• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Altcoin

      Fundrequest incentivices open source collaboration on the blockchain

      Hitesh Malviya by Hitesh Malviya
      March 2, 2021
      in Altcoin, Blockchain, ICO
      0 0
      0
      FundRequest
      13
      SHARES
      96
      VIEWS
      Share on FacebookShare on Twitter

      FundRequest is a decentralised marketplace for open source collaboration. On their platform, a company can fund open issues on any project, and programmers who solve these problems are paid for. This bridges an important gap in the open source world, where enthusiastic programmers put in hard work contributing to open source projects, and companies are hungry for talent and just can’t find them. As their whitepaper aptly puts it –

      Inspired by the rise of the gig economy, we bring together developers and organizations requesting open source development.

      The blockchain use case

      FundRequest uses blockchain and smart contracts to manage contract resolutions between project funders. The way it works is as follows –

      • A funder adds funds to a request on the FundRequest platform
      • FundRequest locks these funds in a smart contract that acts as an escrow service
      • A solver wants to solve that request and indicates this intention by staking towards it
      • The solver solved the request and wants to claim the reward
      • The project owner gets notified of the claim and validates it
      • Once the project owner validated the claim, a cooldown period is initiated during which the funds and stakes remain frozen. This is done to prevent any malicious behaviour from funders and solvers.
      • Once the cooldown period has elapsed, the solver can withdraw the funds together with his stakes. In addition, the SkillToken Factory rewards the solver with skill-specific tokens.

      There is also a detailed section on dispute resolving and how teams can be managed in the whitepaper, which is a good sign, as the company has gone into fair detail on how the product would work. The idea of skill-based tokens a brilliant way to quantify skill within the platform, where funders can very easily filter candidates based on their proficiency.

      Token Utility

      The token utility is fairly straightforward. FND tokens are utility tokens which will be used by solvers, to stake towards an issue and solvers will always be required to hold some FND tokens. Initially, every issue can only be funded and rewarded with FND tokens, but over time the team intends to allow funding via other tokens and even fiat currencies.

      This last bit of opening up the payments ecosystems to other modes of payments is clever from a business development standpoint, as most companies might find acquiring FND tokens to be a barrier to entry to using the platform.

      The team

      To us, this is one of the most refreshing blockchain teams out there. While most ICOs are peppered with business leaders, it is nice to see an almost all developer core team with FundRequest. Co-Founder and CEO Karel Striegel is an experienced dev-ops engineer and the CTO, as well as the COO, have strong computer science backgrounds.

      The mentality of this team comes through in their fund allocation, where 60% of the funds raised will be allocated for product development – this is rare.

      Partnerships

      We had recently reported about FundRequests partnership with SingularityNet for AI integration. Hot on its heels is another partnership with Indorse, a reward-based decentralized professional social network where users can control their data, to match talented and certified open source developers with available projects, bounties and jobs.

      The combination of the two systems will provide people with a legitimate professional record to showcase their Indorse profile on FundRequest while simultaneously allowing Indorse users to search for programming jobs and bounties on FundRequest.“Partnering with Indorse is a perfect symbiotic relationship for our goals with FundRequest,” said Karel Striegel, CEO FundRequest. “We will give Indorse users access to projects and jobs in the blockchain and open source communities, meanwhile we will have access to vetted, top quality developers to work on the projects on our platform.” 

      The collaboration will closely tie the projects together. Users will be able to display and link their Indorse profile on the FundRequest platform, and reversely show their FundRequest activity on the Indorse system.

      We’re noticing a healthy pattern when the FundRequest team works very closely with companies with mutual interests. This particular one works towards legitimising the skill of a developer while providing developers across platforms with access to gigs. This truly shows the mission-driven approach of FundRequest.

      Our take

      FundRequest recently concluded a 12.5 million USD crowdsale, are have recently launched a private alpha of their platform. In the time to come, they will look to launching the platform to the public, and populate the marketplace on both ends.

      In our opinion, this is a solid platform that is solving a very real problem. Any developer related stat that you come across will tell you how companies are hungry for top programming talent, and there never really has been a way to fund open source development, barring programs like Google Summer of Code and other bounty programs.

      It is now a question of adoption on both ends. While we can think of quite a few programmers who will greatly love such a platform, and the recent partnership strengthens the supply side of the marketplace, will corporates adopt this unconventional method for building their solution? Time will tell.

      Visit FundRequest

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: ForReviewFundRequesticoOpen Source Programming
      Share8Tweet2Share1

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      Polygon: The Swiss Army Knife of Web3

      Polygon: The Swiss Army Knife of Web3

      by Shubh M
      May 27, 2023
      0

      The extraordinary ascent of Polygon Labs commenced with the collaborative efforts of its founding team, Jaynti, Snadeep, and Anurag, who...

      Worldcoin: The Biggest Crypto Scam or Innovation?

      Worldcoin: The Biggest Crypto Scam or Innovation?

      by Guest Author
      May 18, 2023
      0

      With a mission to bring crypto to the masses, Worldcoin aims to become the first truly global digital currency. Its...

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      by Zach Hirsch
      January 17, 2023
      0

      With the convergence of AI, AR, VR, and blockchain now making alternative realities possible with web3, it’s a cool time...

      Modular Blockchains: The Next Big Thing in Web3

      Modular Blockchains: The Next Big Thing in Web3

      by Aniketh Paul
      December 12, 2022
      0

      Modular blockchains focus only on specific tasks and offload the rest to other layers. Celestia is one of the examples of such blockchain projects....

      Tezos Blockchain is Always Under the Radar but Continues to Excel

      Tezos Blockchain is Always Under the Radar but Continues to Excel

      by Karthik Guttha
      November 22, 2022
      0

      What is Tezos? A Detailed Review When you think of smart contract platforms running on public blockchains, Solana and Ethereum...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Top crypto coins for 2018

      Top 25 crypto coins to Buy in 2018 [UPDATED]

      October 4, 2018
      IoT Chain

      IoT Chain : The IOTA Killer

      September 20, 2018
      Highlights from 2021: The Year of Crypto

      Highlights from 2021: The Year of Crypto

      December 31, 2021
      Be warned! Hackers are abusing API keys and stealing your funds

      Be warned! Hackers are abusing API keys and stealing your funds

      June 15, 2021
      cryptocurrency

      Top 10 Cryptocurrency Projects from India

      May 18, 2021
      Polygon: The Swiss Army Knife of Web3

      Polygon: The Swiss Army Knife of Web3

      May 27, 2023
      Worldcoin: The Biggest Crypto Scam or Innovation?

      Worldcoin: The Biggest Crypto Scam or Innovation?

      May 18, 2023
      EIP-4844 Explained | The Biggest Ethereum Upgrade

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      February 7, 2023
      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      January 17, 2023
      RINO Enterprise Wallet launches free Community Edition

      RINO Enterprise Wallet launches free Community Edition

      January 14, 2023
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Modular Blockchains: The Next Big Thing in Web3

      Modular Blockchains: The Next Big Thing in Web3

      December 12, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29635 shares
        Share 11843 Tweet 7402
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9933 shares
        Share 3972 Tweet 2483
      • Top 10 Low market cap altcoins to invest in 2021

        7269 shares
        Share 2906 Tweet 1816
      • Top 10 NFT Crypto Projects You Should Know

        7256 shares
        Share 2623 Tweet 1640
      • List of leading partners of Ripple, and How they use XRP?

        6150 shares
        Share 2460 Tweet 1537
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.