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This page is summary of Verity's main concepts and ideas. For the technical details, click here for the full whitepaper!
Why Reputation and Trust?
Traditionally, online communities have fallen into a trap of either being too closed, and therefore lacking freedom – or too open, leading to a lack of quality. Juggling demands between retention and shifting trends, websites struggle to face the barrage.
These problems can be solved with proper reputation and governance solutions, but there is no general purpose or universally accepted way to implement online reputation. Even if a site goes through the expense to build their own reputation system, user data is simultaneously withheld from their personal use and sold to private third parties. Lacking reliable online reputation tools, website growth isconstrained by the user's ability to fully trust the websites they use, content they see, and peers they interact with.
What is Verity?
Verity is a reputation and governance protocol built on Ethereum. It helps websites identify, reward, and motivate their most valuable users, as well as crowdsource the best and most trustworthy content with them.
This achieves alignment between the interests of users and the interests of platforms, enabling them to share values, goals, and even profits.
Who Needs Verity?
Online Communities - Forget moderators and banish trolls. Users have the ability to manage and transfer the value of their time and talent providing a win-win incentive for matching highly productive users and communities. Verity's Value Rank rewards users that follow community values. Verity’s algorithms quantify exactly how contributors follow guidelines and benefit the community. Users have the ability to migrate to the most equitable communities that share clear, easy to understand guidelines and serve their best interests.
Crowdsourcing - Verity help quantify how much value experts and users add to crowdsourced content. Verity helps sort contributions based on how effective a user has been in the past, and provides a full history of a user's contributions and those contributions' worth.
Ethereum Ecosystem - Smart contracts are great at making clear, robotic decisions that can be programmed in code. However, what's missing from the Ethereum ecosystem is a way to make fuzzy decisions that require human judgement in a decentralized way. With Verity's governance solutions, smart contracts can finally answer questions such as "Does this decision have integrity?," and "Is this content suitable for children?" in an entirely decentralized and attack resistant manner.
- Groups and contributors gain tools to self-govern their interactions according to their own self-interests
- Communities gain tools to define their own values and types of reputation
- Verity API provides an immutable universal decentralized reputation and governance system to unify online and offline worlds into one collaborative experience
- Verity protocols help communities build one trusted reality, which is self-governed, operates autonomously and independent of any centralized authority
- Web sites gain faster time to market and access to tools and networks
- API integrates with standalone web communities and future on-or-off blockchain platforms
- Plug-and-play API allows for rapid experimentation on reputation metrics
- Automatically reward and celebrate your best contributors
- Proactive community tools to thwart toxic behaviors before they happen
- Share reputation between apps for easy onboarding and retention
Verity combines skills and metrics in powerful ways to govern communities. Communities can therefore be self-governing and decentralized.
As these reputation metrics begin to be used in more and more applications, Verity creates a global network of the world's top experts, to address the world's most pressing problems.