Ethereum-Based Professional Social Network Indorse Launches MVP
Indorse, an Ethereum-based professional social network, has launched its minimum viable product (MVP), opening up the beta profile creation platform.
As part of the MVP launch, registered users are now able to create a professional profile, import their existing LinkedIn profile onto the platform, and view a skills visualizer to track specialties and accomplishments.
Founded earlier this year, Indorse is a Singapore-headquartered startup that aims to build a serverless, decentralized network for professionals powered by blockchain technology.
The platform will offer users full control over their data as they build professional profiles and share skills. Users will benefit from platform growth and data insights rather than third parties.
“When we first challenged the control and use of data on traditional social networks, it was encouraging to see thousands of eager participants join us in our pursuit of an innovative, equitable model,” said Indorse CTO and co-founder Gaurang Torvekar. “We are delighted to have successfully launched our MVP, further bringing us one step closer to becoming the go-to social network for professionals.”
Indorse will use internal rewards (Indorse Rewards) and a reputation system (Indorse Score) to incentivize members to add their skills and accomplishments as well as “indorse” those of others. Participation on the platform and contributions will be rewarded in Indorse Bucks.
The release of the MVP comes two months after Indorse raised US$9 million in its token sale.
“In addition to proving the desire for a decentralized social network for professionals, our token sale demonstrated a significant level of trust and support from our community. We are thrilled to see the timely passing of this benchmark and look to continue rewarding that early trust and support,” Torvekar said.
Unlike the Indorse Score (SCR) token, a reputation token required to post updates to the member profile or indorse and flag claims, the Indorse Token (IND) is a tradeable token. IND is currently valued at US$0.08, up 60% since the beginning of the month.