Origin (ORIGIN) ICO Review – ICO Token News

Origin Protocol is a set of protocols that enable buyers and sellers of fractional use goods and services to transact on the distributed, open web. The businesses and developers can build decentralized and blockchain based marketplaces on the platform, with a focus on a sharing economy. It allows for the decentralization of the community and platform with the use of Interplanetary File System (IPFS) and Ethereum blockchain ( similar to Viso Global, Coinfi, Xmoneta, LiveTree, Play2Live ). The decentralization allows for the creation and booking of goods and services without involving the traditional intermediaries. The platform is built on top of many open source libraries, distributed systems, and protocols.

Project analysis

The initial approach of the developers is to average out the exchange rate over different markets and time. Prior to the launch of the Origin Protocol network, the developers plan to integrate the stable coins that attempt to remove the volatility of the cryptocurrencies. Quite unlike the asset-backed cryptocurrencies like Tether, new projects are attempting to implement programmatic central banks to manage both the deflation and inflation of the currency.

Problem it Solves

Identity is the core component of the platform, which is opt-in. Buyers and sellers can transact pseudonymously as long as they consent to it. They are free to choose the identity and identity provider for the purpose of acceptance. The platform will verify the identity in two ways:

1. Firstly, it will encourage the users to identify themselves using publicly auditable proofs. Users can post their public keys on Facebook, Twitter etc. and then cryptographically sign their listing using private keys. Users can then use links in their listings to Facebook post, tweet, etc. This way, anyone can verify the identity of the poster.
2. Secondly, the platform will allow users to collect verifications from the trusted third-parties. These third-party providers help in identity verification through the interfaces with the offline world. For example, to verify the identity of the user, it may send a postcard with a code to the user’s address and then ask them to enter the code on a website.

Benefits for Investors

1. Fraud and spam prevention: Central moderators in the traditional marketplaces have to maintain large fraud and spam prevention teams to prevent the overrunning of the networks by fraudulent listings. The Origin platform effectively removes the need for a trusted middleman and so deters undesired behavior with economic The platform will have a Deposit-Challenge-Vote mechanism to ensure the cleanliness and integrity of the data. For this, the user will have to deposit ORIGIN tokens when creating a listing or filing a complaint.
2. Platform security and incentives: Origin will have an appropriate mechanism to self-regulate the community. The token will be instrumental in maintaining the security of the platform and create disincentives for fraudulent listings, transactions and accounts. The platform will have a better-than-free model for buyer and seller transactions. For more information, you can refer ICO stats. It encourages a vibrant developer community to earn ORIGIN tokens through multiple business models or grants.

ORIGIN Token

Origin tokens (ORIGIN) will be introduced to create crypto economic incentives for the investors. The ERC20 token will leverage the full advantage of Ethereum network’s developer tools and built-in wallets.

The token serves the below three purposes on the platform:

• Ensures platform security and health.
• Enables network governance.
• Facilitates buyer/seller transactions.

Summary

Thanks to the emergence of the Ethereum platform  (similar to  Celsius, BunnyToken, Altair, Lendo, ABYSS) and IPFS (A peer-to-peer hypermedia protocol to make the web faster, safer, and more open), it is now possible to have decentralized commerce in the sharing economy. Origin offers open-source protocols and standards that allow buyers and sellers to connect with each other without the involvement of rent-seeking middleman.

The ORIGIN token is a utility token that will create positive and negative incentives to ensure the security, engagement, data validity and growth of the platform. It allows the community to participate in the governance of the network with the use of the ORIGIN ICO token. The platform is focused on bringing change and innovation to the sharing economy.

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