The Problem of Anonymity and Lack of Trust in Web3

In the world of Web3, where blockchain transactions happen anonymously, trust is a big issue. On one hand, anonymity keeps your information safe, but on the other hand, it lets bad people take advantage of others. Since everything happens behind a screen, reputations can be destroyed in seconds. Bad actors hide in the shadows, tricking people and abusing their trust.

This begs the question: “Who can we trust to continue building, investing, or promoting in Web3 space?”

The problem is that there is no existing trust score can solve this yet, due to 5 basic limitations:

Centralized / Opaque algos: most trust scores are calculated off-chain based on black-box algorithms that no one can verify or assess.

Not real time: once reputable ones are not always reputable; there’s no mechanism to submit on-chain data based on real-life knowledge; trust scores based on past on-chain data alone can lead to reputation abuse or, worse, exit scams.

Unsecured trust: trust scores based on only data are not secured; nothing happens if they are proven wrong.

No consequences to bad actors: no mechanism to hold bad actors accountable; on-chain detectives keep exposing wrongdoings in exchange for no justice, and more harassment.

Lack of incentives to validate trust: no current incentive system to motivate people to quantify trust and penalize them when they are wrong.

To address these problems, we need to come up with better ways to measure trust in Web3. We need systems that are fair, up-to-date, secure, and that punish bad people while rewarding honesty. Only then can we trust the digital world to be a safe and fair place for everyone.

With the growing adoption of on-chain solutions, decentralized identity and reputation systems are increasingly important in establishing trust. Trustworthy measures of reliability are crucial. That's where Goat.Tech plays a role.

Goat.Tech: A Solution to Trust issues in Web3

At Goat.Tech, we're facilitating a future where your reputation is key to success in the blockchain world. Imagine a scenario where financial stability and trustworthiness lead to prosperity within the blockchain ecosystem. Goat.Tech introduces the first gamified on-chain reputation with native yield, innovating a novel concept called "On-chain Reputation - Trust Score”. Trust Score serves as a real-time standard reflecting an individual's current financial stability and potential value generation.

Goat.Tech: Validating Trust through Trust Score and ETH Staking

At Goat.Tech, Trust Score is not just a feature; it is central to everything we do. Unlike standard metrics, our Trust Score is a dynamic measure that reflects an individual's current financial stability and their potential to add value to the blockchain ecosystem. Its uniqueness lies in its responsiveness to users' transactional behavior and its appealing incentive system. This encourages a beneficial cycle of trust and credibility, incentivizing users to behave trustworthily and thus contributing to the overall health and integrity of the blockchain ecosystem.

Our mission is to pioneer the first platform that validates trust, empowering Web3 users to build and monetize their reputation. This raises the question: What is the unit of trust in the Web3 space? It can't be USD, the number of transactions, or any random token. At the end of our quest for the unit of trust, we realized that, being Ethereum maximalists, in ETH we trust, and Vitalik Buterin is the most reputable, the Greatest Of All Time.

Regardless of whether or not Vitalik has the most ETH, people will undoubtedly entrust him with the most ETH. As a result, we're developing an on-chain reputation protocol. Here, people can express trust in each other by staking ETH in each other's "trust pool". This protocol simulates and gamifies the real-life process of building and breaking trust through a set of rules embodied in smart contracts.

Additionally, we're providing ETH stakers with the native yield they deserve. Our mission goes beyond creating a dApp. We aim to establish an ETH rollup as the single, most reliable source of on-chain reputation data. This will allow Dapps from any blockchain to access and use this data. Furthermore, we'll give all users the chance to earn yields through ETH staking and restaking, thanks to EigenLayer.

Conclusion:

In conclusion, Goat.Tech is revolutionizing the way we view and measure trust in the Web3 space. We're not just building a protocol; we're creating a community where trust is transparent, measurable, and rewarding. Together, we can make the blockchain ecosystem a safer and more trustworthy place for everyone.

GOAT.Tech Updates:

Testnet Milestones:

We successfully launched the protocol on the Arb Testnet, gaining 46K users, along with a substantial amount of 212K ETH staked and 4,1K ETH & 7,9M GOAT harvested in just one month.

GOAT dApp Mainnet Updates:

The GOAT Mainnet Launch on Arbitrum will go live on May 13th, 2024.

Benefits of participating in Mainnet Event and stake ETH early:

• Self-Stake with no fee, no risk, only profit;

• Farm the most Mainnet Points the earliest (convertible to $GOAT after TGE);

• Attract all early stakers and earn up to 5% of staking $ETH volume in your pool;

• ⁠Get early Invite Code to start referring others, earn 20% Mainnet Points from direct referrals and 5% from indirect referrals;

• Stake first in KOLs you refer (ask them to create account and send you their Profile link first) to become their "Trustor" and start earning 30% of their earnings ($ETH and $GOAT).

Goat.Tech Social Channels:

Here's a list of official Goat.Tech channels. To ensure security, always double-check the URLs before accessing them.

Website: https://goat.tech/

Twitter: https://twitter.com/goatxtech

Telegram Announcement: https://t.me/goatxtech

Telegram Group Chat: https://t.me/goatxtech_global

Discord: https://discord.com/invite/JSsWuPVVkV

LinkTree: https://linktr.ee/goatxtech

#GOATtoMainnet