What Is Dock (DOCK)?
The Dock is a platform for creating standards-compliant, scalable, and cost-effective applications for issuing and verifying credentials on the blockchain. The platform provides a one-stop-shop for creating decentralized identities (DIDs) and creating, managing, and presenting credentials. Decentralized identity is a concept that gives individuals back their identities by obtaining verifiable information about themselves from certified issuers via an identity wallet.
Together with industry-standard and widely used cryptographic algorithms, the Dock blockchain provides transparent and tamper-proof traceability and blockchain anchoring for time-specific data. The platform intends to address fundamental issues with existing data solutions, such as unreliable and erroneous data, platform incompatibilities, data verification inefficiencies, and an inability to control confidentiality for users. Dock is accessible and uncensorable across the platform's technology, network, and governance. The platform can operate together through markets and industries to enable a decent future driven by safe, individually-owned verified identities by allowing any organization or developer to issue via Dock.
DOCK is the utility token of Dock platform. The token fosters engagement and development by balancing rewards across all network participants, including issuers, token holders, and the platform's association. The token enables the network to govern in a free and fair manner. Any token holder can engage in the platform's association by submitting open proposals, voting on the network's development, and selecting board members. DOCK tokens are needed to execute network functions, such as creating a decentralized identity (DID), withdrawing and attaching credentials, and constructing schemas to organize credentials.
The platform uses the Proof of Stake algorithm wherein token holders can vote on proposed network modifications by locking up their tokens on the platform.
History of Dock (DOCK)
The Dock platform was co-founded by Nick Lambert and Elina Cadouri in 2017. Nick has been involved in the blockchain industry since 2011, and Elina has a career in data network startups. DOCK has a total supply of one million tokens. The Dock Association is a decentralized non-profit organization founded by the platform to supervise the network's roadmap and promotion, establish, and governance.
The platform enabled smart contract deployment during the first quarter of 2021 and aims to launch its mobile wallet soon.
