The Light Protocol is a framework for building trustless reputation & credentials on Ethereum.
Light is a decentralized protocol for building trustless reputation on Ethereum. Until now, it has been hard to visualize and understand the social status of a person's network, or credibility directly on the blockchain. Through incentivizing all actors in the protocol to act in beneficial of the trusted network, we aim to build a sustainable reputation system that lives forever on-chain.
Initially, the use-cases of reputation will be confined of the following:
- On-chain credentials
- Eligible for protocol incentives
- Speculation of rewards
We aim to take things further down the line upon establishing a trusted network:
- Undercollateralized loans
- On-chain discounts and perks
- Retention based advertisement
We hope to establish an on-chain reputation system to incentivize actual contributions the blockchain. Since everything can be financialized on the blockchain, it leads for a very unfriendly environment for new comers. Through introducing non-financialized incentives and social status, we hope to start a new movement to support a billion people on web3.