Pandora Boxchain Develops Reputation Token
Maxim Orlovsky, the co-founder of Pandora Boxchain announced that the Pandora Boxchain team has developed a reference implementation of the ERC1329 token. This token is available on GitHub. He continued saying that this token is not a replacement of the normal tokens that have a market price and an economic value, but are an addition to them. He said that these tokens are sometimes, but not always required to create a reliable and secure incentivization system.
The Importance Of The Reputation Token
Developers need to use multi stage/repeated games (relating to game theory) when building P2P networks that are trustless and decentralized. In such a situation, reputation tokens act as the measure that assist developers build economic incentivization schemes for a particular economic game. This reputation operates as the binding factor that brings together the actor responsibility over the time, and enables an environment to use the powers of repeated economic games. In such a reputation, the main aspect should be that of inalienability.
There is need in such a reputation system for a special kind of token that can be moved from actor to another. Such a special token is necessary because if it is possible to transfer the reputation, then it would be possible to sell it, and if it can be sold, it consequentially breaks the entire game’s setting as well as he economic incentives. It creates a different Nash equilibrium and as whole gets the worse security from malicious players (lower Byzantine tolerance). Keep in mind that it is possible to have private keys compromised, exposing the owner’s tokens to theft, but not their reputation.
Pandora Boxchain Project Main Goal
The main goal of this project is to come up with a globally decentralized artificial intelligence, much the same as Bitcoin’s world decentralized payment system and the same as ethereum’s world decentralized computer. The team behind the Pandora Boxchain project believes that soon the world is moving to a decentralized artificial intelligence (AI), and thus the need to develop and launch a decentralized, trustless and a worldwide computing network to support such a system. In line with this, the team has set about to creating its own consensus protocol called Prometheus Consensus. The protocol utilizes the Reputation and Stakes mechanism securing the entire network from being compromised by some participants malicious behavior.
The team has been working with a number of experienced developers to make it a success. They are currently inviting blockchain developers from around the world, visionaries and end-users that have an interest in AI to discuss and come up with ideas concerning Blockchain’s future, as well as that of AI and ML, and part of the team to develop Pandora Boxchain open source ecosystem. For information about this project, check the team’s official website, reddit and telegram channel.