CheckerChain Whitepaper
CheckerChain: Next-Gen AI-powered Crypto Review Platform
ABSTRACT. Existing online review platforms are not able to solve the problem of manipulated and fake reviews. Traditional centralized review platforms do not even incentivize users for their contributions. We believe these problems are due to the lack of a consensus mechanism in review architecture. Utilizing blockchain technology will partially solve the need of transparent and tamper-proof reviews.
In this paper, we propose an AI-powered trustless review consensus mechanism (tRCM) on top of MultiversX protocol. This tRCM architecture enables reviewers to meet a consensus on an opinion without the need of knowing each other's opinions and completely removes the chance of fake or manipulated reviews to receive any incentives.
PREFACE
This protocol is experimental; can suffer from parameter changes and logical upgrades. Improved methodologies can be integrated upon rigorous revisions from both the core team and the community. This paper outlines the most up-to-date version of this protocol which is intended to be completely open-source to develop the desired review aggregator platform.
2. INTRODUCTION
There are hundreds of thousands of crypto projects, products, companies, books, movies, and events happening every day. It is a real hassle to find the best product when we have to trust the feedback 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.
| Company name | Per year revenue | Monthly user | Market Share |
|---|---|---|---|
TripAdvisor | 604m USD | 160m | 3% |
TrustPilot | 102m USD | 57.3m | 1.5% |
ProductHunt | 3.3m USD | 6.23m | - |
Better Business Bureau | 215m USD | 13.83m | - |
Yelp | 872.9m USD | 142.5m | 6% |
282b USD | 88.33b | 73% | |
85.96b USD | 18.13b | 3% |
We introduce a decentralized and trustless review protocol built on MultiversX where opinion-checkings are incentivized on meeting a consensus. Millions of these users can get revenue shared with CheckerChain. Posters, Reviewers, and Influencers are rewarded based on the quality of their work with $CHECKR token.
CheckerChain is a next-gen AI-powered crypto review platform built on MultiversX using trustless review consensus mechanism (tRCM). Anyone can become a Poster to publicly list any crypto products and anyone can nominate themselves in tRCM protocol to participate in reviewing process. Reviewers are arbitrarily selected from the nominee pool by the protocol in zero-knowledge conditions. While the tRCM protocol is utilized for reviewing only crypto related products in CheckerChain platform, there exists a "tRCM-as-a-Service (tAAS)" extension to implement tRCM across multiple categories such as movies, books, electronics, cities, restaurants, hotels, and more.
3. INTERACTION ON CHECKERCHAIN
CheckerChain uses tRCM protocol, an evolutionary upgrade of the existing review industry with a decentralized philosophy. Hence, our protocol is built on MultiversX, which is the most decentralized, the most secure and the most valueable blockchain network.
CheckerChain operates with 3 user types:
(a) Posters: users who list crypto products on CheckerChain (b) Reviewers: users who are nominated by tRCM protocol to write reviews (c) Influencers: users who interact, boost, and engage on CheckerChain
4. tRCM ARCHITECTURE
tRCM is an acronym for trustless Review Consensus Mechanism. It is the core protocol utilized on CheckerChain to make reviews trustless.
tRCM is based on 2 assumptions for a review to hold any authentic value,
reviews are performed in zero-knowledge proofs without any control of either the poster or the reviewer.
honest reviewers in the protocol always establish a majority
In tRCM protocol, anyone can participate but the protocol selects the reviewers arbitrarily to review a product. Selected reviewers can only get reward for their work when their review score falls in consensus range. Closer the consensus, more the reward.
Reviewers have a higher probability to make their review closer to consensus only when they are honest. Any dishonest review by any reviewer falls outside of consensus. This generates no or least reward making dishonest reviews highly expensive to perform. This will eventually discourage such attackers from participating in the tRCM protocol.
These scores are vital parameters to derive incentives for each contribution.
Trust Score: This is an atomic data of a product calculated from reviewer's task. It represents rating of a product in the range of 0 to 100.
Normalized Trust Score: This is a derived data of a product calculated from Trust score to determine the impact on reward. Posters receive reward based on Normalized Trust score.
Consensus Score: This is an atomic data of reviewer's task. It represents the quality of trust score in the range of 0 to 100.
Profile Score: This is both an atomic and aggregated data of reviewer's performance. It represents the quality of consensus in the range of 0 to 100. Reviewers receive reward based on Profile score.
Rating Score: This is a derived data of a product calculated as Trust score out of 5 and processed with Bayesian Average.
Feedback Score: This is an aggregated data of reviewer's task combined with influencer's task. It represents sentiments of a product in the range of 0 to 5.
Normalized Feedback Score: This is a derived data calculated from Feedback Score; processed with Bayesian Average.
Sentiment Score: This is a categorical data of a product from reviewer's task. It is non-numerical in category and numerical inside a category in the range of 0 to 100.
