DREP and OATH Protocol Partnership Redefines Community Building in Cryptospace
OATH Protocol (OATH) and DREP Foundation (DREP) have announced today the signing of a Memorandum of Understanding (MoU), which will see both companies work closely to provide more meaningful, engaging activities for community members in the world of decentralization.
One of the impediments to effective community building is its low retention rate and lack of engaging activities which community can see value from and support. Blockchain effectively affects how a bunch of individuals can rapidly become part of a community with a whole different take on the way the world operates. To maintain the vitality, you can see that a strong community involves sharing the beliefs for the same idea and being hooked into that group with a tangible and meaningful commercial stake.
OATH is designed as a multipurpose governance and dispute resolution protocol. Modelled on the common-law jury system, Oath provides a decentralized jury community for blockchain ecosystems for dispute resolution. Core concepts such as game theory, free market price mechanism, shared community, categorized random algorithms, relational attributes, and cryptography entirely replace centralized decision making parties.
DREP is committed to building a performance-oriented technology infrastructure supporting high transaction capacity for an ecosystem generating valuable reputation data. On the protocol layer, 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.
Having OATH on board means DREP’s reputation networks has reached a new level by adding the jurisdiction puzzle on the map. This joining hands of OATH and DREP will allow OATH to select high-quality users from DREP’s reputation user pool and grant users with high reputation a better position in the jury community and more accuracy in the judging procedure. When disputes arise regarding a sudden change in reputation value in the future, OATH’s chain-agnostic protocol can be of usage in DREP ecosystem for dispute resolution. Therefore, community members from both parties can benefit from this partnership and reputation value will then be truly unleashed and incentivised.
“In the world of decentralisation, users with a good reputation portfolio will be wanted across different platforms and given proper economic incentives. This partnership will facilitate a more engaging, high-quality and interconnected internet community with the willingness to contribute and flourish,” said Xiaolong Xu, co-founder of DREP.
Yin Xu, co-founder and CEO of OATH Protocol said, “From community building aspect, the collaboration between DREP and OATH will significantly leverage product design and effectively motivate members from both projects to engage in reputational or meaningful activities such as contributing the fair share in solving disputes as a renowned jurors.”
Additionally, both companies will be sharing their CSR activities, working towards promoting educational activities to blockchain enthusiasts across online and offline channels, with the long-term goal of bringing talents, technologies and innovations together to help facilitate the building of meaningful crypto community and encourage broader adoption of blockchain technology.
We look forward to this partnership between OATH and DREP to bear fruits and benefit users from both ends.
ABOUT DREP Foundation
DREP Foundation is devoted 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 highly scalable, modular blockchain architecture for deployment of a reputation protocol that any types of platforms can use.
To learn more about DREP, check out their website, Telegram, Twitter, Medium, LinkedIn, Reddit, and Steemit.
About Oath Protocol
Oath is designed as a multipurpose governance and dispute resolution protocol. Modeled on the common-law jury system, Oath provides a decentralized authority for blockchain ecosystems. Core concepts such as game theory, free market price mechanism, shared community, categorized random algorithms, relational attributes, and cryptography entirely replace centralized decision making parties.