A step-by-step guide to tokenizing public profiles using Public Reputation Network
Public Reputation Network (PRN) is a powerful blockchain that uses crowd-sourced predictions to carry out real-time forecasting of the public opinion. Still in Beta, PRN is creating disruption in the traditional system. Members can earn rewards by buying into the correct prediction. Furthermore, members can also create and build their portfolio of digital assets. This article explains the underlying process that converts a public reputation card into a digital asset. First, we will discuss the general process that you can follow to create digital assets
Step 1: Signup Process
To Register an account, you should Click on “Register” button located in the upper left corner as shown in Figure 1. Figure 1: Homepage Screen
Step 2: Verify Your Account
You can verify your account easily through your social media profiles. Currently, we support Facebook, Twitter, LinkedIn and Google Verification. After verification, you are able to create your own PR cards
Step 3: Create your First PR Card
As PRN is an incentives-based network, you will receive a reward of +2 PR points for creating your first PR Card. You can click on “Add new Card Now” to add a unique PR Card, as shown in figure 2. Figure 2: Default Account Screen Things to consider when creating a new card
- Create a card of a unique entity, not yet listed on the Network
- Provide details about the entity in the next window
- Upload a high-quality Image of the entity
- Submit a Vote on your Card to make it public.
Your card will look just like the sample card shown in Figure 3 Figure 3: Card of Vladimir Putin, created by a community member. By Clicking on the positive sign, the member can up-vote this entity and by clicking on the negative sign, the member can down-vote this entity. Voting patterns create a real-time PR of the entity. Now, as you have created a PR Card, the next steps include understand the voting mechanism, Token Generation, and the ways to get votes for your card.
Step 4: Understanding Balanced Binary Voting
The balanced Binary Voting mechanism is inspired by the concept of Yin and Yang of Taoism. This concept is all about balancing the negative and positive energy. Through, Balanced Binary Voting (BBV), PRN creates a balance between positive and negative votes. This mechanism removes the threat of hate speech and paid endorsements. Therefore, this system helps us to maintain a fair real-time public reputation assessment of public entities.
Step 5: Understanding the mechanism of Token generation
All cards collect Positive and Negative votes on PRN. All votes are tokens that the members submit through the stellar network. These votes can determine the reputation of a certain entity that the card represents. When a card reaches a milestone of 100 votes, the member can burn the Value-XPR to mint a PR token to it. This token is exchangeable to other digital currencies. At first tokens are only exchangeable to XPR and MOBI, however in future more digital currency options will be available.
Step 6: Understanding the ways to increase the votes on PR Cards
There are many ways through which you can increase votes on PR Cards
- Brag about your card in the PRN official forum “Shouts”
- Ask your friends and family members to join the network and vote on your PR card.
- Request in the forums related to that PR Entity to vote on your card
- Vote on other cards, they will acknowledge your status on PRN and will vote on your cards
Step 7: Create Digital Assets like a Pro
As per the simple rule of math, the greater the quantity is, the greater will be the chances of success. Apply it to PR Network. The greater the quantity of cards is, the greater will be the chances of developing a Digital Asset. With a library of over 2200 Unique PR Cards and over 50000 Votes, PRN is destined to a great future. We invite you to join PRN community and create digital assets of your favorite entities