So far, we've been discussing some interesting features of the xDAC platform. In this write-up, we'll be looking at yet another important aspect of this awesome project which is its PoW Performance Rating feature.
To begin with, what is PoW Performance Rating?
'PoW' stands for 'Proof of Work'. Therefore PoW Performance Rating means ‘Proof of Work Performance Rating'. At xDAC, this is a system for rating of team members based on their productivity level. Team members' rating are in turn used to measure the overall performance of each company on the platform. The higher the members rating, the higher the companies rating/ productivity - and vice versa. Ultimately, these rating of companies serve to inform investors on the effectiveness or otherwise of each company so they get to make their decisions accordingly. Also, they serve as guide to new members in search of good teams to join.
These said, let us see how the mechanism works beginning with the composition of a team...
xDAC teams consist of team members (employees, contractors, freelancers, autonomous agents, etc.) who come together to work towards a specified goal.
As a new user on the xDAC platform, you’d be required to create a team member account in order to be able to join a team. Upon choosing a team of your preference, you’d be assigned a supervisor then placed on the company’s hierarchy. Now your position in the company’s hierarchy invariably determines the privileges you enjoy in the company as each position comes with its benefits albeit, restrictions as set up by the company owners. Your supervisor/project manager will be responsible for specifying tasks for you and inspecting same afterwards to ensure it’s satisfactorily executed before your payment is processed. Now based on whether or not you accomplished your given tasks properly and promptly, you'd be automatically assigned some credit points which as it accumulates overtime, would determine your position in the company's hierarchy.
Remember each position in the company come with privileges attached to its functions. So logically, the hivher your ranking, the higher your privileges and functions/responsibilities. For easy management, the xDAC platform would make available a project management Dapp which would provide project managers with options to create and list tasks as well as assign same to team members. Each task to be executd by team members has their set prices in xDAC tokens.
As stated earlier, the ranking system on xDAC is automated and is based on prompt delivery of tasks and also on tracking work ethics. This rating thus indicates the productivity level of each member and can be used as indices in recommending team members to other teams or companies in the event of the members seeking to join other teams/companies. Naturally, employers would be on the look out for high performing candidates to fill in their companies not just for the obvious fact that high ranking members are very efficient at tasks delivery, but more so because of the fringe benefits such candidates/emplyees would bring to their companies. One of such is the profits generated by the xDAC platform itself. These profits from the platform would be regularly split between company owners and their team members both based on their overall rating level on the platform. The higher the rating of team members, the higher the ranting of the team or company within which they work since the memebers' status directly influence a comoany's overall rank. This profit sharing is a means to ensure that the platform retains most of the profits that accrue to it.
From every indication, these systems of ranking and profit sharing is sure to bring about healthy competitions among xDAC companies such as would boost general productivity in the ecosystem.
Let's conclude this with a note to prospective business owners on the platform: As a company owner on the xDAC platform, it is imperative to understand that full disclosure of your company information will give your company more credibility and therefore potentilally attract more investors to your company.
How? Simple!
By virtue of the nature of their accounts, investors would be able to view the lists of all xDAC companies on the platform including such information as their rating, employees, prices, market cap, and circulating supply of their tokens, etc. These sort of information go a long way in boosting investors' confidence and guides them in making their investment decisions.
For more information on the xDAC project, visit their website at: https://www.xdac.co/
And read their whitepaper here: https://www.xdac.co/docs/xDAC-Whitepaper.pdf
You might also want to join their telegram chat group to stay up to date with developments. Go here: https://t.me/xdacgroup
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