Technology is unadorned until it is assembled and put to use efficiently to serve your purpose in the best possible manner. Curate has efficiently curated technology with fashion. It is a blockchain-based smart contract enabled, style discovery DApp. Being simple in its own way, it is a platform for discoverers, curators and content users. Curate has a pop-out feature amongst other platforms in the fashion industry because of the hard-and-fast technological features behind it. We might just miss a juncture if we step ahead without reviewing the high-tech behind Curate.
Blockchain is the biggest opportunity set we can think of over the next decade. More and more industries are leveraging blockchain technology to up their game of security and transparency within their business cycle.
‘Trusted Third Parties are Security Holes’- Switch to Blockchain
The distributed ledger system is the backbone of Curate platform. Curate is built on the Ethereum Virtual Machine (EVM), with the active implementation of the ERC–20 token smart contract standard, the most popular and widely-used smart contract token standard on the Turing-complete blockchain.
Data entry on a decentralized blockchain network is nearly impossible to overrule because of the nature of its complexity, making it secure and viable under the following requisites.
- The confidential user data is stored across different nodes with a hash and timestamp, before being recorded on the ledger.
- The blockchain network is hard-to-break because it is not logical to hijack systems that are built upon each other counting up to thousands and modify all of their data at a time.
- Transactions will be done in a peer-to-peer (P2P) manner, while the information of each user will be stored securely on the blockchain decentralized network, but not available for anyone to have access unless members in the technical department.
The team at Curate is looking forward to a larger customer base, catering to which they are about to streamline provisions for sidechain along with mainnet. This would solve the problem of disorientation within the mainnet because of a future wider user base. The provision has been put on hold for a later and immediate implementation as and when the need arises.
The dashboard of the Curate Application is itself going to be a DApp. It’s free to use. You simply sign-up, go through KYC to earn an additional % of BTC and CUR8 tokens and start discovering and shopping on Curate.
Know your Customer- Security Adhered!
Curate has implemented the KYC protocol in order to gather information about the users on the platform. This coupled along with verification would maintain a unique identity of each and every user on the platform by rooting out activities such as multiple accounts of a single user on the platform. With this, the platform will stay protected from all the fake reviews that might crash the platform from multiple fake identities which in turn would help in accumulating a casket of genuine comments/reviews that help in upvoting the discovered and curated designs on the platform. Once you are done with KYC, start discovering or reviewing designs and earn rewards i.e.CUR8 tokens.
Curate (CUR8) – The Tokenomics
Curate token, an ERC-20 utility token smart contract standard compatible, and is exchangeable with utility tokens which are majorly Ethereum-based tokens. CUR8 token will be a reward-based cryptographic token, which as well will drive exchange for goods and services, leveraged for its utmost utility value maximization, and issued only during the IEO rounds.
CUR8 token is a token with authentic utility characteristics, features, and functionalities-
- It will be distributed on the Curate decentralized fashion discovery platform as a primary reward token with time.
- It could be easily held or stored in any ERC-20 compatible wallet.
- There will be different rate offers and options to get the item at a discount when the buyer makes the purchase with CURATE coins.
- CUR8 tokens will not be mineable, as they are pre-mined, but will be having a provision for enough tokens to be released at launch that will cover the needs of everyone on the exchange platforms.
The platform will have an option to upgrade to a Curate Pro membership, which is $149/year giving retailers more perks such as featured listings, verified badge, ability to offer a higher % of CUR8 tokens to users.
After you have some handful of earned tokens, go ahead and buy some unique designs on the platform. Transactions through CUR8 tokens are made easier with the help of smart contracts.
Smart Contracts- A Transaction facilitator
Smart Contracts, being a system of credible transactions without third parties ensure fair and equitable distribution of rewards on the Curate platform. These contracts are stored on the Curate blockchain.
- Acting as a transaction coordinator, smart contracts help in keeping a track of activities on the platform.
- The unique smart contract code helps in calculating the rewards that will be given to each member for their contribution to the platform.
- The rewards are generated in accordance with the popularity that a particular discoverer has gained through upvotes on their design at the platform.
- Smart contracts monitor every transaction on the platform, ensuring a two-way confirmation before marking a transaction successful and recording it on the distributed ledger.
Now that you have your product handy, you can easily know where it is sourced from. Just pull out your smartphone cameras to access RFID.
Remote Frequency Identification (RFID)- Ensuring Credibility!
Whether the manufacturing industry accepts or not, there is a sustainable business in RFID production. Curate runs on a unique RFID protocol integrated into the system as a counteractant against fraud. RFID will be implemented through smart tags with a unique code on each product, being circulated. You can use your smartphone cameras to scan the code and pull out the history of the product. Blockchain makes it more viable by storing and processing the information on a distributed ledger at each level of the supply chain, straight from the raw materials to the resulting final product. How is it helpful?
- Helps you to identify the authenticity and genuineness of the product
- Extract the history of the product by scanning the product code
- Ensures sustainability in the market as transparency is the watchword.
Where is the industry headed with such a combination of transpiring technologies
The fashion industry mingled with such emerging technologies, certainly has a long way to go. The overpowering technology has its way down to a wider user base in the 2030s. The reason why blockchain may end up ruling in the near future is its overpowering feature that ensures transparency and fair deals in a market filled with frauds.
Official website- https://curate.style/