CheckDot has announced the launch of its platfrom which will save the crypto industry. CheckDot is a platform where a large number of projects are listed and rated according to criteria such as age, social network verification, code quality, ease of finding information, transaction fees and many other features. Many services are publicly available right now, including the ability to request advice or perform audits on specific projects. Other services are under development, covering the entire blockchain sector.
In the speculative and disorderly world of crypto, one thing is for certain: there are lots of new projects. The crypto-currency industry will continue to grow at a rapid pace. There is no shortage of projects in the crypto-currency industry that make outlandish claims about how their project will go “to the moon”.
It can be tricky trying to decide which projects are worth investing in. To make this choice, many crypto-currency enthusiasts turn to social media or the online community for opinions on various projects. Others choose to painstakingly read project white papers. Anyone with a basic understanding of blockchain technology and code can develop their own cryptocurrency. Not everyone who creates a new coin or token is doing it in good faith. Some developers create projects to steal the investor’s money.
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The overall problem in crypto is that no one is evaluating the validity and legitimacy of these new projects. However, a solution to this problem has emerged with CheckDot. CheckDot is a blockchain technology company that launched the first ever decentralized trust protocol in November 2021.
How CheckDot works
CheckDot performs the very important function of determining the value and legitimacy of cryptographic projects for the community. This includes smart contracts, NFTs, projects, etc. This is done anonymously to protect the privacy of users while providing access to information about certain projects.
CheckDot’s mission is to help projects and companies improve trust by allowing people to anonymously validate and verify their value. Built on the Binance Smart Chain Network, CheckDot also acts as an opinion platform and collects information from several individuals on the blockchain. It then calculates and publishes this information on the official CheckDot website (www.checkdot.io). Crypto investors can see the objective evaluation and opinions about a project easily which makes doing your own research (DYOR) much quicker.
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The bursting of the ICO bubble around 2018 and the many pump-and-dump projects that came and went eroded public confidence and led to a trust deficit in the market. With CheckDot, this lack of trust can be corrected.
Anyone wanting to participate in the CheckDot verification process will get rewarded and paid in CDT. CheckDot has compiled a list of many different blockchain activities: smart contract audits, KYC audits, NFT trust indexes, rare objects, anonymous forms, e-commerce pre-audit notifications, business audits, e-document audits and service trust analysis. Anyone who engages in any of these activities will receive a reward in the form of CDT tokens, CheckDot’s own native token. Users are expected to hold a certain amount of CheckDot tokens and will receive more upon completion of these activities. Investors and individuals looking to participate in the verification process can purchase CDT on centralized and decentralized exchanges.
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