Semada is a decentralized autonomous platform for validating domain specific reputation (expertise). Semada includes 4 main components:
- A dynamic list of system-generated sub-tokens, representing reputation/expertise in any domain.
- The forum of expertises. For each expertise, there is a linked list of posts, where each list has a sub-token assigned to it, based on its root post, called the expertise tag. Each post can include opinions, evidence of work, evidence of expertise, policies, and contract templates. A post is a trivial smart contract on the Ethereum blockchain, typically a short text post.
- The bench of anonymous experts/validators who stake their respective sub-tokens to answer validation requests or proclaim their availability for off-platform work.
- The validation pool. Experts may stake their expertise-specific tokens in order to validate or invalidate posts through a betting pool. This is used to answer validation requests, set precedents, promote specialization and proficiency.
Public users access Semada core by requesting a validation pool, which requires an arbitrary post and fee as input. The public is therefore free to choose their own smart contracting language for employing the platform. Public users control all contractual choices, including deciding which types of expertise are required from the bench, what fees are paid to the system, and how experts are called. Experts decide whether such fees and work are acceptable. The forum mediates between the two, as it contains evidence of past successful smart contracts.
The commenting forum will also be a testing ground for improving smart-contracting language via the upvote process of validation pools. Successful solutions will evolve via the criticism of actual and hypothetical contracts.
A validation pool is a betting pool, where experts stake percentages of their total reputation to up- or downvote posts in the forum. The winners divide the losers’ stakes, enriching their reputation.
Reputational tokens are minted in Semada core with each fee paid by the public, proportional to the fees paid by the smart contract. These tokens are automatically staked fairly as 50/50 up- and downvote bets on the associated posts to ensure fees never influence decisions in validation pools.
Fees paid by smart contracts employing the Semada platform are distributed to all experts in salaries weighted by reputation.
Combined with Semada platform’s two concrete branches, the bench of experts and the forum, the third branch of the system, consisting of the public smart-contracting parties, creates an incentive-driven feedback loop entailing a system of checks and balances which combat corruption and encourage healthy development of the platform and the larger crypto economy.
The platform encourages a reputation-driven meritocracy, since global users with genuine expertise will find it easier to gain and maintain sem tokens than those who buy them. As demonstrated, sem tokens lose relative value as fees are added to the system, leading to inflation, which discourages rent-sitting.
This meritocratic system therefore inhibits the 51% attack. The 50/50 staking of all fees which enter the system, and vesting of reputation according to a fair validating pool from reputation-weighted users inhibits Sybil attacks and the tyranny of the majority problem.
The system automatically scales to valuate any type of expertise with verified and regulated reputation.