Ranking Score: This is a derived data of a product calculated from Rating score and Consensus score. It represents the rank of a product starting from 1 over 24h, 7 days, 30 days and All-Time ranges.
4.1 Trustless Review Process
When a product gets listed on CheckerChain, tRCM protocol enacts on 30 parameters of 10 categories to generate 3 vital atomic scores: Trust Score of Product, Profile Score of Reviewer and Consensus Score of Review Cycle.
10 Categorical Metrics of CheckerChain for Crypto Reviews
Project (Innovation/Technology)
Userbase/Adoption
Price/Revenue/Tokenomics
Utility Value
Security
Social Presence
Partnership (collab, VCs, exchanges)
Team
Roadmap
Clarity & confidence
5. PROTOCOL INCENTIVES
CheckerChain protocol incentivizes all contributions made by anyone within the ecosystem. When the majority of participants are honest, the trustless review consensus mechanism (tRCM) becomes secure and realistic. This protocol is designed to distribute incentives based on the consensus level of tRCM achieved.
Initially, for 8 years, incentives are maintained by distributing the new tokens. When 250,000,000 $CHECKR tokens get completely distributed at the end of 8 years, the inflation rate drops to 0%, and incentives are maintained by distributing revenues earned by the platform.
Protocol incentives are distributed on a monthly basis and counted as Epoch. The contributions of posters, reviewers and influencers are collectively accounted per epoch into performance scores. Based on these monthly scores, rewards are emitted by the Distributor Smart Contract. All scores get reset every epoch.
Any contributions on CheckerChain platform are incentivized through its own MultiversX digital assets called $CHECKR.
6. UTILITIES & ECOSYSTEM
CheckerChain is a utility-driven decentralized application (dApp). It fixes the problem of fake and manipulated review systems and is also designed with a gamified review-to-earn ecosystem.
6.1 Trustless Review Platform
CheckerChain is a next-gen AI-powered trustless review platform. This is one of the most innovative evolutions in the review industry. While CheckerChain is particularly focused on the crypto and blockchain segment, it is a much-needed upgrade that can be experimented with in all other categories where reviews are important.
6.2 Review-to-Earn Platform
Traditional review platforms have no mechanism to incentivize contributors without impacting review metrics. CheckerChain integrates tRCM bringing fairness to review metrics while also incentivizing all contributors.
6.3 tRCM as a Service (TaaS) for third-parties
tRCM is a revolutionary protocol. It does not need to be limited within a platform. Hence, tRCM as a Service (TaaS) model is available for any third parties to utilize tRCM. It can extend from a crypto review platform to multiple segments such as movies, books, electronics, cities, restaurants, hotels, and more.
6.4 Revenue Sharing
Posters, reviewers, and influencers are automatically rewarded. As the platform grows to generate revenues, participants in this ecosystem can act as beneficiaries.
6.5 Asset Utility (Payment for Services, Staking, Liquidity-Providing)
$CHECKR tokens can be utilized as payment for various services where tRCM is implemented. Holders can earn rewards for staking or providing liquidity.
6.6 Gamified UX
CheckerChain is an interactive web3 platform where contributions are incentivized and boosted through a gamified model. UI and UX are designed to support various achievements, badges, digital artifacts, and leaderboards.
7. TOKENOMICS
$CHECKR token is a MultiversX native digital asset. The maximum supply of $CHECKR token is 2,100,000,000 and it has 5 decimals.
| Distribution | Amount ($CHECKR) | Allocation % |
|---|---|---|
Early Investors | 58,000,000 | 2.76% |
Reviewers Incentives | 150,000,000 | 7.14% |
Posters Incentives | 50,000,000 | 2.38% |
Influencers Incentives | 50,000,000 | 2.38% |
Staking Incentives | 75,000,000 | 3.57% |
LP Incentives | 175,000,000 | 8.33% |
Market Making DEX/CEX | 146,000,000 | 6.95% |
Bridges to DEX/CEX | 150,000,000 | 7.14% |
Business Development | 250,000,000 | 11.90% |
Market Development | 346,000,000 | 16.48% |
Investors/VCs | 200,000,000 | 9.52% |
Team Development | 100,000,000 | 4.76% |
Advisors Incentives | 100,000,000 | 4.76% |
Foundation Reserve | 250,000,000 | 11.90% |
TOTAL | 2,100,000,000 | 100% |
7.1 Distribution scheduled within 8 years are Reviewers Incentives, Posters Incentives, Influencers Incentives, Advisors Incentives, Team Development, LP Incentives, and Staking Incentives. The distribution curve of 8 years is maintained at 18%, 17%, 16%, 14%, 12%, 10%, 8%, and 5% in chronological order.
