The Mindplex Reputation System
Reputation on Mindplex is not an abstract or fleeting notion; rather, it is a clearly defined indicator of merit, quality, and credibility. Both content and users on Mindplex have separate reputation scores.
A Mindplex user's reputation score is measured and calculated based on their interactions. For instance, reading an article or listening to a podcast yields a positive reputation score. Similarly, commenting on or liking an article rewards both the reader and the writer with a positive reputation score. However, if you comment or like an article before finishing it, our reputation system will not reward you or only award you half of the reputation score. Likewise, if you like an article or post simply because it was published by your friend, the system will check for bias indicators and deduct reputation points if it confirms bias.
Interactions are categorized as bad, average, good, or excellent, leading to varying positive or negative reputation scores. The Mindplex reputation system calculates biases, specifically confirmation biases and association biases. Additionally, it addresses the ontological problem by identifying a user's reputation by category. Having a good reputation in Mathematics doesn't automatically mean your opinion on Politics is excellent. Similarly, every content piece has its own reputation score.
Within this system, a breakdown of the reputation score is presented aiming this data helps users distinguish what to trust and what to doubt. Our ultimate goal is to foster a community that has access to accurate information about merit, quality, and credibility related insights. We are building a rational society capable of making informed decisions independently.
The intricacies of the reputation system go much deeper, but for now, we will conclude with our motto:
You can't buy, you can't inherit, or borrow reputation; you can only earn it!
The blockchain component of our reputation system is currently operational, and we are proud to introduce the MPXR (Mindplex Reputation Token), illiquid soul-bound like unique digital asset designed to enhance trust and credibility within our ecosystem.
MPXR tokens are non-transferable ERC20 tokens. While the standard ERC20 protocol does not inherently support non-transferability, we have developed an MPXR Escrow system to implement this functionality effectively. This escrow holds all MPXR tokens as assets on behalf of our users. MPXR tokens, as ERC20 tokens, are exclusively minted for an Administrator, which in this case is the Mindplex Reputation Engine. The quantity of tokens to be minted is determined by the total monthly reputation score generated by users within the Mindplex ecosystem. Subsequently, the Mindplex Reputation Engine transfers these newly minted tokens to the MPXR Escrow contract, where individual user accounts are maintained on-chain.
Whenever users earn a positive reputation score, they are rewarded with MPXR tokens, which are credited to their holding accounts through the MPXR Escrow. In essence, MPXR tokens are transferred from the Administrator Account (Mindplex Reputation Engine) to users as a reputation reward. In the event of misconduct or negative reputation scores, MPXR tokens are deducted from the respective user holding accounts, first from the Mindplex Reputation Engine and then reflected in the specific user's account. This process ensures that MPXR tokens remain non-transferable, and the issuance and updating of MPXR token balances occur within the escrow contract, providing users with confidence that their MPXR tokens are securely held by the MPXR token Escrow contract.
We are also actively working on developing similar smart contracts on the Cardano network to expand the reach and utility of MPXR tokens.
What's even more exciting is that the Mindplex Reputation system is open for adoption by any online platform. We are currently in the process of enabling access to our reputation system via API calls, and this functionality is expected to be fully available in the first quarter of 2024.
In summary, the introduction of MPXR tokens and the non-transferable reputation system on the blockchain marks a significant milestone for Mindplex. Our commitment to transparency, credibility, and security is unwavering, and we look forward to empowering online platforms with our reputation system in the near future.
Stay tuned, and thank you for your continued support.