Reputation V2

Problem Statement

A blockchain based reputation system allows immense amount of analytics. For this, we need consistent and regular rating behaviour by users.Pain points of the existing system includedPlatform manipulation - Merchants can buy reputation score or remove comments/ratings hurting business without improving.Stale rating - Once a large reputation score is achieved, bad performance doesn’t reduce it due to an averaging.By creating a mechanism of incentivising users to provide ratings every time and for every experience, it attempts to bring promote consistent ratings and more real reputations based on activity.It solves problems like Platform manipulation and stale reputation scores.It can be applied to various categories - Merchant platforms, B2B, B2CIt introduces a decaying reputation and tokens and rewards activity and participation.DAO controlled reputation calculation mechanisms(replaceable calculations, updatable thresholds)REP tokenThe users are rewarded a REP token for every review.REP token can be burnt to boost reputation score(within limits). This helps upcoming businesses improve Reputation score.Customers can redeem their tokens for discounts by transferring REP to businesses.REP can’t be traded across accounts and hence can’t just be bought.REP tokens and Reputation score both have a decay rule built into them. Being active is the only way to keep it up.[nb: I proposed this idea in a previous hackathon(no code implementation). However, this time I have added more detail and some code implementation.]

Solution

The mechanisms that require calculation(reputation and reconciliation) might require a lot of on-chain updates. Still focused on this on and evaluating rollup options to minimize transactions.There are user safety aspects as the rating can indicate user location and identity. Evaluating a ZKP based approach with randomization and batching.