Decrypt • May 11, 24
A Crypto Startup Founder’s Diary
In this occasional series, Brother Bing takes us inside “MegaETH,” a company she co-founded that aims to make Ethereum more user friendly.
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Drep (New) can be traded on a decentralized exchange (DEX) using your Coinbase web3 wallet.
Drep (New) is only supported on a DEX. Additional fees will apply. Coinbase is not responsible for activity or assets traded on a DEX. Learn more.
DREP is an Ethereum token used in the DREP ecosystem. DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. DREP strives to tackle three particular issues: 1) inadequate public chain performance and poor developer experience; 2) segregated public chain ecosystems and small user bases; and 3) a mismatch between blockchain technology and enterprise needs.
Drep [new] (DREP) is a digital asset that is dedicated to creating "connectors" and "toolboxes" based on blockchain technology. It aims to provide solutions that blend ease of use, flexibility, and seamless integration. DREP is built on the DREP Chain, DREP ID, and DREP SDK, which allow DApp teams to launch multi-public-chain asset versions, built-in wallets, and asset trading platforms with a single click. DREP introduces the concept of Smart Pipeline technology, which is designed to enhance data processing capabilities, akin to a layer2 solution with robust scalability and zero gas consumption.
DREP operates by upgrading advanced technology solutions into APIs and Plug-ins, which reduces the learning costs, development difficulty, and complexity of blockchain on the application or enterprise side. It employs a Schnorr Multi-Signature Algorithm based on the Secp256k1 elliptic curve to boost network efficiency and minimize transmission overheads. DREP has designed a Decentralized ID (DID) system based on the HMAC (Hash Message Authentication Code) algorithm to achieve data connectivity and privacy protection. This forms a dual-layer system of master ID and multiple sub-IDs.
DREP strives to serve as a tool interface for 2B enterprises and provide an efficient and frictionless service portal for DREP Ecosystem users. It is designed to manage data and assets on both centralized and decentralized platforms within a single interface, known as the DREP Client. This client integrates functions including asset management, identity management, application development, and traffic portal. Furthermore, DREP Chain uses homomorphic encryption to enhance data privacy protection, safeguarding users' sensitive information.
The history of DREP is rooted in its commitment to building connectors and toolboxes based on blockchain technology. It was designed with the intention of providing solutions that combine ease of use, flexibility, and frictionless integration. Over time, DREP has introduced various concepts and technologies such as the Smart Pipeline technology, Schnorr Multi-Signature Algorithm, and the Decentralized ID (DID) system. These innovations aim to enhance data processing capabilities, improve network efficiency, and ensure data connectivity and privacy protection.
Drep's reputation-based system aims to enhance trust in decentralized applications (DApps) by quantifying the value of digital reputation in non-monetary terms. This system assigns a value to each participant's distinct behavior on different platforms, which can be calculated based on their acts of content publishing, voting, commenting, sharing, participation, tipping, etc. This reputation value is then used for interactions for value-added services across all online systems. Drep's system is designed to address issues such as untrustworthy data, malicious manipulation, and lack of incentives, which are common challenges in existing Internet platforms. By providing a decentralized reputation ecosystem, Drep seeks to build an infrastructure network to facilitate user engagement and traffic optimization on internet platforms, improve token distribution based on reputation-backed participation and engagement, and aims to address issues of fake news/contents/accounts by attempting to identify and filter them.
Drep utilizes a hybrid consensus mechanism that merges an enhanced version of the traditional Practical Byzantine Fault Tolerant (PBFT) consensus mechanism and Delegated Proof-of-Stake (DPOS) consensus mechanism. This dual-layer structure is composed of a root chain and customizable sub-chains. The DREP Chain strives to manage more complex application scenarios while providing a more flexible and economical execution process with zero gas consumption. This consensus mechanism enables one-click deployment of decentralized applications on multiple public chains, with the intention of improving the functionality and interoperability of the Drep ecosystem.
Drep (new) seeks to offer improvements within a variety of industries and use cases with its blockchain technology. For instance, in the finance and banking sector, Drep seeks to offer improvements in transparency, security, and record-keeping. Moving to the healthcare sector, Drep strives to address challenges such as the lack of a universal patient identification system and record management. As for the insurance sector, Drep intends to contribute to fraud detection, underwriting reduction, and the improvement of cyber insurance policies. In the realm of cybersecurity, Drep seeks to enhance the security of vast amounts of data generated every day. In supply chain management, Drep intends to address issues related to data storage and exchange. In the transportation and mobility sector, Drep seeks to address issues related to vehicle-to-vehicle communication in a network. In the entertainment industry, Drep strives to address issues related to data privacy and security. In the information and communication technology sector, Drep seeks to address issues related to data privacy and security. Lastly, in the energy and infrastructure sector, Drep intends to address issues related to carbon emission footprint.
