Do you trust your ICO data? A San Francisco startup, Dirt Protocol, has raised $3 million in new investment from 26 investors to create a trustworthy data source.
The investors include venture capitalists Greylock and General Catalyst as well as crypto investors Digital Currency Group, Pantera Capital and Linda Xie.
The idea is to create a reputable list of verified ICO projects. The list can be edited by anyone but it will be moderated by stakeholders, according to co-founder and CEO Yin Wu.
“For an ICO team to add itself to that registry and list its advisers, it would need to ‘stake’ tokens, thus making a bet that the information is correct. To dispute a claim, people must wager their own tokens, and whoever wins the challenge, decided by number of votes, wins the opposing party’s staked tokens,” according to Forbes. Read more here.