Ethos Popular Science: Reshaping Crypto Trust with Tokenized Reputation

4 0 0

Ethos is an emerging tokenized reputation protocol that aims to solve the trust problem in cryptocurrencies.

Compiled by: Xiaobai Navigation coderworld

The cryptocurrency space is rife with scammers and all sorts of questionable activity.@ethos_network The launch aims to distinguish the good from the bad by tokenizing reputation.

Here’s what makes Ethos stand out 🧵

Ethos 101

Ethos is in a sense a tokenized reputation platform that builds a trustless and verifiable system that can represent the trustworthiness of an account in the crypto space.

Ethos’ reputation score measures trustworthiness based on community sentiment and public interactions from accounts like Twitter and ENS. A detailed breakdown can be seen on each Ethos profile, and includes:

Peer Review
Community vote on your profile
Number of endorsements supported
Reciprocal endorsement
Ethereum Staking on Your Reputation
The age of your Twitter account
The age of your Ethereum address

It’s important to note that these ratings aggregate user feedback and metrics, but are not absolute measures of reputation or character, which are dynamic and may change over time.

To participate in Ethos, you must be invited by a registered member who has reached a certain score, which adds a layer of verifiable trust.

How to use Ethos

In Ethos, you earn points and reputation scores by:

Review

In the review, you can review your peers by giving positive or negative comments. You can also vote for or against other reviews.

guarantee

Endorsement is to pledge your $ETH to an Ethos account to show financial support. This shows strong support and credibility.

More Ethereum staked means more trust. The people being staked do not have access to these funds; they merely represent trust.

You can also work with your peers to achieve 3,3 (a cooperative strategy originated in game theory where participants cooperate with each other to achieve a win-win outcome) by guaranteeing each other, thereby amplifying the reputation scores and rewards of both parties.

By guaranteeing, you can also receive the following incentives:

Users can get 1% when they are guaranteed by others.
If a user vouches for someone else, they can earn up to 4% from future vouchings, subject to the initial amount.
The agreement fee of 1% also applies when guaranteeing/canceling a guarantee.

punish

Punishment allows trusted Ethos users to flag unethical behavior. If successful, the accused's score will drop by the amount of the deposit. If unsuccessful, the accuser's score will drop. If the conclusion is unclear, the score remains the same.

Several requirements must be met before someone can punish other Ethos accounts, and the impact of the punishment will be capped based on the punisher's score.

Ethos Marketplace

If you think that’s all there is to it, consider this core feature that illustrates why tokenized reputation is a truly new concept: Reputation Marketplace.

The Ethos Reputation Market is based on Hanson's LMSR and is similar to @polymarket, but with some key differences. Here you can trade and speculate on the reputation earned by Ethos accounts by choosing to trust or not trust them. Prices will change as sentiment changes, and the market will never settle.

However, because reputation can change dramatically if an account faces controversy, it is also susceptible to manipulation, similar to how whales can influence the market through large bets on Polymarket.

Summarize

Ethos is an emerging tokenized reputation protocol that aims to solve the trust problem in cryptocurrencies. It combines community reviews, rewards, Ethereum-based endorsements, and reputation markets to create a dynamic and real-time reputation measurement standard.

Ethos decentralizes trust by allowing users to verify each other, reward good behavior, and flag bad behavior, all on-chain without the need for a central authority. This transparent system provides a clear and native signal for trust, opening up new opportunities for decentralized autonomous organizations (DAOs) and decentralized applications (dApps).

I believe that Ethos is a critical step for Web3, helping the community rebuild trust and accountability in a decentralized world.

Ethos 通俗科普：用代币化声誉重塑加密信任