Ink Protocol is a decentralized reputation and payment protocol built on Ethereum that is looking to bring transferable reputation to P2P marketplaces. It is already live on the Listia platform with over 10M registered users, and we plan to expand to other P2P marketplaces where lack of reputation is a major driver for centralization.
Ink Protocol has been focused on the utility phase since the very beginning of the project and believe this phase will be even more exciting for blockchain adoption, cryptocurrency enthusiasts, and tokenized software platforms. At Ink Protocol, they are creating a globally trusted p2p marketplace transaction system, with transferable reputation.
Utility Tokens
Bitcoin is often referred to as a store of value, a decentralized savings account, or even digital gold. This means that simply owning bitcoin is enough for you to get real world utility and value out of the cryptocurrency. It doesn’t necessarily need any additional use cases in order to gain mainstream adoption and relevance. Due to the network effects of being the first and most widely known cryptocurrency, bitcoin will likely dominate this position for some time and therefore has a real use case just by existing. The same cannot be said about the thousands of other blockchain projects, cryptocurrencies, and tokens out there. Most of these will only stay relevant long term if they enable real utility for the people who use it. Perhaps the most popular cryptocurrency with an immediate real use case is Ethereum, which is a blockchain-based distributed computing platform for running smart contracts. It is essentially a decentralized server and database, and Ink Protocol is built on top of it. Ethereum is providing real utility for projects like ours, and we couldn’t easily do what we are doing now without a platform like Ethereum.
How Ink Protocol is Ushering in the Utility Phase
Ink Protocol is a fully decentralized reputation and peer-to-peer transaction system that you can use to safely buy and sell on any marketplace platform. We launched the project by integrating it into the Listia marketplace, which has over 10M registered users who have bought and sold 100M items since 2009. Over a million items have already been listed on Listia using XNK, and that number is growing daily. Even though the Ink Pay app is coming soon, this is still only the beginning. The world is just starting to realize the potential of blockchain technology, and once it does.. we will be poised to achieve our mission of building a globally trusted p2p transaction system for any marketplace. You will no longer be subject to the high fees, strict rules, and siloed personal data of today’s marketplaces. Transactions will be free or extremely low fee, and you will be able to use your own data as you please.
Disclaimer : Most of the information contained in this post was gotten from various ink Protocol documents including ink Protocol whitepaper and social media handles! It should not be considered as financial advise.
Ink Pay
The Ink Pay beta is officially here! The team has been working hard to create an easy-to-use interface for Ink Protocol. The beta is now out and available for anyone to use. It makes it much easier to interact with Ink Protocol outside of Listia. We made the very first Ink Pay app purchase from Empire Estates Toys.
XNK Adoption
The most important thing for Ink Protocol is continued growth in real world adoption. We are very fortunate to have a large, functioning marketplace with Ink Protocol integrated from the very beginning to kick start things. While summer is usually a slow period on Listia, with fewer listings and transactions than the rest of the year, this summer has been very different. Usage continues to grow week over week and we are fast approaching 3M XNK listings!
Big Community Update: Ink Pay, Partnerships, XNK Adoption, and Self Sovereign Reputation
Join for a Community Update, Ink Pay App Demo, and AMA Live Stream