Hello Everyone,
This is Satish from India.
Today I would like to give a short review on Indorse ICO
Generally most of the people in the world are associated with social networks like Facebook, Google, Twitter. Everyone is liked to share their personal information, personal experiences, skills, knowledge acquired but in return at last no one earns a single penny from social networks, But Social networks are using this huge data to understand the behaviour of every person in the network with the data analysts and selling this huge data for large amounts to advertisers and recruiters.
Due to centralisation of data our personal data can be hacked by anyone with malacious intention and ultimately the users are the loosers and apart from this all the social networks are handelled by centralised Authorities and they will decide what to post and what not post, It is totally inconvenient to the user who post the content in network and in result he looses his freedom of expressing his
opinion or intention to reach the
crowd.
Now Indorse want to solve all these ineffiencies in social networks and trying to give a ownership status to the user of their content creation and for personal data by using innovative Blockchain technology for removing centralisation in Ethereum which is actively supported by huge no of arroud 30,000 developers for development of ecosystem for decentralising the world.In addition to this it uses IPFS for file storage in decentralised manner and uPort for identity and also using Whisper.
The Indorse platform works as below mentioned
In this each user consists of two roles either as a "Claimant" or a "Moderator".
Claimant
If a user have any skills or knowledge he can update in profile with proof and ask to verify in platform to increase his score and moderators are approved this skill or knowledge then claimant and moderator will be rewarded with Indorse rewards and Indorse score (SCR) will be increased.
Moderator
When claims are coming into platform then Indorse by using Anonymous indorsement Protocol (AIP) will choose some moderators randomly with some parameters like most active members, similar classification for both moderator and claimant. Once moderators are selected for deciding cliam then the SCR tokens of moderators will be locked in escrow smart contract, If moderator prooves any of the task then he will get Indorse rewards and his score will be increased by 1 Indorse score (SCR). This will be decided by consensus a mechanism. If Moderator fails to decide the task then his score will be decreased.
Further understanding see the below flow chart
After some period of vesting of Indorse rewards then these rewards will be converted into IND tokens.
IND tokens are tradable in exchanges and these tokens are mainly for the purpose of buying slots in Indorse platform by advertisers and others.
SCR tokens are not transferrable and non tradable tokens and which are only represents the tracking of Indorse rewards of the member and for the reputation of member by using immutable and transparent blockchain tech.
In crowdsale who purchases IND tokens then they will also get SCR token, The ratio IND : SCR = 1000 : 1.
SCR tokens are non divisible.
Indorse reward tokens are converted into IND tokens after specified Vesting period and Indorse rewards will be burned from member account.
In this way for every task or content creation or for updating profile the members will be rewarded and these rewards will be given in IND tokens pooled from the revenues of selling to advertisers and by inflation rate of 5%. This is a good way to distribute the rewards.
In future Indorse is looking to enter the prediction markets which is a huge demand right now and already some of startups are involved in this markets like Gnosis and Augur.
Ultimately Indorse is want to give ownership rights to the members for their content and information.
The team and advisors also having good expertise in Blockchain technology and other fields like taxation and marketing.
It also have good Strategic Advisors from ICO industry and this will help them achieve objective.
I think it will create a huge revolution in decentralised professional network.
The Crowdsale will begin on 8th August 2017
In crowdsale estimated rate 1 Ether = 1000 IND tokens with 1 SCR token
To know more about Indorse visit https://indorse.io
To see the announcement in Bitcoin talk visit https://bitcointalk.org/index.php?topic=1931552
Bitcointalk Profile link : https://bitcointalk.org/index.php?action=profile
Bitcointalk Profile name : Satish147