ICO Review: Cardstack
Cardstack is a company that is seeking to create a more decentralized internet. They are an ERC20 token as of now.
As it stands, much of the internet we use today is siloed. Companies like Facebook, and Google, do not share their data with each other. Many of these companies utilize their info as “vertical silos.” Cardstack desires to move the vertical to a horizontal layering where you could use your current cloud service and blockchain technology in different areas where it makes sense and combine them together.
Reorienting these vertical silos to horizontal layers allows native apps, cloud apps, and blockchain dApps to connect a future software stack combining the best qualities of each of the software era’s approaches.
Humans at the center, acting as their own hub is Cardstack’s key to success. The necessary orchestration can be made intuitive by turning each state of an application into a “card,” which is a visual encompassing of the important information, suggesting the next course of action via changing of related cards. What happens is that these cards become the main way of interacting between the users and the great variety of competing services, running locally or in the cloud or on the blockchain.
How will it work? Users will spend the tokens in their wallet to gain access to an app. A smart contract, which acts as the app’s billing agent will allot a portion of these tokens to those who create the open-sourced code or the provided service. This is great because it allows for the money to go straight into the hands of people who were contributing to the platform’s ability to run. Cardstack Tokens allow users to purchase credits to use software in the ecosystem, while makers and miners are rewarded based on the amount of usage data being generated.
The team really has thought of everything. One of the big questions that comes up is the need to balance facts and opinions as it relates to payment and content creation motivation. Essentially, what Cardstack has done is create a network-wide reward function which will consult the output of the proportional attribution and allocation model they’ve made, taking many factors both on-and off-chain into account to determine what is a fair distribution of rewards. But, what is even better, due to their desire for transparency, the Cardstack team has published their mathematical model in their “Cardstack Reward Paper” which allows the community to review the model and give feedback to the team. I’ve included important links below.
White paper link : https://cardstack.com/whitepaper.pdf
Cardstack link : https://cardstack.com/
cardstack ANN Thread: https://bitcointalk.org/index.php?topic=2768237.0
Telegram profile link : https://t.me/nikita_podar
Cardstack Reward Paper: https://cardstack.com/assets/media/cardstack-reward-model-v1.0.pdf