Indorse, a new social platform built on Ethereum seeking to change the shape of professional social networking has commenced its Token pre-sale leading up to its official token sale which starts on August 8th, 2017. Unlike traditional social media platforms such as LinkedIn, the Ethereum-based Indorse network aims to give ownership of your data back to you, as the user, and allow you to profit from sharing your skills and activities on the platform.
Commitments for the pre-sale are currently being accepted through the terms of their website and this blog post. Indorse has been the first known blockchain startup to utilise the Ethereum Name Service (ENS) to help combat phishing and fraud scams which have plagued some other high profile token sales in past weeks.
Compared to other blockchains, Ethereum provides the compute engine capability and transparency needed for a decentralized economy to succeed and incentivize its own growth. The platform will be integrated with a number of decentralised applications (DApps) such as: Inter Planetary File System (IPFS), uPort identity system, Attores Certificate Issuance Platform, Truffle, Spectrum and Status.
Within Indorse, users post claims which are related to their personal or professional achievements, such as; earning a diploma, completing a marathon or learning to play the guitar. Other members indorse a valid claim using an anonymous voting mechanism called zero knowledge proofs and flag if the claim is invalid. For valid claims, your & indorsers’ Indorse score(your score on the platform) will increase. For frivolous claims, the score will be reduced.
“Indorse will allow users to profit from sharing their skills and activities on the platform via reward tokens. We envision a serverless, decentralized future, where the users will build their profiles and profit from their reputation. This future will need a decentralized platform where others can judge the quality of a person’s profile not just by where they have gone to school, but what they have actually done in their professional and personal lives.”
In June, Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies has announced the completion of its investment of SG$100,000 in Indorse.