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The Human Protocol is an infrastructure to reshape the way humans work by supporting distributed job markets in which any job of any size or type can be securely tokenized, published and completed. The HUMAN team is now developing a new blockchain coordination layer to empower communities to contribute positively.
Providing an incentive structure featuring stakes and additional reward mechanisms
Human Protocol has developed a new layer – Routing Protocol (RP), which includes things like voting, proof-of-balance, liquidity, and slashing. The new RP sits as a layer on top of the Human Protocol to streamline coordination for the human community. To better understand, if the core protocol is the layer that performs the interactions of the contributors, then the routing protocol is the layer that coordinates these interactions. This enhances optimal execution, decentralization and agent reputation on the network.
But what exactly will the new routing protocol do? First, it will provide a framework to incentivize third parties to contribute to the network by providing a blueprint for coordinating third-party agents that contribute to the protocol. Through routing protocols, businesses and equipment vendors can commit to HMT to access the network. The routing protocol works on a proof-of-balance model. Anyone wishing to participate in the network must deposit the amount of HMT, like a security deposit, to encourage good behavior. If the user misbehaves (see slashing below) this bet may be reduced to the amount placed. The safety mechanism also plays an important role in determining the operator’s priority in getting the job done.
Routing protocols offer several benefits with different types of staking; Governance staking is whereby any user or network operator can stake HMT in exchange for VHMT, a token used for governance voting. It encourages active participation in the network by the community.
Mortgage Se Lockup protects against flash loan governance attacks. Overall, staked tokens can offer lower operator fees or lower collateral conversion costs. Also, a rebate mechanism can be introduced to reduce the fee if payment is made in HMT instead of other collateral in future.
Voting and Market Making
Along with proof-of-balance, staking and liquidity, the new routing protocol also includes voting, market making and slashing. The concept of voting focuses on elective conviction voting, whereby voting power increases with each vote, increasing voter prestige each time a voter refers to valuable projects, tasks to be solved, or the overall development of the human project. contributes to. In addition, this voting model will use the human protocol reputation oracle to adjust voting power and potentially incentivize and motivate users to contribute to the human protocol.
DeFi applications, such as Hummingbot, can use routing protocols to provide mechanisms to further encourage network contributions. These characteristics are the beginning of what can be achieved after RP is applied to a human. Another thing being introduced to discourage bad behavior within the network and made possible by the new RP is slashing and soft freezing. For example, if a bad actor attempts to tamper with voting or refuses to pay workers in a work pool, human protocol can reduce the amount of money at stake.
In case of operator inaction, the payment from the pool will be withheld for a specific time, which will act as a test alert.
Visit the website for the latest updates on the Human Protocol, follow the development Twitter and join the community discord, Alternatively, contact the HUMAN team to inquire about integration and usage or to learn more.
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