PRIMARY (PRY) is a dApp on the EOS blockchain which functions for the users as a gate to an ecosystem that consists of coworking, coliving and partnering businesses. PRY is a token which has a set of smart contract dApps built around it, basically fuelling the decentralised application. As well as the token smart contracts on the platform there will be several other smart contracts on the EOS network, which will handle a reward distribution logic and other aspects of the platform. Hereby we enable our members to govern themselves using the rewarding mechanism.
Members will be able to message each other, thus the community will have the possibility to submit proposals and assignments onto the platform.
Additionally Artificial Intelligence (AI) is leveraged, analysing the skills of users and matching them up, proposing tasks for them to complete, rewarding them for their interactions.
The core of the system is the rewarding mechanism and the voting modes. It incentivises each individual to assess completed tasks of other members and up vote their work in the form of giving energy. Votes will give value only to contributions the community finds useful, incentivising to create only quality content or tasks.
What is a blockchain?
To put it simple, a blockchain is a type of distributed ledger or decentralized database, which can keep records of constantly updated information. It is a system of connections (nodes) that are in sync and updated simultaneously through the internet.
There are public and private blockchains, which offer limited access. The latter allows admission only through an exclusive membership. Instead of a central authority that manages the data distributed ledgers empower anyone in the network to use the data. All nodes need to agree on data and nobody can single handedly temper it. That is why we have consensus protocols which form the basis of cryptocurrencies.
PRY will adhere to the ERC-20 token standard which will also be mintable in order to administer rewards and airdrops. In exception of the token contract itself the platform will have several other smart contracts on the EOS network that will reward distribution network.
What is EOS?
EOS was founded by Brendan Blumer and Daniel larimer from Block.one. It is a technology referred to as smart contract platform and cryptocurrency. The protocol on an EOS blockchain will run smart contracts (technical support when conditions are met on a contract) and it is the foundation for the distribution of decentralized applications such as the PRIMARY platform.
For this article we will be referencing EOS mainly as the smart contract platform not the cryptocurrency.
PRIMARY — What are the benefits of using the EOS platform?
We at PRIMARY feel EOS is the most promising technology that will enable us to deliver an excellent user experience as well as upscale in the future. The PRIMARY community is provided with a powerful encrypted platform and mobile application which can be used for everyday interaction and transaction.
Decentralization
Building PRY token on top of the EOS blockchain we anticipate to create a self sustaining decentralized community. It is a technology that is probably more decentralized than pool-based mined coins.This has the advantage that for example 21 voted blockchain producers have equal power rather than 3 mining pools controlling 51 percent. Further, EOS uses the Delegated Proof-of-Stake (DPoS) consensus algorithm. This alternative consensus algorithm is for Proof-of-Work (POW) or Proof-of-Stake (POS). It basically requires coin holders to decide on ‘delegates’ who will be in charge of validating the transactions and the blockchain. The reason they are elected is to allow the system to stay decentralised instead of becoming a centralized system.
No transactions fees
EOS raises no transaction fees for using the platform. We love this idea and want our users to get the most out of the platform whilst keeping the cost down to a minimum.
Open source
Users do not pay fees for using the product respectively the smart contract, as is the case for ethereum (ETH). Rather the developers pay the fees for the users as this approach complies with the usual business model.
Scaling ability
EOS scales up to multiple thousands of transactions per second (TPS), so it is much better suited for industrial scaled apps. While an ethereum platform for example can only support 25 TPS at the moment.
Multiple access
You can access multiple platforms with a single EOS account. Basically you can access all platforms built on top of EOS.
Programer friendly
EOS uses c++ programer language and later other languages that compile to WASM´. The benefit of c++ is that it is a well established language with decades of experience, so finding programming help should not be an issue. Another asset is the better storage model also called multi-index tables.
Stay in touch with PRIMARY
We will soon release a yellow paper to clarify further aspects of the usage of EOS blockchain.
For more information regarding token distribution and the team behind the project visit PRIMARY. Or get the latest announcements by joining our email list.
Join the Telegram group to become part of the PRIMARY community and stay up to date with the latest news. You can also stay up to date with the latest news via Twitter.
