Sockrates
Decentralized Ratings for the Internet
About
The problem it solves Sock Rates - Decentralized Ratings for the Internet Online ratings are broken right now because of 2 primary reasons: 1. Manipulation By Platforms Platforms “own” the ratings Governed by Black Box algorithms Can manipulate for Corporate interests 2. “Bad” Ratings at source Fanboy reviews Review bombings Fake ratings from Bots We solve this by a blockchain powered ratings platform with incentives for raters Decentralized, Transparent and Immutable, Blockchain solves for Manipulation Raters are incentivized through a fraction of the Staking Pool which tries to “predict” epoch ratings - bringing in more raters and wider representation The process - There are 3 stages involved. During the Voting & Staking Phase, Voters participate in Blind Polls to indicate their opinion while Stakers stake around their expectation of the poll results. During the Reveal Phase, votes are consolidated and accumulated with the content ratings from previous epochs. FInally, Voter and Staker rewards are distributed in the Reward Phase. Stakers win by accurate predictions, and Voters get a fraction of the Staking Pool for their activity. We currently solve for Entertainment and Content Ratings in our MVP, but the ratings can be extended to a variety of usecases subsequently - Products, Online Businesses, Local Stores, Games, Travel and Tourism
How it's made
Challenges we ran into New to the Flow Chain, there was an initial learning curve getting hands on building on Cadence. The official documentation was the most help here, the demo videos can be increased covering a bigger project as a usecase. Debugging while connecting my frontend to the smart contracts was also a challenge. Evenutally I figured it is easiest to just copy the contract in the Flow Playground and write transctions and scripts in the playground itself, copy pasting the final code to my repo. Would be generally helpful if the debugging process on the emulator is more user friendly.