There has long been a need for a cryptocurrency platform with verified information. What sets Utrum apart is that it is reputation based. This means that users that provide poor information or analysis to the community ultimately get a lower reputation score. Users on Utrum are incentivized to provide reviews, analysis, and market predictions. The incentive provided is the OOT token, which is native to the Utrum platform. OOT tokens are used for transactions across the entire platform. For new cryptocurrency traders and investors, Utrum can be a platform that provides clarity on ICOs and other crypto projects. Let’s take a closer look at the Utrum whitepaper.
The Utrum Platform
The Utrum platform operates like an ecosystem that rewards participants with OOT tokens. The platform’s goal is to provide a place where users can share valid information. The platform does this with the use of a reputation system in order to improve the trustworthiness of the posts. Members are rewarded for providing good information and for the ratings that they provide. The OOT token essentially powers the entire platform. The reviews will allow new users (and experienced users too) to get validated information about new cryptocurrency projects that they can trust.
The Utrum Process
The Utrum platform recognizes that if ratings are introduced on posts immediately, the ratings will influence how others vote. That is why the platform has introduced the concept of blindfold rating. Here is how the whitepaper defines the process:
Blindfold Rating – Projects or other member reviews are rated by users on a scale of 0 – 100. The resultant rating is hidden for 24 hours, reducing rating pattern influence and encouraging authentic ratings based on real information.
Reviews will have a 72-hour blindfold, crypto tech analysis will have a 48-hour blindfold, crypto market predictions will have a 24-hour blindfold, and crypto educational reviews will have a 72-hour blindfold. ICO reviews will also have a 72-hour blindfold. Each of these processes will have a 30-day payout, with 70 percent of the payout going to the author of the post, and 30% of the payout going to the voters. This system encourages participation—if you participate, you earn OOT tokens. It also rewards strong, accurate content. The blindfold rating process allows for voting to operate without natural biases—new content won’t be immediately clouded by the first few ratings.
By looking at the whitepaper, it is relatively easy to see that Utrum is a well-thought-out project that has a very good chance at success. The team behind the project has also done a really good job of getting the word out about the platform (https://bountyhive.io/join/Utrum). However, success will be determined by the number of users. If people are actually using the Utrum platform, then the entire value of the ecosystem will rise and the OOT token’s price will increase as well. We believe that Utrum could be one of the most significant cryptocurrency projects of 2018. If it succeeds, it could be the first stop for many newbies who are interested in learning more about crypto before they invest.
Written by: liveheart
BountyHive ID: liveheart
Hey, just wanted to let you know I gave you an upvote because I appreciate your content! =D See you around
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