Updated: Jul 18, 2019
We all connect to friends, relatives, colleagues and others. As we connect, a social network is formed. The more complex the network, the richer the web, the harder it becomes to fake. Frink uses these patterns of connection to recognize the legitimate members of the network and weed out the bad actors; this establishes trust without invading privacy.
This network analysis is simple and remarkably accurate. With a reasonable number of links, Frink expects to exceed 99.9% accuracy. Frink analyzes the network in a decentralized manner, rewarding the real participants with our currency, Frinks, and excluding those who try to game the system. As users link to others, they create a free and accurate decentralized ID.
Though many use cases exist for Frink IDs, the first and most important use case is users earn the right to have an equal say when it comes to mining Frink’s Proof-of-Person blockchain. No Proof-of-Work or Proof-of-Stake is required to eliminate manipulation.
The benefits of Proof-of-Person mining are:
True decentralization with every miner having an equal say
Million times more energy efficient than Proof-of-Work
Sharding, aka splitting, can be done using socially connected communities
Sharding allows high scalability, high performance, and low bandwidth
Users who tie their transactions to their ID have free transaction fees
The simplicity of the system means that everyone in the network can participate. A Frink miner runs right alongside the Frink wallet on the phones of members — bringing equality to the market. Frink members, gain rewards for their participation in the community. The incentives of the market match the common good.
Beyond this, Frink IDs are useful anytime anyone wants to interact with anyone else in a manner that minimizes required trust. For example, they can be used for cheap ID verification, minimizing trust when buying or selling, removing captchas, anti-virus protection, preventing scams, decentralized private digital voting, more efficient and secure decentralized computing and storage and far more.
Frink is the decentralized market for everyone.