When we open Alipay to check our "Sesame Credit Score" or submit a central bank credit report when applying for a mortgage, this practice of quantifying personal credit into a verifiable scoring system has already permeated the capillaries of modern life.
The level of Sesame Credit score directly determines what kind of services we can enjoy; the higher the score, the more services we can experience without a deposit.
Many newcomers inevitably encounter unscrupulous bloggers promoting so-called rug pulls on Twitter, or they put in a lot of effort to earn a project, only to be backstabbed by the project team. Such incidents happen frequently, leaving retail investors in a position where they can only suffer in silence.
In today's information age, with the continuous development of blockchain technology, is there a way to leverage the transparency of blockchain to establish a credit point system on the blockchain? Thus, Ethos was born in this context.
Ethos Network emerges in this desert of trust, building a decentralized "digital credit ID" system using blockchain technology.
The project introduces a real-world credit assessment paradigm into Web3 through on-chain credibility scoring (ECS), allowing users to bind social accounts like Twitter to generate tamper-proof DID identities, much like engraving a unique trust emblem on the blockchain.
If you believe that what he does damages his credibility, then fine, just give him a downvote, and the credit score will directly decrease based on the result.
Staking ETH as a guarantee (Vouch) is similar to co-signing in reality, but achieves automatic profit distribution and dynamic risk settlement through smart contracts.
Reporting malicious behavior (Slash) upgrades the traditional credit dispute process, allowing community members to act as a "chain jury" and using economic game theory to curb the impulse to commit wrongdoing.
Such a system solves the fundamental problems of on-chain credit systems and should be a win-win for all three parties.
➤Project Parties: Project parties can filter their needs based on KOL's ECS scores, while KOLs with low credit scores will be directly excluded. At the same time, project parties can see their own credit scores in real-time, facilitating attracting more retail investors and KOLs for cooperation.
➤KOL: KOLs can establish their own credit systems through Ethos, securing a place whether they are facing retail investors or project parties.
➤Retail Investors: Retail investors can directly see the credit scores of project parties and KOLs through a Google browser extension, allowing them to identify the quality of KOLs and project parties, making their investments safer.
When you see a counterparty's ECS score reach 1600 points on Ethos, it's like seeing a landlord provide a good central bank credit report when renting a house. This trust transfer based on algorithmic consensus is reshaping the value exchange rules of Web3.
Of course, Uncle Bird knows his capabilities are still quite limited, but he is at peace with himself regarding his conduct. At least I treat every fan who follows me sincerely and hope to continue to work hard in the future, learning from other big names how to create better works!
From earning XP points through community governance participation to buying and selling credit votes in the credit market, Ethos Network liberates the credit system from the black box of centralized institutions, allowing every on-chain action to become a building block of digital credit, ultimately weaving into a decentralized trust network covering wallet addresses, DAO organizations, and even dApp applications.
