Kamis, 16 Agustus 2018

GSENetwork

The Decentralized Trust Network for Sharing Economies

What is GSENetwork?

GSENetwork is a crypto project aimed to solve the problems in the sharing economy world, starting from high transaction fees and the lack of benefits for all parties in the whole ecosystem. One of their strategies is “green mining”, an incentive scheme where participants will get tokens as the reward for doing some specific task/behavior that is defined in the smart contract.

Why It Exist?

Before we talk about it further, it’s better if we understand what and why does a system is needed in the system. To make it simple, you can think ‘green-mining’ as a form of getting GSE tokens as a reward for your participation in the network. In this case, participation is equal to transactions and playing your roles. In other words, if you’re a buyer/consumer, then you’ll get this token when you buy services and then use them in a good manner.
According to their whitepaper, green mining exists as a form of incentives for the participants. You can say that green mining is a form of positive reinforcement to increase participant contribution towards the whole network and to attract others to join the network. This kind of system is not entirely new, but it’s probably the first time applied to the sharing economy network because of its complexity. Why are such incentives needed?
Here’s some reason that I can think of (some of this is not written on the GSENetwork Whitepaper):
  • GSENetwork is still new compared to other companies in the sharing economy market. In order to increase their user base, giving incentives to new and or existing participant is important. It’s similar or analogous to big discount at a sale from new shops.
  • As explicitly stated on the white paper, to ensure that all participants get the benefits, thus making GSENetwork has an advantage compared to traditional sharing economy system where incentives are complex to apply and not everyone could get it. Most of the time, only the companies or partners that gain additional benefits, while the participants don’t gain any added benefits at all.
  • Giving free money is the most effective way to make people behave in some way that we want to. We can say that money for people is the same as meat for a dog. We like it too much. That’s why giving tokens as the incentives might work.

PROBLEM

Consumers and entities are unable to interact efficiently if trust is not established.
Centralized platforms emerged as a potential solution, but brought along high fees and subjection to censorship. Trust is yet again compromised.

MISSION

We are here to disrupt the current sharing economy with a transparent and secure network powered by blockchain technology.

SOLUTION

DService
Providing robust distributed service infrastructure to support sharing economy businesses.
Incentive Model
A revolutionary green-mining approach to mine tokens through user engagement in the sharing economy.
Trust Network
User will be able to determine their own trust profile and receive GSE tokens as incentivization.

Decentralized Service (DService)

We have woven the Decentralized Service (DService) layer into the GSENetwork architecture.
On top of the DPoS Consensus powered main chain, DService core components will be implemented as 4 distributed systems:
Order Dispatching System
Anti-fraud System
Multi-Dimensional User Profile Rating System
Pricing System
By doing so, all the sharing economies DApp built on our network will be able to focus on their core businesses and the network will support them with robust distributed infrastructure.

Incentive Model

Inbuilt usage incentive mechanism that encourages more on-chain transactions:
User
The foundation
Suppliers
GSE holders
Network participants get rewarded for every valid transaction, naturally creating an incentive to record more activities on the blockchain. Incentives will be balanced dynamically based on the ecosystem activity, with the aim to ensure fairness across time periods.

Trust Network

The incentives and tokenomics of GSENetwork are designed to encourage more user interactions and to scale the network effect.
When the network records more user activities and behavior, it creates a trust profile of each individual user. This forms the framework that the network and the users depend on.
Users will get to decide the quality and quantity of data they provide. The more you share, the more valuable your trust profile becomes, the more incentives you get.

ROADMAP

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