CheckerChain Lightpaper
There are hundreds of thousands of products, companies, books, movies, and events happening every day. It is a real hassle to find the best product when we have to trust feedbacks and reviews from unknown or known parties without any consensus mechanism. The existing review system is completely broken and unfair as there is no trustless check system to avoid paid, promoted, or faked reviews. We propose a decentralized and trustless review protocol built on Elrond Network where content-checkings are incentivized for meeting a consensus. Posters and Checkers are rewarded based on the quality of their work with CHECKR token.
Good to know: CheckerChain is a built on Elrond Network.
CheckerChain is a decentralized review aggregator platform to check products for their validity and authentic feedbacks. The smart contracts of CheckerChain protocol are powered by Elrond blockchain and integrated with IPFS to maintain censorship-resistant applications. Anyone can submit the post and anyone can participate as "Reviewer". Submitted posts can be apps, companies, books, movies/videos, events, and news. There can be some limitations like “blockchain & crypto-only posts” initially in the user-end. This can be changed or updated by the CheckerChain community with governance voting.
Users can use CheckChain for: (a) finding out fake or not (b) launching platform (c) getting instant feedbacks and sentiments from real users (d) finding the market trends (e) getting up to date with new happenings. This will mimic the traditional review industry into a complete end-to-end blockchain system by interacting with 4 parties. Posters: They submit posts for getting reviews. They get rewards. Reviewers: They check the validity of the post by reviewing. They get rewards. Creators: They are makers of products. This is just a badge. Promoters: They submit sponsored posts. They do not qualify for rewards.
Review Process
Anyone can submit a post by connecting a wallet that supports CHECKR token. When a post is submitted, it goes to Reviewer randomly for the validation process. To qualify for Reviewer, users need to set up a “Checker” profile. Each validation task expires within 24 hours. Reviewer can not request to receive validation tasks and there is no guarantee for Reviewer to receive any particular validation tasks. After 24 hours, all “Checks” of a post are mined to reach a consensus. Then “Posts” are assigned “Post Score” out of 100 while “Reviewers” are assigned “Review Score” out of 100. Re-checks can be requested after a certain number of days. Rewards are distributed through a smart contract based on score factors.
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