Indorse is a decentralized professionally managed network powered by Ethereum. Indorse is different from conventional cryptocurrency platforms as it is designed to handover the ownership of the data back to the user so that they can profit by using their skills and sharing their activities on the Indorse platform. The network makes use of an internal reward system to encourage people to display their skills and achievements and also indorse those of others. The main sources of revenue for the platform are human resource services and provision of advertising services.
The Indorse platform does not limit their platform for the display of any specific skillsets. The initial release of the system may include a few skillsets which can be put up for endorsement. More skillsets will be added subsequently and on an ongoing basis. Information about the updated skillsets will be displayed on the cryptocurrency website. Information will also be shared with the members.
The claims of skills and achievements of members will be verified before they are displayed on the Indorse platform. Members who claim to possess a set of skills are required to share a link to support their claim or share documents, videos or other such materials that will ensure that their claims are genuine. Indorsers are also expected to review the materials offered as proof supporting the claim of skills possessed.
The platform is free for use now but the future costs will also be kept low and affordable. The platform intends to make use of payment channels and similar technologies to keep costs low. Rewards for skills are offered in the form of IND tokens at the end of a fixed period. These tokens can be traded on a notified exchange.
Indorse SCR is a system on the digital currency platform that is an indicator of the level of skill of a user and the reputation earned on account of that skills or activities. It works on a line similar to that of the PoS or Proof of Stake model. An SCR is put at stake by every user wanting to have a review. Actions that are done for the benefit of the community will earn them an SCR token. It also acts in the reverse way as tokens can be taken away from users not acting in the interest of the community.
The total supply of IND tokens stands at 170,622,047 of which 46,508,192 are in circulation. The market cap of the currency is $5,140,643. It is now trading at $0.110532.
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