Drep is a decentralized ecosystem built upon blockchain technology that empowers different platforms on the internet to monetize and quantify reputation value.
It is backed by the DREP Foundation, which is devoted to establishing a high-performance technology that supports high transaction throughput for an ecosystem that generates important reputation data. DREP Foundation seeks to develop a highly scalable blockchain architecture, DREP Chain, enabling the implementation of a reputation system that anybody may use, focusing on two industry pain points: lack of user acceptance and low transaction throughput.
Drep has a couple of components that serve as the basis: DREP ID, DREP Chain, and DREP SDK. These components make it possible for project teams to release multi-public-chain assets versions, platforms for trading digital assets, and built-in wallets with just a click.
Drep helps upgrade advanced tech solutions into Plug-Ins and APIs and in the process, it lowers development difficulties, blockchain learning costs, and complexities faced on the application side.
The DREP token governs the platform and serves as the currency for transactions between subchains. It has various functions, including paying for gas fees and trading assets in future DREP games.
Who are the Founders of Drep (DREP)?
Momo Chang and Matt Benice founded the Singapore-based company- DREP Foundation LTD in 2017, which serves as the parent company of the Drep project.
Xialong Xu is also a co-founder of the organization as well as the Chief Technology Officer.
The project has had prominent backers over the years including Huobi Eco and Qtum.
What is Drep (DREP) Used For?
The major use of Drep is the improvement of data processing abilities via the concept of Smart Pipeline.
Using the Smart Pipeline, a node can transmit real-time data that has been executed in a Smart contract to external apps. The pipeline seamlessly takes the obtained results back to the blockchain once the computation is over.
Drep’s Smart Pipeline aims to deal with super complex application scenarios while providing a more seamless, flexible, easy-to-understand, and economical execution process with no gas consumption.
What is the Unique Point of Drep (DREP)?
A unique point of the Drep protocol is that to enhance data privacy protection, the DREP Chain makes use of homomorphic encryption. This is a high-security protocol that helps to safeguard the sensitive information of the individuals that make use of the platform.
Also, Drep designed a decentralized ID (DID) system based on Hash Message Authentication Code (HMAC) algorithm to achieve privacy protection and data connectivity. DREP client permits users to manage their assets and data on decentralized and centralized platforms all in one interface.
How Many Drep (DREP) Tokens are in Circulation?
Drep (DREP) tokens have a circulating supply of 39,900,000 DREP coins.
Is the Drep Network Secured?
The DREP platform was created on the blockchain using Web3 architecture and tools, and it has been enhanced to improve security in Web3 while safeguarding users’ privacy and sensitive data. The network is secure and it provides users more control over their identity and personal data.
The platform guarantees complete privacy as users no longer have to register accounts with sensitive information like ID numbers, phone numbers, etc.
Using the DID, private data can not be stolen or mishandled by non-authorized persons.
How do I buy Drep Token (DREP)?
The Drep platform enables users to manage their data and assets within decentralized and centralized platforms with one easy-to-understand general interface.
There are different exchanges where you can buy Drep tokens with either a debit card, credit card, or Bitcoin (BTC).
You can buy Drep tokens on Binance. Binance is one of the most popular and trusted cryptocurrency exchanges globally. You can also get your token on Gate.io, Phemex, Billance, AscendEx, and Bitrue.
Which Cryptocurrency Wallet Supports Dre Token (DREP)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Drep token (DREP). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their DREP wallet because it offers a simple and interactive interface making it easy for people to navigate its system.