Decentralized Reputation System (DREP) has been touted to be one of the top sensations in the areas it is involved. This decentralized solution is based on Blockchain technology that quantifies and tokenizes online reputation for trading, investment and data sharing purposes. The mission of DREP is to promote and develop a transparent, connected and high-quality internet community. It has a vision of building a reputation ecosystemthat is based on Blockchain for applications on internet platforms. The solutions provided by DREP include- reputation quantification and tokenization mechanism, voting economic system, identification of fake accounts, and a pool for reputation data sharing. This allows different internet platforms to avoid some of the problems that hinder these platforms from being effective.
DREP is providing a three-tiered ecosystem comprising of a public chain (DREP Chain), reputation-based protocol and a suite of tools for internet platform to leverage its power. The blockchain structure is relatively novel. The main internet platforms that DREP targets includethe social networking platform, the e-commerce platform, the content platform and the tool platform. The main reason why it is targeting these particular platforms is that the reputation of the platform users can be more meaningfully quantified and tokenomics can be more sustainably operated.
The internet platforms which would like to get involved with DREP need to start by sending questionnaires to the foundation. The DREP team will take the information provided regarding the technology structure of the internet platforms. When the information is confirmed, the internet platforms will start cooperating with DREP. This corporation is meant to bridge the gap between internet and blockchain technology, and this leads to mutual development.
The Development team of DREP is made up of experts who have vast experience in the computer technology field. One of the co-founders is Matt Bennice who has an experience of more than ten years working in multinational companies that deal with distributed technology such as Google and YouTube. Another co-founder is XiaolongXu who has a lot of experience in working at big companies that develop software such as Tencent and Microsoft. The third co-founder is Momo Chang received her master degree in Nanyang Technological University of Singapore and is a specialist at FinTech. There are also highly experienced and skilled advisors who are helping in the development of DREP.
This project already has a set roadmap where by the fourthquarter of 2018 it will launch its test net and by the first quarter of 2019 it will be releasing the mainnet. This is meant to give users freedom to test the features of the project. DREP is issuing 10 billion token and those that will be on sale are 3 billion. The price of each token is $0.011 and the hard cap is $28.7 million.
Some of the positives of DREP include that it is providing a sustainable and fast-solving system which is anticipated to grow rapidly and eventually connect all internet platforms. It is also providing the solution on a large scale which is important considering that this gives it a chance to grow at a higher velocity within a short time. The return on profit of this project is rated medium and the risk is rated low therefore making the project one of the most anticipated projects. The DREP also receives quite a bit of endorsement from famous projects and companies such as Quarkchain, Ziggurat, etc. The project has also allocated about forty percent of the tokens to user acquisitionand strategic partnership. All this shows that Decentralized Reputation System (DREP) has a solution that has been missing for a long time and as a result the project is viable.