GIBRALTAR, Oct. 7, 2021 /PRNewswire/ -- The Crypto Gibraltar Conference will be the live stage of HUGS Limited's (HUGS) presentation of its first dApp, HugBunters (www.hugbunters.com) Gianni Brisson, tech entrepreneur and founder of Gibraltar-based HUGS (https://hugs.limited), will present the underlying economics of the HUGS Reward Pool at the Gibraltar Crypto Conference 2021 on Saturday, October 9th (https://cryptogib.gi).
"Gibraltar is an increasingly important crypto country, which is why we are even more excited to announce the HugBunters dApp and its native token BUXX at Crypto Gibraltar", says Gianni Brisson.
HugBunters is a decentralised quality assurance platform tackling a multibillion problem. There are currently nearly 500 million active websites and online platforms, riddled with mistakes and UI/UX issues. Errors such as typos, dead links, unavailable content, or even serious cybersecurity vulnerabilities all affect our online experience. For many website owners, hiring specialised services to fix common online issues is simply unaffordable. These services tend to be offered in a temporary fashion and are not very scalable. All of these issues result in billions of dollars of lost revenue, churning clients, and bad reviews. With its algorithmic reputation-based engine, HugBunters leverages on global talent to improve the quality of websites and online platforms at a fraction of the current cost.
"Our application is designed with both Web 2.0 and Web 3.0 users in mind. Everyone will benefit from using it", says Raad Rogge, Marketing Lead of HUGS.
All participants of HugBunters' ecosystem are rewarded with BUXX, the native utility token HUGS integrates in all its solutions. Four different types of users can earn and spend BUXX by participating in the HugBunters ecosystem:
- Business owners use BUXX to reward users for their valuable input
- Regular users are rewarded in BUXX by the platform for their contribution
- Reviewers are rewarded for scrutinising the validity of each report
- Affiliates earn BUXX for growing the HugBunters ecosystem
The BUXX token is scheduled to launch at the end of Q4, 2021. In the meantime, people can already sign up for the token sale newsletter on https://hugbunters.com/.
The HugBunters quality assurance platform's starting point is a browser plugin that every internet user can activate with a single click to report issues and get rewarded for their contribution. The underlying engine then processes the reported issues and notarises them in the blockchain. To secure the quality of reported issues, HUGS built an immutable reputation-scoring mechanism which eliminates false or inaccurate reporting.
Every reported issue is reviewed by a number of expert users who need to reach consensus before sending the report to the website owner. The quality of the consensus mechanism is safeguarded by the Prisoner's Dilemma, a battle-tested method used in gamification. Users automatically receive a rolling, notarised reputation score in the blockchain. A better reputation score will result in higher rewards and more available features in the HUGS ecosystem. Users with a low reputation score will eventually be discarded by the HUGS engine and underlying smart contracts.
HUGS will expand its ecosystem with various apps that leverage on blockchain technology and on the power of the crowd. Currently, the HUGS team is working on two other crowdsourced quality assurance applications, a Smart Cities app, and an app for people with disabilities. The Beta release of the HugBunters platform is scheduled to go live in H1 2022. The Beta of the next two apps is scheduled for H2 2022.
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SOURCE HUGS Limited