The Dock network released 3 big announcements this week to provide transparency into our focus on digital credentials and to share our vision for the future. Following their release we held a Q&A in our telegram which is recapped below.
- Clarifying the Dock network’s vision - Outlining our journey to blockchain-anchored digital credentials and the value the Dock network brings.
- Litepaper & roadmap - States the Dock network’s path forward and the timeline/milestones leading to a self-sustaining, decentralized ecosystem.
Introduction of Verifiable - Verifiable is a platform providing end-to-end solutions that enable: -Oganizations to issue digital credentials through the Dock network.
-Individuals to manage the digital credentials they receive through an easy-to-use wallet.
The Q&A recap:
These questions are the 10 most popular taken from our Q&A in telegram. If you have additional questions relating to the above announcements please share them here as a reply to this post.
So is Dock now Verifiable?
A: What was previously app.dock.io is now under Verifiable. So your wallet and the data control apps (Identity Scanner, Data Breach Finder, etc) now live at your Verifiable account. The login credentials are identical, so you can log in to Verifiable and will be able to access everything that was on formerly on Dock.
Verifiable is an independent company and will be one of many participants in the Dock network contributing to governance and credential production, and will be an important part of early network adoption and growth.
What is the Dock network?
A: Dock is a decentralized, autonomous network for high performance credential production. Dock Network will include participation from contributors to make sure governance is decentralized and adoption is widespread. Such participants are: Issuers, Operators, Authority and validators, and Open Source Developers.
We are actively seeking participation from these contributors.
Who do you foresee as issuers in the Dock network?
A: We see primarily two types of issuers: 1. - organizations like universities, employers, trade associations, governments, e-learning; and 2. - proxy issuers like credential issuing platforms, digital badge platforms, human resource systems, learning management systems, association management systems. (Verifiable would fall under this type)
What exactly are credentials?
A: A credential represents important data about an individual: work experiences, skills, certificates, degrees, course completion, learnings, achievements and more which ultimately lead to capabilities.
What is the plan to open source the project and is Dock interested in attracting community developers?
A: The move to open source will happen over a transition period. We have our core devs working on development right now, and they will be increasingly involving the community via github until we’ve fully transitioned to open source.
Dock is very interested in attracting community developers and intends to rely on them heavily to make the Dock network successful.
When is the main net coming out?
A: The updated roadmap in our Litepaper shows Q1 2020 for having a Proof of Authority chain live and producing credentials for ecosystem participants. In Q2 2020 there will be a transition to Proof of Stake potentially followed by an integration into the Polkadot network as a Parachain.
What is the estimation of the network fee after moving to Polkadot compared to the current Ethereum network fee?
The Ethereum network uses gas fees to pay for on-chain transactions. The Dock network removes these type of fees entirely, creating a much more seamless and scalable experience.
It should be noted that there will still be fees - Operators charge a job fee to produce credentials, but due to the price being determined by the market through a bidding process we cannot provide an estimation on the actual price at this time.
We anticipate these fees will be significantly less than if this same system was implemented on the Ethereum network, as this was one of the reasons our core devs proposed moving from Ethereum to Polkadot originally.
Does the Dock token have a use case in this ecosystem?
A: Yes, the system can’t function in an autonomous manner without the Dock token as it is the core of operations and credential production in the network. Dock token is used for staking to protect against malicious behavior in the network, it’s used as payment for produced credentials, and it’s used for governance which is a last critical component of decentralization.
What benefit is there for an average person to hold the DOCK token?
A: There are two primary benefits for anyone holding Dock. 1. - To participate as an issuing operator (performing on requests to issue digital credentials) you will be required to stake an amount of Dock. When you successfully fulfill an order you will be rewarded for your efforts. 2. - The governance of the Dock network is directly determined by the votes of Dock holders. As Dock continues to move towards a more decentralized state this influence will also grow.
One fun question - When can we buy Dock tshirts? :)
A: We are working on it, stay tuned!