DREP (DREP) ICO Review

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DREP is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameDREP
Token SymbolDREP
WhitepaperView Whitepaper
Website LinkHome
Price1 DREP = 0.0077 USD
PlatformEthereum
CountrySingapore
Restricted areasUSA, China

More about DREP (DREP) ICO:

DREP Foundation is committed to building a performance-oriented technology infrastructure, supporting high transaction capacity for an ecosystem generating valuable reputation data. Focusing on two industry pain points: lack of user adoption and low transaction throughput, DREP Foundation aims to provide a highly scalable blockchain architecture, DREP Chain, for deployment of a reputation protocol that anyone can use.

DREP Foundation provides a decentralised reputation ecosystem comprised of a public chain, a reputation-based protocol and a suite of tools for internet platforms (DRApps) to leverage its power.

DREP Chain Overview

DREP Chain is a novel scale-out architecture, with a mutually independent governance mechanism for the two-layer structure as well as within shards.  

Characteristics of DREP Chain:

1. Scalability – To overcome the fundamental limitation of existing scalability catering to the needs of large scale Web-based DRApps

2. Tokenomics – To allow the flexibility and versatility of reputation-based tokenomics for DRApps

3. Zero Identify Proof/ Privacy – To enhance the data privacy security and encryption features by providing user’s ability to have a private identity in a public ledger

4. Data Aggregation – To deploy reputation protocol with requiring capabilities of data storage and data aggregation

5. Processing Spend – To provide low to no value transactions with substantially low cost  

Reputation Protocol Overview

DREP is developing a technology layer that quantifies, monetizes and aggregates reputation value of users across different platforms, including e-commerce, gaming, content, social networking platforms.  

The reputation protocol is uniquely designed to serve the reputation-based assets and currencies running both internal ecosystem and across platforms, thus empowering data sharing and easing the information silo effect.

  • Core Components of Reputation Protocol
  • Reputation Quantifying Mechanism
  • Tokenized User Growth System
  • Upvote/Downvote Mechanism
  • Fake Account Identification  
  • Token Holder Sharing Pool  
  • Reputation Exchange Hub

How Does It Work

DREP provides the following technical solutions:

• The DREP Chain is a high-performance public chain fully developed by the DREP team. It is compatible with Smart Contracts in EVM and WASM formats with a dual-layer structure consisting of a root chain and sub-chains.

• The Smart Pipeline proposed by the DREP team is a “pipeline” for data transmission and for transferring data between the blockchain virtual machine and external applications. It is able to achieve high efficiency, zero gas consumption and strong scalability without affecting security. These needs are not met with Smart Contracts.

• DREP adopts a Schnorr multi-signature algorithm based on Secp256k1 to improve network efficiency and reduce transmission overheads.

• DREP has designed a decentralized ID system based on HMAC (Hash Message Authentication Code) algorithm, forming a dual-layer system of master ID and multiple sub-IDs to achieve data connectivity and privacy protection. The DREP Client allows users to manage data and assets on centralized and decentralized platforms all in one place.

• To enhance data privacy protection, DREP uses homomorphic encryption to process users’ private information.

• To provide long-term value of DREP DID, DREP features a reputation system consisting of a general reputation protocol, a reputation pipeline interface, a reputation data on-chain and algorithm library, a reputation incentive mechanism, a reputation account management, a fake account identification mechanism and more.

• To lower the threshold of technical usage and cost of learning, DREP has developed API, Plug-in and SDKs for a number of differing verticals. With these toolkits, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click. Based on DREP ID, DApp R&D teams are also capable of acquiring more public chain users, transforming various digital asset holders into application users and creating Super DApps.

• DREP code style is Service-oriented programming, similar to Java’s Spring container development. In most blockchain project codes, the coupling between the modules is more severe. Using this approach, DREP allows the modules to be fully decoupled and the code can be easily refactored with clearer logic.

What is Drep?

DREP (/ˈdrip/, /drep/) is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID, DREP Reputation Protocol and DREP SDK, DREP aims to build an open data ecosystem on chain, opening up segregated user groups and data silos across multiple chains.Teams building DApps will be able to easily integrate multiple public-chain versions of DApps, built-in wallets and asset trading platforms with one-click using the DREP Chain, DREP Decentralized ID, DREP software development kit (SDK) and DREP Client.

So, DREP strives to tackle three particular issues:

  1. Inadequate public chain performance and poor developer experience;
  2. Segregated public chain ecosystems and small user bases;
  3. A mismatch between blockchain technology and enterprise needs

DREP is a blockchain-based cryptocurrency, A unit of the currency is called a drep.

The utility scenarios of DREP tokens in the DREP ecosystem mainly include:

• Network Gas;

• The only means of payment for cross-chain transactions between sub-chains (DApps);

• Payment currency for all data relevant transactions in the network;

• Major currency used for presales of assets in the DREP SDK and the application of Launchpad;

• Mortgage assets in the DREP Client for credit commission and structured financial product transactions;

• The only in-game payment method and trading assets in future DREP games. DREP issued a total of 10 billion tokens. The distribution plan for tokens is as follows:

• Ecosystem development and utility scenarios: 18%

• Community and developer incentives: 15%

• Token private sale / pre-sale / public offering: 27.2%

• IEO: 10%

• Team: 17%

• Foundation: 12%

• Advisors: 0.8%

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