CheckerChain Whitepaper
CheckerChain: A Decentralized Review Aggregator Platform.
ABSTRACT. Existing review aggregator 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 a trustless review consensus mechanism (tRCM) on top of Elrond blockchain. 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.
  1. 1.
    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 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.
Company name
Per year revenue
Monthly user
TripAdvisor
604m USD
110m
TrustPilot
102m USD
45m
ProductHunt
3.3m USD
4m
Better Business Bureau
215m USD
13m
Yelp
872.9m USD
120m
We introduce a decentralized and trustless review protocol built on Elrond Network where opinion-checkings are incentivized for meeting a consensus. Millions of these users can get revenue shared with CheckerChain. Posters, Checkers and Influencers are rewarded based on the quality of their work with CHECKR token.
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. Existing businesses can also leverage our smart contract protocol into their platform. Anyone can submit the post and anyone can participate as "Checker" and "Influencer". Submitted posts can be scaled into apps, companies, books, movies/videos, events, and more. 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.
3. INTERACTION ON CHECKERCHAIN
CheckerChain is an evolution of the existing review industry into web3. Hence, our protocol is interacted by 3 similar users types of traditional review platforms:
(a) users who want to check reviews (b) users who want to write reviews (c) users/brands/businesses who want to find feedback
CheckerChain platform also supports "Sponsored Post" or "Advertisement" similar to existing review platforms. This revenue is shared 100% with our users.
All users are termed as "Checkers" while we have defined terminology for our user types as:
(a) Posters: Users who submit posts for reviews are called Posters. (b) Reviewers: Users who are assigned review tasks are called Reviewers. (c) Influencers: Users who are involved in the interaction of posts and reviews are called Influencers. (d) CHECKR Governor: Users who are holding CHECKR tokens are called CHECKR Governor (e) Partners: Any third-party business or organization that utilizes or endorses our protocol are called Partners
Default categories available on CheckerChain dApp are:
(a) Products (b) Apps (c) Books (d) Movies (e) Events
New categories can be proposed and implemented by governance voting. Some other categories under research are restaurants, businesses, hotels, and travel places.
4. tRCM ARCHITECTURE
tRCM is an acronym for trustless Review Consensus Mechanism which defines the following scores in CheckerChain protocol:
  • Post Score (PS)
  • Review Score (RS)
  • Influence Score (IS)
These scores are vital parameters to derive incentives for each contribution. Details on this architecture will be updated in this section.
Initial version sample list of questions based on categories: Product, Apps, Books, Movies & Events.
Total binary question = 11 (builds-up Post Score and Review Score - and derives the earnings)
Total non-binary question = 3 (builds-up engagement and transparency of reviews)
Blockchain & Crypto
If "Yes"
If "No"
1. Will you be interested in using this product?
1
0
2. Is this product spreading violence, hate, rumors, negativity?
0
1
3. Is this product made by reliable team with authentic history?
1
0
4. Will you share this product info with friend or family?
1
0
5. Can this product scale up?
1
0
6. Do you think people will purchase this product?
1
0
7. Is your first impression of this product good?
1
0
8. Is this product better than its competitors?
1
0
9. Is it hard to understand what this product actually does?
0
1
10. Is this post duplicate or spam?
0
1
11. Does this post have insufficient information?
0
1
a) Write a review for this product in 280 characters.
b) Give rating to this product out of 10.
c) Have you used this product?
d) Select the best option: useful, innovative, trustworthy, mind-blowing, needy, eye-catching, others
Products & Apps
If "Yes"
If "No"
1. Will you visit this website or download this app?
1
0
2. Is this app spreading violence, hate, rumors, negativity?
0
1
3. Is this app made by reliable team with authentic history?
1
0
4. Will you share this app info with friend or family?
1
0
5. Can this app scale up?
1
0
6. Will you pay money to use this product?
1
0
7. Is your first impression of this app good?
1
0
8. Is this app better than its competitors?
1
0
9. Is it hard to understand what this app actually does?
0
1
10. Is this post duplicate or spam?
0
1
11. Does this post have insufficient information?
0
1
a) Write a review for this app in 280 characters.
b) Give rating to this app out of 10.
c) Have you used this app?
d) Select the best option: useful, innovative, trustworthy, mind-blowing, needy, eye-catching, others
Books
If "Yes"
If "No"
1. Will you read this book?
1
0
2. Is this book spreading violence, hate, rumors, negativity?
0
1
3. Is this book written by writer with authentic history?
1
0
4. Will you share this book info with friend or family?
1
0
5. Will this book be remembered as time goes on?
1
0
6. Will you pay money to read this book?
1
0
7. Is your first impression of this book good?
1
0
8. Is this book better than its competitors in its genre?
1
0
9. Is it hard to understand what this book actually about?
0
1
10. Is this post duplicate or spam?
0
1
11. Does this post have insufficient information?
0
1
a) Write a review for this book in 280 characters.
b) Give rating to this book out of 10.
c) Have you read this book?
