Galleon - A Decentralized Review Platform

Nowadays we have huge amount information on the Internet such as blog, news, Q&A website, SNS and so on. But do you think that information is really accurate? We know many cases that information was fraud or mistake.

Galleon, a decentralized review platform, aims to increase accuracy of the information on the Internet powered by blockchain technology and token incentive mechanism. The idea is very simple. You can get Galleon token when you post issue and reviewers judge that as being accurate. Then, we get fact, accuracy-secured information, as a result of the review. Doing review is not easy work and there is no doubt that accuracy is value. A financial value of the token comes from this added value. So, Galleon token works as monetary incentive.

Galleon can make some of information on the Internet more accurate. This opens new era of information sharing on the Internet.

You can enjoy our official website here: https://galleon.network/

Introduction

Background

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Goals

Galleon provides a community based venue for proposing and discussing new decentralized review platform features. Each proposal will be discussed in its own repository within the GitHub account. Membership of the group is open to everybody.

Scope of Work

The Community Group will accept and discuss any proposal for a decentralized review platform feature that would be used from a browser or similar user agent. The Community Group will also develop and maintain SmartContracts and SDK for 3rd party developers.

Galleon

Philosophy

Public, permissionless blockchains are dependent for their security and reliability on their mechanism design. We believe Cryptoeconomics technology can make the world fair place.

On the Internet, we cannot confirm the reliability of almost all information. We think that there are many areas where needs accurate information on the Internet. The decentralized review process could be one of the ways to assure reliability. People have contributed for free so far on the Internet, but people should be able to receive rewards for intellectual contribution on the future.

We believe a mechanism design approach can achieve this as sustainable platform while producing value of trust continuously.

Galleon Platform

Galleon Platform is built as SmartContracts on the public blockchain Ethereum and provides SDK for 3rd party developers. By using the SDK, Developer can easily connect their site with our SmartContracts.

At a high-level, the operations provided by the Kernel Contracts are:

• A consensus algorithm for finalize review process.

• A mechanism for evaluating player's contribution score. The platform can secure the accuracy of any kinds of information by putting review scores based on byzantine fault tolerant review mechanism which is explained in following section, and that is most innovative point of Galleon.

• A mechanism for reputation score. Creators who continuously generate correct contents and reviewers who repeatedly do correct review can get high incentives. The others cannot get such high incentives. By this design will be able to refresh by itself and only correct contents are remained on this platform because only good creators and reviewers will be there. This contributes reducing attacks and sustainability.

• A mechanism for matching issue and reviewer.

• A mechanism for minting token.

• A method for assuring tamper proof and traceability of information.

• A method for transferring rewards.

Galleon Token

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Mechanism Design

Objective

Each player intellectually contributes to maximizing their gain.

Action Round Design

A user who creates convincing and valuable contents can keep to get rewards, and a user who does not do cannot get any rewards. Our big purpose is making world fair place.

• One round consists of any number of blocks. Every round, a content contract evaluates contribution degree of all of actions in the round.
• Every round, a Galleon token contract mints new tokens for overall platform.
• A question user who want to get answer quickly can pay higher commission fee. It is domination strategy for respondents to answer the question with higher commission fee with priority for maximize their profit.

Player Role Design

• Creator
  • Everyone can join
• Reviewer
  • Everyone can join
• Voter
  • Hard to join
  • Good or Bad
  • Need to stake 100 tokens
  • Evaluation is weighted by the amount of staking and token holding period
  • Rewards are distributed depends on the amount of staking

Contents Finality Design

• In a contract, a content can be have 1 or more reviews and votes.
• A contract has responsible for deciding a set of content and review.
• The set which has more number of votes in the same round is chosen when conflict occurs.
• After the set is confirmed, this content can be re-opened by voting.

Penalty

• A staking will be confiscated in the case that community manually recognizes fraudulence of voters.

Contents Life Cycles Design

OPEN -> ROUND 1 -> ROUND 2 ... ROUND n
                                ↓   
                             CONFIRMED ... ROUND n+j
                                            ↓reopen
                                           OPEN -> …

• An answer is regarded as confirmed if it meets conditions.
  • IF content.has_review and review.has_vote and not contract.has_conflict:
status = CONFIRMED
    If there is a conflict within the same ROUND, there is one set with the largest number of votes
• Generating URL that is available on the Internet to refer confirmed answer.
• After the set is confirmed, this content can be re-opened by voting.
  • Republish new URL when the answer is confirmed again. Old URL still refers to previous answer as well as new URL and notification of update.

Calculate Contribution Design(Draft)

• Creator
  • [+5] Get Review
  • [+2] Get Good vote
  • [-5] Get Bad vote
  • [+5] Get the status CONFIRMED
• Reviewer
  • [+2] Post a review
  • [+5] Get the status CONFIRMED
  • [-5] Get Bad vote
• Voter
  • [+3] Get the status CONFIRMED

Reputation Design

• Each player has reputation score.
• This score will be used to calculate reward with the contribution score.
• This score is not reset for each round.
• This score aims to give the characteristics of repeated game to this platform.
• The detailed design is yet to be determined.

Applications

Platform supports very primitive review, contents finality and calculate contribution protocol. Various applications can freely use the content body. Applications can be made freely by everyone. We think this platform is effective for applications that have following properties:

• The reliability of information is important.
• Auditing is important.
  • This platform eliminate the intermediate cost of audit.

We think following kind of applications should use our platform to get self-sustainability and quality:

• Q&A
• Academic papers
• Wikipedia
• Tax audit
• Social insurance system
• etc…

Who choses Galleon Platform?

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How to integrate with Galleon Platform?

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Miscellaneous And Concerns

Challenges that need to be overcome

Actually the above mechanism design is just a idea, not confirmed yet that it works as we expected. It is a state-of-the-art field to apply mechanism design with game theory and behavioral economics to cryptoeconomics. That why we need abundant knowledge of both economics and blockchain technology. For the decisions of parameters below, for example, we need more and more knowledge of both economics and blockchain for sustainable platform.

• An algorithm of currency minting.
• Percentage of the number of newly issued currencies to be distributed as reward.
• The threshold value that reward does not impede the motivation of users for social contribution.
• What kind of mechanism should be integrated to make all participant continue to take sincere behavior.
• What kind of penalty needs.
• Params of calculating contribution score.

In addition we need some advice from experts if our mechanism design does not work well.

Known issues to be overcome in development

As mentioned above, because we are going to create new economy, we need knowledge or talent about economics. We, proposing creators, study following three materials and are currently planning to ask experts for cooperating with us: 1) Pure economics which define environment, 2) Behavioral economics which explorer the realistic origin of decision making and motivation of humans, and 3) Game theory which consider mechanism design of incentive.

Conclusion

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Glossary

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