Crypt-On is a p2p lending and multi-services startup with unique innovations. It Plans to be the biggest and most impactful of it kind in cryptocurrency business. What i found particularly interesting about Crypt-On is the use of a kind
Reputation system called Trust Token to bring trust and transparency on its platform.
The importance of trust in cryptocurrency world has become increasingly apparent due to anonymous nature of public blockchain. With Trust token Crypt-On will definitely be the safer and better than other Peer-to-Peer cryptocurrency lending platforms.
How Trust Token Works On Crypt-On
Trust contains the history of users permanently recorded onits public blockchain, making the record immutable and transparent. The idea is that borrowers trust rating are upgraded when they keep to the loan terms and condition or they get downgraded if the Term is violated. For example if a borrower takes a loan that expires in two week and is able to return the loan on or before the end of the two weeks his trust rating is upgraded but if he defaults on the loan or fails to return it at the expiration of the week he get downgraded. This important feature will help keep the platform risk free, encourage safe lending , increase trust and bring more lenders.
Aside from reputation system, Crypt-On also implemented an insurance scheme to help mitigate loses for users. such insurance is paid with the platform native token. Also available on Crypt-On is a stable-coin which is intended to keep the platform market relatively stable.
More Information on Crypt-On , Visit:
Website: https://crypt-on.io/
Annoucment Thread: https://bitcointalk.org/index.php?topic=3530713
Author: Dexycoin - Bitcointalk profile
https://bitcointalk.org/index.php?action=profile;u=963906