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What is DREP Coin and how does it work?

by Financial Economy

DREP is a blockchain-based reputation system. DREP aims to address the issue of fake news, accounts, and content. DREP’s decentralized reputation algorithm will measure the reputation value of various elements of the online community. DREP will develop tokens of the reputation system with the help of reputation-backed currency and reputation-based assets. More information about what is DREP Coin and how does it work is in rest of the our article. Information about Ethereum, you can browse here.

What is DREP Coin and how does it work?

Drep is an Ethereum-based ERC20 token and is the platform’s native token. 3 billion DREP tokens, corresponding to 30% of the total token demand, have been offered for sale through the ICO. The DREP token is used to specify the user growth system, to reward users for positive and negative votes on content, and to execute transactions at low cost. With DREP, easy to use “connector” and “toolkits” based on blockchain are created.

Drep foundation implements decentralized reputation applications called DRAPps working in the Drep chain with the aim of promoting and developing an open, transparent and high quality Internet community. Stating that the current Internet platforms are full of information that has difficulty in creating high quality and reputable profiles, fake accounts and diminishing the reputation of users, the team aims to provide solutions to provide a better quality customer and community infrastructure to platforms serving in the field of e-commerce, social media and content.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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