The Idena elevator pitch in my own words ⏱
Idena is a crypto-currency where puzzles are used to prove that verified account holders are humans, and not bots. The puzzles, called ‘flips’ need to be solved at the same time for everyone involved across the world, and there is a time limit — so, one person cannot verify multiple accounts.
This is unique, and has benefits compared to other currencies. For the end user, they’re rewarded for creating and solving the flips. The barrier to entry is low… the reward can be claimed by anyone with about 30 mins to 1 hour spare time per week, a computer ( even a low power one ), and a decent internet connection.
This is stark contrast to up front investment required to be rewarded by Proof of Work & Proof of Stake coins.
Then, the potential for application developers is huge here. For example, this system could prevent ticket touting, by making sure tickets are limited to 1 per verified account.
And, for the functionality of the core wallet and apps, likewise, lot’s of potential, e.g. maybe a decentralised & bot proof login/authentication flow — similar to ‘Login with Facebook’ buttons, but better.
Ding. Pitch over… if you like what you read, open the project homepage in a new tab right now!
My curiosity 😼
I found a post on a subreddit that I subscribe to, I can’t remember the exact details, but I think it was as simple as a link to the official homepage at idena.io
From a web developer point of view, I’m impressed with the look and feel of the site… it gives me a quiet confidence in the teams ability. And the content doesn’t disappoint, I read it all, then read every FAQ to cement the learning.
Then, I joined the official Discord, the link is in the footer of their site.
The big questions with Idena 🃏
There was some hesitation. I was asking myself: is Idena was a good idea? I mean, being a puzzle monkey for some anonymous team. Making time to complete these games, am I a pawn being controlled by higher powers?
I’ve reached my conclusion, but please… ask yourself these questions…
- What good can come from a system like Idena?
- Likewise, what bad could come from it?
- What is most likely to happen? Probably somewhere in the middle.
- Do you want to dedicate time to be part of this?
… then reply in the comments. Show me yours and I’ll show you mine.
Next time I’ll wrap up my introduction. Maybe, I’ll tell you how to install the desktop wallet, spoiler alert: 🍰.
For now, thanks for reading and stay safe in these crazy times ☮️
