EQ8 Network: An Overview

Building Trust through Authenticity

  • Blockchain –EQ8 Network is a multi-chain Dapp (De-centralised application) which essentially means that it can function on multiple blockchains simultaneously, however, we have chosen Polygon to begin with. Polygon is an Ethereum based layer 2 solutions. Polygon effectively converts Ethereum into a full-fledged multichain system with the advantages of Ethereum’s security, openness and vibrant ecosystem. Hence using polygon will enable us to leverage the power of smart contracts, allowing us to execute transactions faster (with a block confirmation time of fewer than 2 seconds) at very low costs.
  • Smart Contracts — Smart contracts are immutable programs stored on a blockchain that run when predetermined conditions are met. Like other computer programs, they are also used to automate the execution of predefined actions based on certain conditions with the objective of eliminating the intermediaries or any centralized governance. EQ8 Network will use custom smart contracts and NFTs to implement the proposed solution.
  • IPFS (InterPlanetary File System) — IPFS is a protocol and peer-to-peer network for storing data in a distributed file system. This technology uses content addressing as a way to uniquely identify each file in a global namespace connecting all storage locations. IPFS is built around a decentralized system of user-operated storage spaces, where a portion of the data is stored. This approach results in a resilient distributed system of storing and sharing data. IPFS will enable EQ8 Network to adopt distributed storage for the content that is created by the users of our platform.

Reputation Score

  • Build your Profile — To increase the reputation score, app users will be required to build their profile and earn badges by answering questions about themselves. Starting from primary level information like “Basic KYC” to tertiary level information like “Interest and likes”.
  • Earn Reward — EQ8 Network rewards users with EQ8 tokens at each step of verification. Moreover, users with high reputation scores will be rewarded with more EQ8 tokens for filling out surveys, questionnaires, polls and watching ads!

NFTs

QNFT & ANFT Model

Ownership and IP Rights linked through Blockchain Addresses

Transfer of ownership when NFT is sold

Tokenization and Privacy

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EQ8_NETWORK

EQ8_NETWORK

EQ8 is a DeSoc that utilizes Account Bound Tokens aka SBTs to enable uncollateralized lending and other TradFi instruments. https://linktr.ee/eq8.etwork