Checky dApp

A study by Pew Research Center, reported that 60% of adults in the United States who gathered their news from their social media accounts admitted to sharing false information. The way we communicate has changed. Almost two decades ago the media was the main source of information, today the main source of information and dissemination are social networks, surpassing traditional media, this has generated... misinformation, panic, polarization, etc.

Although decentralized social networks built on the blockchain exist, there is no verification mechanism where users are rewarded for sharing and verifying relevant and valuable information on a decentralized application. That’s where Checky comes in!

Checky is a web3 dApp that uses a consensus mechanism to verify if news sources are legitimate, users are incentivized through staking and token rewards for sharing and accurately reporting true sources. There are three user layers to Checky: 1) News outlets and independent news sources are incentivized to share articles on our platform because they earn $CHKY tokens as rewards for creating and sharing reliable, accurate content, 2) web3 novice and expert users are incentivized to share articles on our platform as they earn $CHKY tokens as a reward for submitting articles for verification, and 3) news verifiers are incentivized to upvote (true), or downvote (false) since they must stake $CHKY to vote and will only get back their staked tokens if they vote accurately and in good faith, plus they earn $CHKY on top of their staked tokens if no one challenges their vote and their vote is indeed true, within a 2-hour time frame.

Through our social media dApp, we want to curb the prevalence of fake news in web3. Let's put a stop to panic buying and selling, polarization, and misinformation.

Uma: We're using OO of UMA Protocol. UMA is an optimistic oracle and dispute arbitration system that securely allows for arbitrary types of data to be brought on-chain.

Anybody can vote for the truth of the news and anybody can challenge them or dispute so that's its a fully permissionless system that only relies on one disputer being honest. So we're not relying on an off-chain reliant network or consensus. The consensus mechanism can be biased but with oracle bias is not an option due to blockchain technology.

Lens: We're using Lens for the purpose of creating a reliable community for a web3 news sources. Once a person has voted as "real" and hasn't been challenged, the news source will be published to the Lens platform for other Lens users to read.

We want to implement a dApp where contributor's can help the web3 ecosystem combat against fake news.

Polygon: We're integrating Polygon to Uma in order to have a staking mechanism for the interest of rapidly and efficiently executing transactions in a gas-efficient and highly scalable manner.