Layer Protocol
Status:
Announced ICO
Token:
LRX
Start:
30-09-2018
End:

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Comments

  1. Please read our Frequently Asked Questions (FAQ)

    Synotiv , 2018-08-22 14:57:59

  2. Introduction to Layer Protocol

    Synotiv , 2018-08-22 15:15:47

  3. One bad actor's $18,000 damage to Airbnb

    Synotiv , 2018-08-23 17:34:16

  4. How the Sharing Economy Should Evolve

    Synotiv , 2018-08-23 13:00:22

  5. Layer Dev Update — August 20 ‘18

    Synotiv , 2018-08-23 12:38:00

View all topics

pinprotocol 23 Feb 2018 22:06

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Project: Layer Protocol - Decentralized reputation authority for the global sharing economy

Token: LRX

Join the Telegram: http://t.me/layerprotocol

Whitepaper: https://docsend.com/view/esxs96z

Summary:

The Layer Protocol is a borderless reputation and incentive system that unifies sharing economy companies across the world, creating a next-generation, decentralized global authority of user behavior reputation.

Layer's first partner is Spin, the leading urban and campus smart mobility provider, with smart scooters and bikes in over cities all over North America. Spin, a venture-funded company is in over 70 markets, has served 1M+ users with 1M+ rides, in less than a year. The partnership with Spin will make Layer the most used blockchain protocol in the sharing economy, and get LRX in the hands of the masses.

Layer's ERC-20 token ("LRX") provides the economic incentive for computation of complex reputation scores (by master nodes), encourages adoption of the protocol, and drives community governance.

The Layer team has experience at Y Combinator, Lyft, Samsung, Fitbit, and Stanford. Advisors of Layer include the founders of Ink (XNK) Protocol, Origin Protocol, among others.

Problem:

In recent years, asset-sharing has become the foundation of a new generation of multi-billion dollar companies. These companies have changed the way people view the concept of ownership, and the industry as a whole is poised to hit $40 billion in revenue by 2020.  Companies that rent out assets, or run two-sided marketplaces, include Zipcar (short term car sharing), Spin, Mobike, ofo (stationless bike and mobility sharing), Airbnb, Sonder, Zeus (short term rentals), and Ankerbox (battery sharing). Rideshare companies like Uber and Lyft will also evolve to become asset sharing providers as they move to effectively renting out autonomous vehicles.

Despite this paradigm shift in ownership, the sharing economy is not designed to encourage users to treat these assets as if they were truly their own. This hurts providers, platforms and users by increasing the cost of providing these assets and services, which ultimately limits the potential of asset rental businesses, and the sharing economy as a whole.

However, these existing reputation systems are either non-portable or are managed by a private entity. Currently, the most portable best measure of a consumer's responsibility is their credit score, which is revealed only in very limited circumstances and only takes into account financial considerations. Sharing economy platforms use their own internal measure of reputation to encourage positive behavior – think Uber’s and Airbnb’s five star ratings.

Solution:

The Layer Protocol is a borderless reputation and incentive system that unifies sharing economy companies across the world, creating a next-generation, decentralized global authority of user behavior reputation. Access to user behavior history, and an aggregate representation in the form of a reputation score, will be a vital influence in the relationship between asset providers and their users, in terms of assessing the risk of renting to a given user, ensuring the assets are kept in good condition, and offering better prices to users with a history of positive behavior.

Layer can be easily adopted by existing centralized platforms, DApps, or direct P2P transactions where reputation plays a role (eg. subletting an apartment on Craigslist).  With Layer, asset providers will be able to:

1. Access network-wide reputation scores of their users, akin to a credit check, which they can use to determine an appropriate level of service (e.g. charging deposits for lower reputation users) and benefits (e.g. rewards in LRX for parking a scooter responsibly);

2. Benefit from pre-built infrastructure and algorithms to store and calculate their user’s reputation scores;

3. Build their own reputation by positively serving their customers.

About:

Founder Bios:

Euwyn Poon - http://www.twitter.com/euwyn
Euwyn is entrepreneur, lawyer and software engineer who has been involved in the blockchain industry for 5 years. In 2014, he co-founded Delta, one of the first projects to offer interest-bearing Bitcoin accounts, which was backed by Y Combinator, Initialized Capital and Winklevoss Capital. He has spoken at CoinSummit London and Inside Bitcoins and has been featured on Bloomberg, Wall Street Journal, New York Times, Forbes, Vice, CNBC and Fox Business News.

Website:

http://www.layerprotocol.com

Press:

https://hacked.com/ico-analysis-layer-protocol-lrx/
https://coindrift.io/layer-protocol-ico-review/
https://www.youtube.com/watch?v=lsjAVNx9Yso

Join the Telegram: http://t.me/layerprotocol

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Layer Protocol was formally known as the Pin Protocol - https://medium.com/layerprotocol/announcing-layer-the-new-name-of-the-pin-protocol-9d6b8056ed4b

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Information

The decentralized reputation protocol for the global sharing economy, built on the blockchain. Even the bigger players in the sharing economy today have no way of knowing a new user's value before their first transaction. Bad actors moving from one service to the next one are a huge expense in the industry, and these costs get passed on to other users through increased fees. There is currently no way of sharing user reputation data between asset sharing companies. Why would Airbnb even give away their user reputation data to competitors or let's say Uber? While more than 72% of the US population has used at least one sharing economy service, the number for Uber or Airbnb is less than 25%, meaning there is a vast amount of reputation data shared on all sides, and it can drive down operation costs significantly. Layer Protocol aims to resolve the issue, and will first be adopted by Spin, a stationless e-scooter platform. Live in over 50 markets in the US with over 1M rides in less than a year. Layer Protocol will be Spin's base layer for reputation and rewards. Users will be rewarded when their reputation increases.

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