What Is Dock Cryptocurrency?

Centralized platforms have revolutionized the way in which employers and business owners source their workforces. However, the organizations which own these systems are able to retain ownership of massive amounts of individual data and information, leading to market monopolization as well as a lack of innovation.

Dock.io is an all-new blockchain-based technology which aims to solve the issue of data hoarding via the implementation of a protocol that encourages data exchange and transfer between different digital platforms.

The dock.io protocol is a special purpose decentralized data exchange protocol which is meant to incentivize the exchange of work experience, reviews, and professional connections.

Through the use of the Ethereum mainchain, data encryption, and an incentivized token model, the dock.io protocol has been devised to help users take control of their data and exchange it between two or more DApps. Additionally, the dock.io native currency helps facilitate information exchange by providing lucrative rewards to all of the involved parties.

Lastly, when using dock.io, deployed applications will receive tokens for data exchange. Network participants are given full control over their data through the use of a hosted third-party service.

Overview of the project

• The platform has the unique ability to connect a user’s online profiles and reputation status onto one shareable source using blockchain technology.
• Dock.io helps save time by aggregating individual data sources onto one platform.
• It allows users to update their information from any website onto the dock.io network. Data from all synced apps is automatically transferred and maintained by the platform as well.
• It provides users with instant access to previously stored information so that manual forms can be filled out in a matter of seconds.
• Users are given complete control and ownership of their data. They can choose which apps are allowed to access their information and what data is shared on the internet with third-party actors.
• Dock.io is a decentralized protocol that has been built securely using blockchain technology.

Key Features

Firstly, dock.io uses the IPLD2 specification developed for IPFS to exchange content-addressable data. Additionally, users have the ability to form an ad-hoc ‘pub-sub’ network between themselves, wherein all of the content is encrypted with the receiver’s on-chain stored public key.

Visual representation of how data is shared within the dock.io network

When deploying this service in a business setting, there is no need for a direct exchange of packet data between a user and any third-party application. This is because the encrypted data packages are replicated in part by the nodes contained within the system. Also, thanks to the IPFS module, it is possible to discover and resolve the integrity of native data packets without the originator of the package needing to be online. Originators of the data are only required to be on the internet if the data they’re pushing is fresh and has never been published to the network before.

Lastly, dock.io uses a voting protocol that is dependent on IPFS. This is because all of the data stored within IPFS includes pertinent information such as:

• Proposal details
• Answer choices
• Start and end time
• Author and vote identifiers

Lastly, the whitepaper mentions that MetaMask can verify whether someone is qualified to cast a vote. Based upon the number of DOCK tokens held by an individual, a smart contract calculates the number of votes that can be attributed to a particular person.

How it works

The platform utilizes an open-source standard for anchoring data to blockchains called Chainpoint. Chainpoint was developed for the purpose of anchoring data to a single chain as well as making it possible to prove that an update done within the native system has been executed at the same time at which a specific block was generated.

 Verification protocol used by dock.io

Other key points of emphasis include:

• Users are able to participate in selective data-sharing with third-party applications within the user-application contract.
• The executor is the only actor within the network that is aware of the latest data updates.
• Once the application decrypts its update with its own key, it may use it freely.
• After data has been shared with an external application, the user loses control over whether that information should or should not be shared with other DApps.

About the team

Nick Macario is the founder of this project. According to his LinkedIn profile, Nick previously established another big-name digital startup called branded.me. He is also the receiver of numerous awards and has had his articles on digital topics published on various trusted media outlets.

Elina Cadouri is the co-founder of dock.io. She, too, has been in the tech domain for over a decade and previously founded a successful freelance venture, Outsource.com. Lastly, Stenli Duka is the CTO of this project. Stenli describes himself as a “seasoned full-stack engineer” whose passion lies within niche areas such as:

• Machine learning
• Natural language processing
• Complex algorithmic coding

Token Details

As is evident by now, all transactions taking place within the dock.io ecosystem are processed through the use of a native currency called DOCK.

DOCK token lifetime performance data (courtesy of CoinMarketCap)

Introduced into the market a week back, the currency initially traded at a rate of $0.08 per coin. Over the course of the past week, the value of DOCK has remained relatively stable, and as of May 2, the value of a single token stands at $0.119.

Final Thoughts

With dock.io looking to streamline the way in which data is managed and shared with external third-party actors, it would not be surprising to see this technology pick up a lot of steam in the coming few months.

While the platform looks very inviting, users should do a bit of self-research before they start putting large sums of money into this project.

If you would like to start investing in dock.io, currency trading pairs are currently available on platforms such as Kucoin, IDEX, and Gate.io.