d) Select the best option: useful, innovative, trustworthy, mind-blowing, needy, eye-catching, others
Movies
If "Yes"
If "No"
1. Is/Was this move in your watch-list?
1
0
2. Is this movie spreading false information, hate, rumors, negativity?
0
1
3. Is this movie made by team with authentic history?
1
0
4. Will you share this movie info with friend or family?
1
0
5. Will this movie be remembered as time goes on?
1
0
6. Will you pay money to watch this movie?
1
0
7. Is your first impression of this movie good?
1
0
8. Is this movie better than its competitors in its genre?
1
0
9. Is it hard to understand what this movie actually about?
0
1
10. Is this post duplicate or spam?
0
1
11. Does this post have insufficient information?
0
1
a) Write a review for this movie in 280 characters.
b) Give rating to this movie out of 10.
c) Have you watched this movie?
d) Select the best option: useful, innovative, trustworthy, mind-blowing, needy, eye-catching, others
Events
If "Yes"
If "No"
1. Is/Was this event in your go-to-list?
1
0
2. Is this event spreading false information, hate, rumors, negativity?
0
1
3. Is any popular personality attending this event?
1
0
4. Will you share this event info with friend or family?
1
0
5. Will this event be remembered as time goes on?
1
0
6. Will you pay money to attend this event?
1
0
7. Is your first impression of this event good?
1
0
8. Is this event better than its competitors in its genre?
1
0
9. Is it hard to understand what this event actually about?
0
1
10. Is this post duplicate or spam?
0
1
11. Does this post have insufficient information?
0
1
a) Write a review for this event in 280 characters.
b) Give rating to this event out of 10.
c) Have you participated in this event?
c) Select the best option: useful, innovative, trustworthy, mind-blowing, needy, eye-catching, others
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 level of tRCM achieved.
Initially, incentives are maintained by allocated new tokens for a period of 8 years on top of revenue from ads and service fees. When 250,000,000 $CHECKR tokens are distributed by the end of 8 years, the inflation rate drops to 0%, and incentives are maintained by revenues.
Protocol incentives are distributed on weekly basis counted as epochs. The contributions of checkers, posters, and influencers are collectively accounted per epoch into scores. Based on the weekly scores, rewards are emitted by the Distributor Smart Contract. All scores are reset every epoch.
5.1 Incentives Calculation
Allocation = 250,000,000 $CHECKR
Revenue = 50% of Submission fee (post, review, ads) + Sponsorships (ads)
Reviewers: Posters: Influencers = 100m: 75m: 75m = 4:3:3
Distribution is vested over 8 years period = 8 * 52 Epochs = 416 Epochs
Distribution in 1st Epoch of 1st year period = 18% of 250m / 52 = 865,384.615
Incentives = (Finalized Score of Epoch)/(Total Cumulative Eligible Score) * Epoch Allocation
Epoch wise distribution for Reviewers = 346,153.846 $CHECKR [after 8 years, 50% of Revenue * (4/10)]
Epoch wise distribution for Posters = 259,615.385 $CHECKR [after 8 years, 50% of Revenue * (3/10)]
Epoch wise distribution for Influencers = 259,615.385 $CHECKR [after 8 years, 50% of Revenue * (3/10)]
5.2 Revenue distribution
During the first 8 years period, 20% of revenue goes to Foundation Reserve, 20% of revenue goes to Leaderboard and 60% of revenue goes to Ambassador for monthly distribution. When inflation drops to 0 in 8 years, 20% of revenue goes to Foundation Reserve, 20% of revenue to Ambassador, 20% of revenue to Reviewers, Posters, and Influencers, while 20% of revenue to Single Asset Staking, and the remaining 20% to Leaderboard.
Poster fee = TBD Reviewer fee = TBD Re-Poster fee = TBD (x10 of Poster fee) Ad submission fee = TBD Advertisement fee = varies
Inflation rate is roughly 0.3% per week at the start of protocol incentives. Considering linear growth rate and uptrend market development, early users will receive larger incentives than users who participate later.
6. UTILITIES & ECOSYSTEM OF PROTOCOL
  • Review Platform
  • Single Asset Staking
  • tRCM as a Service (TaaS) for third-parties
  • Revenue Sharing (advertisement & service fees)
  • Leaderboard
  • Governance
Details on utilities & the ecosystem of the protocol will be updated here.
7. TOKENOMICS
CHECKR is an ESDT compliant fungible token that acts as a governance and utility token of CheckerChain protocol. The maximum total supply of CHECKR token is 2,100,000,000 and has 5 decimals.
Distribution
Amount ($CHECKR)
Allocation %
Early Investors
58,000,000
2.76%
Reviewers Incentives
100,000,000
4.76%
Posters Incentives
75,000,000
3.57%
Influencers Incentives
75,000,000
3.57%
Staking Incentives
75,000,000
3.57%
LP Incentives
175,000,000
8.33%
Market Making DEX/CEX
146,00,000
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%
Distributions that are vested with 8 years period are Reviewers Incentives, Posters Incentives, Influencers Incentives, Advisors Incentives, Team Development, Maiar LP Incentives, and Staking Incentives.
Time Period
8-year Distribution
Checker Incentives
1st year period
18%
18,000,000
2nd year period
17%
17,000,000
3rd year period
16%
16,000,000
4th year period
14%
14,000,000
5th year period
12%
12,000,000
6th year period
10%
10,000,000
7th year period
8%
8,000,000
8th year period
5%
5,000,000
8. CONCLUSION
We have outlined a decentralized review aggregator 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 to motivate honest reviewers. 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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