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Flare and Bloxico Partner to Introduce Reputation Score
Flare, a layer 1 blockchain for data, has announced a strategic partnership with Bloxico, a full-on blockchain consultancy and development firm. This partnership aims to bring community trust metrics within the Flare network through the introduction of a “Reputation Score” based on various factors. The score will include both on-chain metrics and off-chain metrics such as a community rating system to determine a participant’s final score.
According to the team, Bloxico will develop a new platform that calculates the Flare Reputation Score using both objective on-chain data and subjective community-based measures to determine the final score of a Flare network participant. This scoring system gives the Flare community the power to assess and rate each other based on participation, network contribution, and general behavior on the network.
Furthermore, the Reputation Score aims to enhance the overall utility of the Flare blockchain. The platform includes decentralized oracles built into the structure of the network and an EVM smart contract that is optimized for decentralized data acquisition, including price & time series data, blockchain event & state data, and web2 API data. The Flare Reputation Score allows new users to easily spot the best oracles, network participants, and apps on Flare.
“Reputation Score will help shortcut that process, clearly highlighting infrastructure providers that are trusted by the wider community,” explained Hugo Philion, CEO and co-founder of Flare.
Bloxico Adds Features to Flare Reputation Score
Bloxico, known for offering Web 3-focused services including software development, IT outsourcing, and blockchain consultancy, has risen its ranks in the past few years. The firm has provided cutting-edge solutions and exceptional customer service. Now, with the Flare Reputation Score, Bloxico aims to reduce the barrier to entry for new participants learning about the Flare ecosystem. The score also combines on-chain and off-chain metrics to give the final score on infrastructure providers that users aim to engage with.
Moreover, the Flare Reputation Score will enable users to pick their Flare Time Series Oracle (FTSO) data provider or delegate their FLR tokens to a specific network validator based on community-assisted data provided by the Flare Reputation Score.
“[Flare’s] Reputation Score increases the incentive for deeper network involvement and contribution by these providers, therefore supporting the health and safety of the wider ecosystem,” explained Nenad Tanaskovic, CEO of Bloxico.
In the near future, the score will also be added to applications, platforms, and other key network participants such as FAssets agents and LayerCake bandwidth providers, providing total transparency on the network and a convenient way for users to select between different apps and Flare participants once a new system is launched on Flare’s mainnet.
### News source: cryptodaily.co.uk