INTRODUCTION
The Listia is being recognized for the wide range of experience, for the past 8 years the Listia community have been expectionally wonderful in the service it render to its users. With this, the Listia community have introduced a new decentralized crytocurrency peer to peer platform called the INK PROTOCOL .
WHAT IS INK PROTOCOL?
Ink Protocol is developed by Listia, a P2P marketplace for buying and selling used goods online. A new decentralized reputation and payment system called Ink Protocol is powered by the Ethereum blockchain. XNK, is an ERC20 compatible token, and will be traded on exchanges. Ink helps users safely send and receive payments in P2P marketplaces while earning public reputation for every completed transaction. It greatly enhances the probability for anyone that is buying/
selling on exchanges to get rich very fast
in this cryptocurrency space. The ratings, decentralized escrow for secure payments, third party dispute resolution, and very low transaction costs are truly the innovation that already shapes the world for a new and
free economy.
PROBLEM INK PROTOCOL TENDS TO SOLVE
Current P2P marketplaces have the following problems associated with them.
• Goods are hard to value.
• High transaction fees (a large portion
towards the platform’s profit however a
large fee due to monetary transactions).
• Lack of trust between sellers and buyers; a buyer is always taking a gamble that the seller is honest.
SOLUTIONS OFFERED BY INK PROTOCOL
Ink will natively solve some of the most
common and difficult issues with
transacting on a pure P2P marketplace. With these features, Ink has a big advantage over not only Listia Credits, but also traditional forms of payment:
• Decentralized Reputation and Feedback
• Decentralized Escrow
• Third Party Dispute Resolution
• Very Low Transaction Costs
ADVANTAGES OF INK PROTOCOL OVER OTHER PLATFORM
Just like every other technology, a machine is not 100% efficient and the Listia marketplace was not build to be 100% decentralized, this brings about the advantages the ink protocol platform have over other marketplaces.
- The reputation of the third party provide an extra security for users.
- It has a very low cost of transaction, saves time and energy.
- It has a feedback reputation for integration of the community members and decentralized reputation.
Token Distribution
Distribution / Network Incentives – 32%
Retained by Listia – 32%
Token sale – 30%
Existing Listia Credits – 6%
Ink has successfully completed their ICO and hardcap was reached in a split second
CONCLUSION
In closing I think this is a really strong ICO. It has a pretty low cap at 15 million, a platform that has been around for 9+ years, and it's easily integrated into any other P2P system making the whole token even more
valuable. The token economics are a little lacking IMO but not to a large degree.
You can find out more about Ink Protocol with the links below:
Website: https://paywithink.com
Blog: https://medium.com/@PayWithInk
Telegram: https://t.me/paywithink
Twitter: https://twitter.com/PayWithInk
Whitepaper: https://paywithink.com/#documents