Drep price is $0.48726000
As of the time of writing, the price of Drep OLD stands at $ 0.48726000, with a -6.95% change in the last 24 hours.
Drep OLD is a cryptocurrency that powers the Decentralized Reputation System (DREP). This system is designed to transform the way internet platforms manage their reputation value. DREP aims to provide a blockchain infrastructure and a decentralized reputation protocol, which allows existing Internet platforms to tap into their reputation value and establish a network for the flow of reputation data within the Internet community.
The key goals of DREP include: - Facilitating internet platforms in accelerating user growth and monetising their traffic - Tackling issues such as the identification and filtering of fake news, content, and accounts - Enhancing its tokenomics based on reputation-backed assets and reputation-backed currency - Setting up a targeted user acquisition by creating a pool for token holders.
The information about the specific developers or the team behind Drep OLD is not explicitly stated in the data provided. However, the DREP Foundation is responsible for providing the blockchain infrastructure and the decentralized reputation protocol for the project.
DREP works by leveraging blockchain technology to create a decentralized reputation evaluation and reward system. This system transforms a user's reputation or credibility on an Internet platform into quantifiable digital assets that can be managed and traded.
In this way, DREP hopes to address challenges faced by many online platforms today, such as the proliferation of fake news and accounts, by introducing a new disincentive structure. The reputation-backed assets system discourages malicious behaviour on the platform and incentivises actors to maintain a good reputation.
The unique aspect of DREP lies in its application of blockchain technology to the management of reputation data. Traditional reputation systems on conventional internet platforms can be easily manipulated, providing little incentive for users to behave honestly. DREP's decentralized system ensures the authenticity and integrity of reputation data and disincentivizes malicious activities through its reputation-backed assets.
As of now, Drep OLD holds a market cap of $ , ranking it as the #1 in terms of overall market capitalization. The circulating supply is , while the total supply is at 100.0M.
Currently, Drep OLD is available for purchase on the following exchanges: Gate.io, Hotbit, Binance.
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