search
Only on Eduzaurus

Gsenetwork is Disrupting the Sharing Economy

Download essay
Need help with writing assignment?
75
writers online
to help you with essay
Download PDF

There comes moments of trial in business. The owner’s ability to stay cool is a necessity. Challenges come and go but at some instance, you cannot do it alone. You need third-party input to scale through.

Some of these challenges are not from the outside world. Stakeholders in a business might through their inactions bring up issues that might threaten the business’ existence if not checked on time. Unsupported ideas if applied to a business will definitely breed problems. A partner that brought such ideas might come under fire for making baseless contributions.

Essay due? We'll write it for you!

Any subject

Min. 3-hour delivery

Pay if satisfied

Get your price

Thus, a business should have access to verifiable data. Aside this, they can forget partnership with other companies with like interest. Mergers and Acquisition had done fairly well to that end. Its downside was loss of businesses when the going is rough. Shared economy on its parts proved a better alternative. At the moment, its use is in conventional settings such as what we have on AirBnB. This has crossed into social media especially after the launch of Web 2.0. GSENetwork is here to facilitate full-scale devolution of powers of the shared economy.

Second Generation Partnership

The platform is championing the movement from Sharing Economy 1.0 to its second tier. GSENetwork just joined the line of other decentralized networks with peculiar interest in such partnerships.

Web 2.0 took content powers from platform owners and placed on the palms of users. GSENetwork is set to do same by evolving the entire economy.

Working Products

Block chain platforms are not automated. Their infrastructure such as consensus mechanisms is pivotal to that end. To this end, GSENetwork is backed by three infrastructures.

DService

DService implying decentralized service is a platform that will pilot GSENetwork. This combines with the Delegated Proof of Stake protocol to achieve its goal. It is worthy of note that DPoS is touted as the fastest consensus mechanism for chain platforms.

The duo will be effective towards integration of necessary services such as anti-fraud module. The DService platform also affords developers opportunity of creating DApps.

Incentive Model

Through green mining, GSENetwork rewards users for their activities on the platform. The core reason was to catch users’ fancy and make them feel at home. In another view, transactions lead to mining. GSENetwork’s green mining stipulates that tokens can be mined as transactions are carried out.

The platform does not relent on its goals. It places partnerships in top priority. Hence, users can invite friends into the platform. This makes the platform vibrant just as the token incentives will be deployed as rewards.

Trust Network

There’s efficient trust on this platform. The trust network takes account of each user’s transactions and uses same in creating trust profiles. Users can also use the platform’s token economics in scoring the platform high or low. Thus, if they find contents on the network of low standard, they can make their rating. GSENetwork aims using this approach in relinquishing content rights to its users. Users can then air their view and issue their ratings based on available content while receiving token incentives

Disclaimer

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers. You can order our professional work here.

We use cookies to offer you the best experience. By continuing, we’ll assume you agree with our Cookies policy.

Want to get a custom essay from scratch?

Do not miss your deadline waiting for inspiration!

Our writers will handle essay of any difficulty in no time.