DREP launches mainnet explorer to promote on chain transparency

DREP, the connector and toolkit on blockchain, has recently announced the launch of its proprietary explorer — an great platform which enables everyone to collect information about blocks, hashes and TXs on the DREP mainnet.

You can read all your and others’ transactions by using DREP explorer, such as online data streaming, DREP nodes, and addresses. This powerful control panel can also be used to get a deep understanding, and even insights of DREP. Furthermore, it can let you check the status of all on-chain activities, which is very important because DREP is not only a set of tools but also a store of value.

DREP Mainnet Explorer：http://explorer.drep.org/

The Corporate Veil

Why is the launch of explorer a significant milestone in DREP’s development, or potentially in every public chain’s development? What is explorer’s unique feature that sets itself apart from the rest of the blockchain?

Transparency

First consider all those unicorn projects that raised billions of dollars before the stock prices fell down and went broke. These catastrophic events are good examples. Many received sky high valuation in pre-IPO rounds. However, questions soon emerged when they published their statements. Experts examined their financials, finding many inconsistencies. In venture capital, the information is accessible to few privileged individuals. They have the right to use other investors’ money at will. It’s not rocket science to figure out that they are eager to raise the price at all costs so they can get higher return rate.

In fact, blockchain is providing the world with a chance, and if we use it well, we can let the community decide for itself, instead of relying on the judgment of regulators, who because of centralized power corrupt absolutely. Innovations such as digitized securities are born with the philosophy “can’t be evil”, and that may spell the doomsday for traditional stocks. A DREP could be a part of a business, a property, and other assets. DREP is permanently written on chain with all activities 100% viewable by our users.

The DREP Solution

However, now we are able to penetrate all this opacity with the blockchain. DREP has a decentralized database that enables you to examine every single trade. In the future, even in angel investments, all the data will be fully verified from the start. Sharp price decline can be prevented.

Blockchain has the power to open a new age of the stock market. Thanks to it, we can value public companies more accurately truly from their business operations. Investors will be more confident of their decisions, minimizing friction costs. Even regulators will probably not be needed any more because blockchain places the board under the watchful eye of everyone.

In the decentralized future, businesses will actually vie with each other to become increasingly open. This seems contradictory to common Wall Street knowledge, but Wall Street may have already been history. Now, in DREP’s opinion, transparency leads to trust, and in the long term, the trust accumulated over the years will pay off. Even regulatory agency does not need to be a necessary evil as they have no control over private information.

Though many conventional financial experts are yet to believe in blockchain, we’ve already seen pioneering companies like Landream and Bijiaqi adopting it in their workflows. Mature decision makers need to invest and the surplus value of transparency will demonstrate itself. Especially, Dapps that have high utility value, versatile, and trustworthy can propel the development of blockchain.

The Use of Blockchain Explorer

The DREP explorer is designed partially to educate users of the knowledge of cryptocurrency. At the same time, the product will bring a next generation experience for you.

Through DREP explorer, you will be able to view the status of the transaction; does the sender send DREP from his or her own address, or from a third party account? You can get the information and make analysis. This operation has far more authenticity than the current banking system. In addition, viewers can get DREP data graphs, statistics and more.

Application

Much data is produced by DREP explorer, which at first seems overwhelming, but finally, after users get familiar with the inner workings things will soon start to make sense. The explorer will be your best helper in the realm of decentralized finances.

For example, when a miner finds a new DREP block, every node adds it to the chain immediately. By delving deeply into a certain block, you can examine how much data it contains, the hashes, and perhaps most notably the transaction information.

If you would like to gain insight into the process of current reward distribution, the DREP explorer may also be very useful. This knowledge could be important to everyone; it is a great way to view the generation of blocks through mining and their distribution. There are also many other functions.

Many investors do not see the advantages of a blockchain explorer. However, there is a lot that can be done and discovered if we use its capabilities to the fullest. As we all know, DREP will roll out staking after mainnet finishes the docking processes with exchanges. The DREP protocol will select 21 nodes based on the account’s stake and the number of votes. They will have mining access for the next cycle. Each mining node gets an annualized rate of 16%.

The mining node gets 80% of the staking reward, and the remaining 20% is distributed to the voters. The annualized rate of voters is inversely proportional to the number of voters so as to encourage them to support new mining nodes. Did you know how to ensure the full transparency of staking and DPOS mechanisms? How to regulate the voting process? You can use DREP explorer!

DREP makes sure that our distributed ledger is well maintained and open to everyone. Higher transparency builds trust and reputation for the longer term. For instance, in the real estate business, access to financial supply chain from blockchain technology may be preferable. That is the reason Landream and DREP formed a strategic partnership.

DREP is moving forward in full throttle. Excellence, brilliance and a fighting mentality are hardwired in our team’s culture. I firmly believe that in the new decade we will begin to see a wave of change. The DREP Foundation is eager to see new revolutionary changes to come after Mainnet 1.0. Come with us into the future!