Most people have encountered issues of trust on the internet, whether in dating or in business. The Internet has significantly increased the volume of possible social interactions; however, with this, the potential for deception has increased. Against this backdrop, HubToken addresses a very important problem.
Typical problems that arise due to the Internet:
- Content may not be accurate or deliberately false.
- The average person has around 150 contacts whom they trust based only on a personal connection level.
- Leads can be generated online, but people still want to rely on face to face communication to finalize the transaction, especially concerning bigger checks.
- Users’ reputation is scattered all over the net on different platforms, such as LinkedIn, Facebook and so on. Many users do not update it or fake it.
- Reputation data typically belongs to the centralized application, which can change it, like your rating, amount of bonuses, etc.
- It is hard to import one’s reputation from one platform and community/business field into another.
- Users face difficulties when they want to create their initial reputation online: the chicken or the egg problem.
Hub introduces a “trust stake”. Basically, stake represents a deposit in a Hub token which will serve as a guarantee for the fulfillment of obligations by the parties of interest. Stake serves in addition to the reputation, meaning the higher the reputation, the smaller of a stake is needed. The stake may be required by both parties of the interaction. If the interaction is successful, the stake is returned to both parties and reputation is increased. If there is a dispute, 3rd party arbitration will take place and the winning party will get the other’s stake and there will be mutual changes in the reputation record.
To achieve its end, the project will launch the Hub App, a user-friendly social network similar to Facebook operating on Hub Protocol.
If information is the main commodity of the digital era, then trust is the main road. Trust is an intrinsic part of every transaction. Transactions happening online will only increase, so one can expect that digital trust will be in demand. Actually, the main point of blockchain is trust, not TPS.
Users of the Hub platform can derive the following benefits:
- Verifiable & portable trust
- Self-sovereign reputation data
- Multi-dimensional reputation
- Context-sensitive trust scoring
- Incentivization of trustworthy interactions
Roadmap and status
The team has already have successfully implemented ICOHub.
A native token called the Hub token provides incentives for promoting trust between users and participating in the generation of reputation data in the Protocol. Users who earn Hub tokens through the activities in the network are consider miners, for they contribute in proving trust by participating in the creation of reputation data.
Hub protocol has the following ecosystem:
The market represents the various methods by which users may be able to trade Hub tokens, whether on market exchanges (or via automatic swaps).
A foundation has several objectives. First, it will be responsible for providing stake rewards to users following the completion of tasks. (Details of stake rewards are described in the following section). Secondly, it will generally incentivize ecosystem development, including the creation of new and useful tasks by developers.
- Pledge Hub Token in stakes
- Pay for the operation of nodes and task developers
- Make actual payments for tasks
- Node operators mine tokens in exchange for operating their nodes
- Developers who create task templates will mine tokens from Task participants who use them.
- There will be a reward pool of Hub tokens which will provide additional incentive for a successful interaction.
Total token supply: 1.75 billion HUB tokens. Below is a breakdown of the key token metrics.
Founder and CEO of the project is Eric Ly, one of the co-founders of LinkedIn.
CTO Rich Miller is a founder of consulting company Telematica Inc., which specializes in Big Data and Cloud Computing. He specializes in tech and commercial implementation strategy for distributed applications.
Miko Matsumura is a General Partner of Gumi Cryptos, a $30M crypto asset fund, a Limited Partner with Pantera Capital’s $100M ICO fund, a Venture Partner with BitBull Capital and an advisor for Arrington XRP capital.
Nikolai Oreshkin, Chief Advisor to Hub is a Managing Partner at Elysium Venture Capital, a venture fund, which specializes in early investments in tech startups with more than $200M under management.
We see many prominent advisors from big-name funds such as Greylock Partners (3.5B under management), Fenbushi & GF Network, Accelerated Digital Ventures, Blockchain Capital and projects such as Tech Crunch, BitGo and ConsenSys Reputation AI Systems and Sovrin.
We see prominent investors in the list of Hub supporters. I like the fact that it has quite a list of actual venture funds versus crypto funds as venture funds have a stricter due diligence process in what comes to tech and business potential as well as a long-term investment horizon.
A definite must go. The team is made up of all-stars, and the founder has already launched one of the most successful networks on the planet. The product itself uses the main core advantage of blockchain (“trust”). The token has well developed token economics and use cases, with a staggering market to cover.
- The hard cap is rather high. Although many private sale tokens would be locked. -1.5
- General crypto conditions are not favorable -1
- All-star team: co-founder of LinkedIn, partners from venture funds and other tech projects on board. We see a team that can lead easily lead project to wide adoptions and development from technical and business point of view. +3
- Token economics is clear, use cases of the token are substantial. +2
- We see many traditional VCs on board +2
- The biggest portion of tokens will be locked from 3 to 9 months. Tokens from U.S. investors will be locked for 1 year as per U.S. regulation +1
- MVP in form of mainnet is there and ICO hub PoC is available as well. +2
We see a project with good short term investment potential(valuation or circulation after listing maybe less than 6m). Long-term potential looks even more promising as potential market and applications are immense. 7.5 out of 10.
- Type: Utility
- Symbol: Hub
- Platform: Native
- Crowdsale: TBA
- Minimum Investment: TBA
- Price: TBA
- Hard Cap: $20 million
- Payments Accepted: ETH, USD
- Restrictions Barred from Participating: TBA
Website : https://www.hubtoken.org/
Whitepaper : https://www.hubtoken.org/
Telegram : https://t.me/hubtoken
POC : http://ico-hub.org/search