Reputation & Donate with Scatter
Reputation inside an anonymous and trust-less system lays the foundation for more robust systems to be built on top of that trust. Every entity on a blockchain is unique, even the duplicates; and can have reputation assigned to them. These entities can be domains, blockchain addresses, public keys or accounts, decentralized or centralized applications, users of specific applications, or any other type of entity known by a unique identifier or name.
One of the basic use-cases of RIDL is an exchange known not to release funds. Such an exchange will have a poor reputation designated by a low rating, which generates an alert that you shouldn’t trust them. The community members can hold not only one another accountable but also applications; providing a safer and more trustworthy environment both on the blockchain and off of it.
In order to make sure users aren’t indefinitely squatting on identity names, there is a nominal yearly fee to retain ownership of a given unique identity and its reputation. The price is tied to a dollar value, and the yearly fee is currently $25.
The RIDL Defender system is Scatter’s personal use-case for RIDL within the Scatter ecosystem. Every Scatter user benefits from the protection that RIDL provides but only those who register with the system can affect reputations and become a unique entity across all blockchains. Along with those abilities they also gain the possibility of mining more tokens by being the first or next in line to repute an entity.
When a user tries to interact with an application or send tokens to another user RIDL will fetch that entity’s reputation and display warnings about it if certain fragments of that reputation are negative. For instance if an address they are about to send tokens to is a known “scam” then a warning will be displayed to the user.
Let’s return to the example of an exchange. If an exchange has been given negative “privacy” frament reputation and you are about to sign a transaction transferring your tokens to that exchange, Scatter will display a warning that includes the score in relation to all other similar scores (percentage based on the entire network), an explanation of the score, and the total number of users that have reputed that exchange. In this case it would inform the user that other users are reporting their private information is being leaked.