Pandora Boxchain Created Reputation Token for the Ethereum network

Pandora Boxchain Created Reputation Token for the Ethereum network

AI Blockchain Press Releases
September 13, 2018 by Leo Webb

SEPTEMBER 9th, 2018 — Pandora Boxchain team has created a reference implementation of the ERC1329 – Inalienable Reputation Token during ETHBerlin Hackathon. This first version of ERC1329 token is available on GitHub. The project invites crypto enthusiasts to enter into discussions about  ERC1329 on Ethereum GitHub or the project’s Telegram channel.

Why a Reputation Token Is Important?

When building trustless decentralized P2P networks, we may need to utilize multi-stage/repeated games (in terms of game theory). In such cases, reputation becomes the measure that helps to build economic incentivization schemes for the selected economic game. The reputation works as a “glue” that ties together the actor responsibility over time, creating an ability to utilize the strengths of repeated economic games. The main property of such reputation should be inalienability.

In this case, reputation system needs some specific kind of token, that can’t be transferred between actors. Why? Because if the reputation may be transferred, it can be sold; and if it can be sold, it breaks the whole game setting and economic incentives, creating different Nash equilibrium and generally getting worse protection from malicious actors (lower Byzantine tolerance). Also, we should remember that private keys of the account can be compromised, so the owner can loose tokens but not reputation.

Co-founder of Pandora Boxchain Maxim Orlovsky said:

Reputation token is not a replacement for usual tokens with economic value and market price. It’s an addition on top to them, that is sometimes (not always) needed to build provably-secure incentivisation system.”

About Pandora Boxchain

The project’s goal is to create world decentralized artificial intelligence the same way Bitcoin has created world decentralized payments and Ethereum — world decentralized computer. The Pandora Boxchain’s team believes that our world will be expanding into decentralized artificial intelligence soon, and thus decentralised, trustless, and global computing network is needed. That’s why the team is creating Prometheus Consensus, their own consensus protocol. This uses Reputation and Stakes mechanics to protect the network from being compromising by malicious behavior of some participants.

Currently the team invites blockchain developers, visionaries and end-users interested in AI to enter into discussions about future of the Blockchain, AI and ML, share ideas and take a part in developing open source ecosystem of Pandora Boxchain. You can get more information on the official website, telegram channel or reddit.