EQ8 (pronounced ‘Equate’), is a dApp that rewards its users for their time, knowledge and attention, has been successfully launched on the Polygon network. User participation in campaigns (Surveys, Polls etc.) leads to creation of an NFT based crowdsourced data repository that is immutable and verifiable.
By definition, a Dataverse lets you store and manage data that’s used by business applications. However, centralized/web2.0 Dataverse has been plagued by the challenges of data manipulation/fabrication and surveillance. This results in expensive & unverifiable data for the businesses, and exploitation of the user data.
EQ8 addresses this challenge by implementing Blockchain, SmartContracts and IPFS in a way that offers decentralization, immutability, ownership and sovereignty over self-identity and data. Removal of intermediaries’ results in much better monetization of data for users (data providers) It has been implemented on the Polygon blockchain to tap into Ethereum’s top-notch security while ensuring scalability and low gas costs.
EQ8 Dataverse comprises of a web as well as mobile-based application and its users fall into three main categories – data requestors, data providers and content creators.
Using the web app Data requestors would be able to (a) either run targeted campaigns such as Marketing/Ad Campaigns, Surveys, Polls, Reviews & Ratings, Petitions, etc, and competitions such as Quiz, Voting Contests, Prediction Markets, Fantasy Sports, etc or (b) buy data/reports NFTs (without personal identifiers) already available in the Dataverse.
On the other hand, Data providers and content creators would be able to earn Rewards in crypto assets via different earning models such as “Create to earn”, “Participate to earn”, “Learn to earn”, “Play to Earn” and “Govern to earn” etc. Furthermore, a data set is created from every completed campaign/survey, which is then given the shape of an NFT, co-owned by the participants and EQ8 DAO.
EQ8 positions itself as the first-ever Web3.0 Dataverse of the world. Polygon integration will enable EQ8 Dataverse to facilitate quick execution of transactions, at extremely low costs. The network boasts of an extremely high processing power, capable of executing 65,000 transactions per second and a block creation time of less than 2 seconds. Therefore, it can easily cope up with high network usage, while delivering almost instant confirmations.
All these pros will help the EQ8 in delivering an amazing user experience, something that’s crucial in ensuring its consistent growth and widespread adoption going forward.
Having reached a new adoption milestone of over 7000 decentralized applications deployed on its network, Polygon network has emerged as one of the most sought-after platforms for the dApps ecosystem today. A great multitude of leading dApps including in the DeFi, NFT, DAO, Games, B2B and Wallet categories, are implementing on the Polygon blockchain, to make the most of its full-stack scalability, high throughput, optimum security and low fees.
With several top-tier DeFi and NFT projects like OpenSea, SushiSwap, Aave, Aavegotchi, Curve Finance already deployed on Polygon, it opens up the possibility of integrating with them, and thus offering additional value to EQ8 users in the future.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
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Source : cryptodaily.io
