LaborX introduces marketplace and reputation modules
This release includes major new functionalities to help manage relationships between clients and service providers.
In building LaborX, we decided to use a modular approach to development. We have broken down the platform into several key modules, each with a discrete remit. This enables us to develop basic functionality for each module and combine them to complete the whole system. We can then continue to refine each module as necessary, based on market and community feedback.
We released the first of these, our Contract module, on mainnet a few weeks ago. The Contract module is the cornerstone of the platform, allowing users to sign digital escrow contracts on the blockchain using Ethereum’s smart contracts. Now we are ready to add further modules to improve and complete the system. Today, we are announcing two additional releases: our Marketplace and Reputation modules.
The goal of the marketplace module is to provide a space where clients and service providers can interact and post and apply for jobs.
The intention is that it will be a free market for work, enabling both sides to come together and negotiate terms for a particular task or series of tasks.
The first version of the marketplace module comes with basic features for both clients and service providers, such as post and find jobs, plus make and review job offers.
The Reputation module is a critical element of the LaborX ecosystem that will help both clients and service providers choose the candidates and companies they want to work with. Obviously, in a decentralised environment, we still need protections and feedback systems, but the way these work are very different than on conventional freelancer platforms.
We are in the process of developing an advanced algorithm to measure reputation using multiple variables. These are given different weight according to their importance and relevance. You can think of this a bit like Google’s page ranking algorithm, but for user profiles. Our algorithm takes into account factors including previous experience and education, reviews, completed contracts, and much more. The first version of the Reputation module will include functionality for leaving reviews after jobs are completed and the first version of our reputation algorithm.
Reputation is an important module for the overall LaborX ecosystem, and it will be one we continue to work on to ensure it is as comprehensive and fair as possible. The ultimate goal is to provide fair and accurate assessments of service providers’ skills and clients’ track records, helping LaborX users make the best decisions they can in the selection process.
In other news, this release also includes a series of smaller features and updates:
To reward our loyal users, we’re introducing an affiliates’ program. This is pretty straightforward: simply refer people to LaborX and earn a commission in crypto when they complete a job on the platform. More details about the Referral Program will be announced soon. In the meantime, sign up to our social media channels (see links below) to receive the latest information about the Referral Program and Promo Codes.
Support for ERC-20 tokens
We’ve received a lot of feedback about stablecoins being preferred as a means of payment. As a result, we’re adding USDT and USDC as payment options, as well as including our own Chronobank TIME token.
We’ve also included hints and FAQs to guide users and help them navigate the platform quickly and easily.
And, as always, various bugs (100) have been fixed and minor improvements (47) were made.
Thank you for your support! Check out the update on the LaborX platform!