DREP strives to quantify and tokenize online reputation. The DREP token is the platform's native token and is an Ethereum-based ERC20 token. The total supply of DREP tokens is 10 billion. The tokenomics of DREP are structured to incentivize active participation and contribution to the DREP network. Users receive DREP tokens as non-monetary acknowledgments for their contributions, which may then be used to execute transactions on the network or pay for value-added service fees. The DREP token serves as a reputation-backed asset, reflecting the reputation value of a user. The distribution of DREP tokens is allocated across various sectors including ecosystem development, team and advisors, foundation reserve, developer community, public sale, and strategic sale. The tokenomics of DREP aim to support its reputation system and encourage an active community.
Yes, DREP has undergone security audits. Security audits are an integral part of maintaining the integrity of a cryptocurrency asset like DREP. These audits are conducted by cybersecurity companies that specialize in identifying potential vulnerabilities in the asset's infrastructure. The goal of these audits is to proactively identify and address any potential weaknesses that could be exploited by malicious actors. This process is common in the cryptocurrency space, as it helps to maintain the integrity of the asset and its users. It's important to note that while these audits aim to identify potential vulnerabilities, they cannot ensure complete immunity from potential threats, as new potential threats can emerge over time. Therefore, regular security audits are a common practice for cryptocurrency assets.
Earn free crypto after making your first purchase. Terms apply.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
$1.5M
$65,542.78
100.0M DREP
Not enough data
#1631
$3.38
+0.39%
+13.45%
+2.98%
-3.34%
-33.6%
+2.35%
Decrypt • May 11, 24
A Crypto Startup Founder’s Diary
In this occasional series, Brother Bing takes us inside “MegaETH,” a company she co-founded that aims to make Ethereum more user friendly.
Read more
BeInCrypto • May 11, 24
Justin Sun’s $30 Million EIGEN Holdings Spotlighted as EigenLayer Airdrop Kicks Off
Ethereum restaking protocol EigenLayer's token allocation draws community attention as Justin Sun receives $30 million worth of EIGEN.The post Justin Sun’s $30 Million EIGEN Holdings Spotlighted as EigenLayer Airdrop Kicks Off appeared first on BeInCrypto.
Read more
The Block • May 11, 24
Victim of $71 million ‘address poisoning’ attack recovers funds following negotiations
Though the victim initially offered the attacker a 10% bounty, it appears that all recoverable funds have been returned.
Read more
Blockworks • May 11, 24
Crypto Hiring: Monad is using its $225M haul to load up on talent
Elsewhere, a recruiter weighs in on what crypto companies want, and the head of Circle Ventures departs
Read more
The Defiant • May 11, 24
MarginFi To Launch Solana LST-Backed Decentralized Stablecoin This Month
MarginFi said XBY will be the first major decentralized stablecoin on Solana.
Read more
Decrypt • May 11, 24
Ethereum ETFs: Here Are All the Applications Awaiting SEC Approval
Many major investment firms hope to get the green light from the SEC to list spot Ethereum ETFs in the U.S. Here's the running list.
Read more
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83 unique individuals are talking about Drep (New) and it is ranked #974 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Drep (New) has an average sentiment score of 3.5 out of 5. Finally, Drep (New) is becoming more newsworthy, with 0 news articles published about Drep (New). This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Drep (New). There were 89.47% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Drep (New). 10.53% of tweets were neutral about Drep (New). These sentiments are based on 38 tweets.
On Reddit, Drep (New) was mentioned in 1 Reddit posts and there were 3 comments about Drep (New). On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
Powered by LunarCrush
83 people
16 posts
0.01%
#974
3.5 out of 5
38 people
89.47%
Bullish
10.53%
Neutral
0%
Bearish
DREP/CAD (Canadian Dollar)
CA$0.0209
DREP/GBP (British Pound)
£0.0122
DREP/BRL (Real)
R$0.0790
DREP/EUR (Euro)
€0.0142
DREP/NGN (Nigerian Naira)
NGN 21.90
DREP/SGD (Singapore Dollar)
S$0.0207
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The price of Drep (New) has increased by 0.39% in the last hour and increased by 13.45% in the past 24 hours. Drep (New)’s price has also risen by 2.98% in the past week. The current price is $0.0153 per DREP with a 24-hour trading volume of $65.54K. Currently, Drep (New) is valued at 99.55% below its all time high of $3.38. This all-time high was the highest price paid for Drep (New) since its launch.
The current circulating supply of Drep (New) is 100,000,000 DREP which means that Drep (New) has as total market cap of 100,000,000.
We update our Drep (New) to USD currency in real-time. Get the live price of Drep (New) on Coinbase.
The current market cap of Drep (New) is $1.53M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Drep (New) is $3.38. This all-time high is highest price paid for Drep (New) since it was launched.
Over the last 24 hours, the trading volume of Drep (New) is $65.54K.
Assets that have a similar market cap to Drep (New) include Origin Dollar, Bitrock, Bad Idea AI, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Drep (New) is 100 million.
Drep (New) ranks 277 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 50% of Coinbase users are buying Drep (New). In other words, 50% of Coinbase customers have increased their net position in Drep (New) over the past 24 hours through trading.
Yes, Drep (New) is currently available on Coinbase web3 wallet. For more detailed instructions, check out our helpful how to buy Drep (New) guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.