| Time Period | 8-year Distribution | Example: Poster Incentives |
|---|---|---|
1st year period | 18% | 9,000,000 |
2nd year period | 17% | 8,500,000 |
3rd year period | 16% | 8,000,000 |
4th year period | 14% | 7,000,000 |
5th year period | 12% | 6,000,000 |
6th year period | 10% | 5,000,000 |
7th year period | 8% | 4,000,000 |
8th year period | 5% | 2,500,000 |
7.2 Revenue allocations:
| Allocations | 8-year Distribution | After 8-year |
|---|---|---|
Posters | 0% | 10% |
Reviewer | 0% | 30% |
Influencers | 0% | 10% |
Stakers | 0% | 10% |
Liquidity Providers | 0% | 10% |
Leaderboard | 00% | 10% |
Foundation | 100% | 20% |
7.3 Reward Distribution:
| Method | Calculation Basis | Period | Distribution |
|---|---|---|---|
Poster | Trust Score | 1st of Month | 10% Instant 90% Vested (0.5% per day unlock) |
Reviewer | Profile Score | 1st of Month | 10% Instant 90% Vested (0.5% per day unlock) |
Influencer | CP points | 1st of Month | 10% Instant 90% Vested (0.5% per day unlock) |
Leaderboard | Ranking | 1st of Month | 10% Instant 90% Vested (0.5% per day unlock) |
Staker | Contribution over time | Daily | 10% Instant 90% Vested (0.5% per day unlock) |
Liquidity Provider | Contribution over time | Daily | 10% Instant 90% Vested (0.5% per day unlock) |
7.4 Checker Points (CP) are similar to loyalty points for off-chain interactions within CheckerChain platform. Conversion Rate: 1 CP = 1 $CHECKR token (adjusted off-chain based on growth of user activities) There is no max limit on CP but controlled by 50,000,000 $CHECKR tokens.
7.5 Reward Ineligibility Criteria
| For Poster | For Reviewer | For Influencer |
|---|---|---|
45% < Trust Score < 55% | Profile Score < 40% | CP < 1000 |
At the end of every epoch, all conditions are checked. If ineligible, rewards become 0 for that category.
8. Business Model
CheckerChain controls its inflationary review-to-earn tokenomics with a powerful business model. Without generating sustainable revenue and infusing that revenue into its (MultiversX digital assets) $CHECKR tokens, it suffers a death spiral. Hence, to access CheckerChain platform and its premium features, there are two pricing models:
Subscription model (pay per month or year):
| Features ⬇️ | Free Forever Plan | Premium Plan | Business Plan |
|---|---|---|---|
$0/month | $9.99/month | $99.99/month | |
Product Submission | 1 basic listing | 10 basic listing/month | 30 basic listing/month |
Review Submission | Unlimited | Unlimited | Unlimited |
Feedback Submission | Unlimited | Unlimited | Unlimited |
Gassless | Yes | Yes | Yes |
Earning Fee | 30% Charged | 0% Charged | 0% Charged |
Penalty for Missing Tasks | Yes | No | No |
Profile Verification | No | Yes | Yes |
Analytical Page | Very limited | Limited | Yes (Full) |
Comparison Tool | No | No | Yes |
Reply Reviews | No | No | Yes |
Review Cycle Request | No | 10 request/month | 30 request/month |
Customized Review Questions | No | No | No |
Ads-free Browsing | No | Yes | Yes |
Pay per feature
| Actions | Fees (in $USDT) | Notes |
|---|---|---|
Basic Product Listing | $0 | up to 10k impressions (100 reviews) |
Standard Product Listing | $500 | up to 40% traffic impressions (500 reviews) |
Premium Product Listing | $1000 | up to 70% traffic impressions (500+ reviews) |
Product Inscription (Optional) | $9.99 | per review cycle |
Full Analytical Page Access | $4.99 | Monthly |
Comparison Tool | $4.99 | Monthly |
Advertisement fee | custom | One time |
Claim Product Ownership | custom | One time |
Product Verification | $99.99 | Monthly |
Product Discount/Offer | 10% of Offer + $1.99 | One time |
Unstaking Penalty (During lockup) | custom | 20% of unstaked amt |
Early Claim (During vesting) | custom | 20% of claimed amt |
LP Withdrawal Fee (During first 30 days) | custom | 1% of withdrawal amt |
Business models may get updated based on ecosystem growth and community demands.
9. CONCLUSION
We have outlined a decentralized review platform that can self-sustain in a trustless fashion. Using tRCM architecture, users can join or leave the protocol at their will without compromising the validity of reviews as long as the majority of reviewers are honest. This protocol incentivizes honest participants and penalizes attackers. Hence, there is no benefit of attacking the protocol with dishonest reviews. In this paper, we discussed our architecture, nature of participants, economic incentives, and some limitations. We are confident to baseline this whitepaper to launch the initial version of the decentralized review platform.
8.1. Acknowledgement
We would like to thank all of the advisors and proofreaders who improved this whitepaper with new ideas and error fixings.
APPENDIX
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