According to the company's announcement on July 11 the centralized structured data startup Dirt Protocol collected significant investments from large crypto entrepreneurs on the blockchain platform they planned to build for reliable data.
Pantera In addition to Capital and Barry Silbert's Digital Currency Group, Coinbase founder Fred Ehrsam joined.
Dirt, who will use 3 million dollars to build up the same name platform, will use some kind of token system to use the blockchain technology on the platform and to provide credibility.
According to the company, this will be a completely decentralized and unmanaged platform, similar to Wikipedia .
While the system is rewarding with credible token, the system will punish lies the same again. CEO Yin Wu, quoted by Venturebeat source expressed the following about the issue:
"We need something that can identify what is right and build confidence without the need for a central referee […] Dirt "
In the data validation process, the role of blockchain technology has been voiced largely due to its irreconcilable and decentralized features. DADI i drove its home network application market to increase the security of Internet sites, APIs and hosting services of applications
Source: Coin Telegraph