CheckDot, one of the leading tech companies, in a recent news report, has announced the launch of an anonymous project validation platform of the same name, CheckDot. Besides allowing crypto users, traders, investors, and firms to find out the legitimacy and trustworthiness of a specific project, albeit anonymously, this platform integrates a ton of other features ranging from smart contracts to codes, and the nascent non-fungible token [NFT] market.
Built on the advanced Binance Smart Chain [BSC], CheckDot will become the first “opinion-focused platform” in the ecosystem. The idea behind this project, as unequivocally stated by the development team, is to aid the unearthing of hidden information about blockchain-based projects through the collation of real-time opinions of others on the blockchain, thus, helping to rekindle the dying trust clients and users have in these existing projects.
Incentivizing Users on the CheckDot Network
While introducing this remarkable feature that solves one of the biggest problems in the crypto space, CheckDot, per the team, is working to also be an alluring passive income source where users are incentivized for engaging in activities on the network.
From contract auditing to e-commerce pre-verification opinions, service trust analysis, business verification, NFT trust indexes, anonymous forms, etc., CheckDot will reward participants for executing any of these actions.
To get started, however, users will need to own a certain percentage of the platform’s native token, Check Dot Token [CDT].
Community members will need to hold CDT to access and subsequently initiate the verification process on the network. In an unprecedented fashion, these network participants, per the aforementioned report, will be rewarded in the form of CDT each time they complete any of the prior mentioned activities.
This is part of the CheckDot team’s strategic plans to encourage users to reveal unbiased, unique, and well-researched information about some of the upcoming projects.
Addressing the Trust Deficit in the Trillion-dollar Crypto Market
With demand and interest in digital currencies currently over the roof, especially with the launch of trends like NFTs, DeFi, and the Metaverse, the space has become replete with plethoras of projects seeking to solve one problem or the other. Whilst helpful in the proliferation of the market, some of these projects and their claims are impossible and somewhat unrealistic. The activities of scam projects have created a massive trust shortfall that if left unresolved could mar the colossal efforts enthusiasts have played in the heightened acceleration of the crypto market.
CheckDot attempts to address the trust deficit that is prevalent in the crypto space by aiding company owners and project founders to regain the trust of their users.
Ferreting out fake projects has become a herculean task at the moment, armed with this knowledge, CheckDot has deployed efficient and tech-based solutions to dispel, indefinitely, this major sticking point, thereby restoring the trust and confidence users have in these projects.
Keen on eradicating this huge problem, CheckDot through decentralized anonymous validations of brands, firms, and projects in the industry will put an end, ushering in a new crypto world where projects with unverifiable and false claims are exposed for what they are — fraudulent projects.
The CheckDot Roadmap
Offering a ton of services, the CheckDot team, as recently revealed, will kick off the second phase of its service platform where community members will have the rare privilege of verifying firms and other special projects. Additionally, plans are underway to have the CDT token listed on other exchanges besides Pancakeswap.
By the end of 2023, the company should have launched its decentralized autonomous organization [DAO] which will see members contribute, to a greater degree, to discussions centered around the integration and implementation of future projects, the team reveals.