Company Name: Ethearnal Limited
Address: Unit 1109, 11F, Kowloon Centre, 33 Ashley Rd, TsimShaTsui, Kowloon, Hong Kong
Email: support@ethearnal.com
Phone: +371-666-31773
Introduction
Ethearnal is a peer-to-peer freelance platform. It provides an ecosystem where both freelancers and employers can enter into a trustless smart contract. It includes a reputation system and an escrow service to protect the interests of all the parties involved. The freelance platform also takes full advantage of decentralized system of moderators when required.
Ethearnal’s concept revolves around tokenizing the reputation to create an economic initiative, which in turn imparts value to the platform’s tokens. This allows all the parties in the system, moderators included, to have a strong and aligned incentive to operate on the platform honestly, since everyone has something of value at stake just as much as they have something of equal or more value to gain once the desired outcome is achieved.
Industry trendsetter
Freelancers can create a listing, presenting their services and push them on the network using a web client. On the backend, the platform uses IPFS (Interplanetary File System) to keep and distribute their listings on a peer-to-peer basis without the need for any centralized servers. The freelancers don’t have to keep their web client online; the offer just lives in the cloud. Employers can search all of the listings from the same web client, or publish their own offers searchable by the freelancer. Once they both find each other, they can enter into a smart contract.
Payout
The participants will both invest valuable recourses, mainly time and money, to gain reputation, so it is valuable to them, and thus, they have the initiative to keep it up. Even if they don’t appreciate their time, the reputation token has a monetary value on the free market. The creator of a listing has control over how much reputation stake a freelancer requires to enter into a smart contract with the gig creator. So, he has the freedom to decide based on the overall contract value and his personal risk assessment.
Possible outcomes
There are three possible outcomes of these smart contacts. One, parties are happy, and they execute the contract on their own without any 3rd party intervention, and reputation tokens are awarded proportionately. Two, at least one of the parties is happy, a pool of moderators steps in and decides in favor of one of the sides based on simple majority vote. Three, all parties are unhappy and are no longer willing to work together, the contracted self-closes after a preset amount of time and returns everything in escrow and at stake.
Moderator’s rewards
A moderator on the Ethearnal system can more than double their staked rep tokens every time they participate in a winning decision. Since every side has the same amount of tokens at stake and they get proportionately the tokens of the losing side. However, since this is distributed only among the moderators who voted with the majority, the moderator’s percentage actually increases. Moderator can be anyone who holds enough ERT tokens to cover the stake minimum.
Token Details
The total token supply depends only on how much ether has been invested during the pre-sale and sale. New tokens will not be generated ever again. 1000ERT will be sold at the price of 1ETH. The hard cap for the sale is set at 30,000 ETH, with maximum total token supply fixed at 40,000,000 ERT. The platform, for the sake of transparency and accountability towards the contributors, has adopted the DAICO (ICO 2.0) model of token sale. As per the model, only 10% of the funds will remain in control of the team while 51% of the votes are needed to release a funding round.
Conclusion
Ethearnal once fully operational would turn out to be a recommended platform for future and current freelancers. The decentralized nature of the system backed by smart contracts creates a cloud of equality within the ecosystem that ensures all freelancers from all walks of life, get jobs provided their reputation is one that is sought after.
The Ethearnal platform can be accessed at – https://ethearnal.com
Interact with the Ethearnal Community on Telegram at – https://t.me/ethearnal