Braintrust – BTRST Token
Braintrust (BTRST) is the decentralized talent network that connects qualified individuals with vetted knowledge to some of the world’s leading corporations. As mentioned on the website, Braintrust is also known to be the world’s first decentralized talent network. The community of individuals who use Braintrust to find employment builds and owns it, ensuring that the network is always serving the needs of its consumers rather than a centralized organization. Thus, the mission statement of Braintrust is to create the world’s most effective talent network—one that is user-owned, aligns incentives, and redistributes value to talent and organizations.
Braintrust makes use of blockchain technology to transparently spread the control of its network to the members of the community, contributing toward the development of the platform. Based on the users’ contributions, Braintrust’s blockchain-based concept aligns the network’s incentives with those who are building it. The contributions by the users may include referring clients, referring talent, vetting talent, and more. Braintrust believes that putting control in the hands of the community always helps grow the network at a faster rate than relying on a central authority, which may otherwise extract disproportionate value in the form of excessive fees from its knowledge workers.
As given in the whitepaper, the Braintrust ecosystem consists of three separate parties: connectors, talent, and clients. Talents are self-employed individuals looking for work. These users sign up for the platform and go through a screening process that verifies their qualifications and background. Talents can apply for various positions on the platform, complete educational courses from the Braintrust Academy, and then participate in the community once their profile has been approved by the authorities.
Following that, there are connectors who are eligible to invite clients and talent, as well as earn BTRST tokens for successful recommendations. Not only that, but they can also receive a dynamic share of the referred talent’s invoice after completing a task.
Lastly, there are clients who place their “asks” on the Braintrust talent network by publishing jobs, providing factors like skillset, area, prices, and other parameters. They are matched with qualified talents who respond with “bids” in the form of job proposals.
Another prominent feature that makes the platform special is its effective price recovery, which is only possible because of its decentralized structure. Typically, corporations lack the necessary resources and time to hire employees at their recognized market value, leading them to use the services of middlemen, such as consulting firms, to obtain talent. This talent, on the other hand, comes at a premium. On Braintrust, a talent’s fee is frequently determined by their skills, rate, and location, which makes the entire process much more streamlined and impartial.
Furthermore, the BTRST token represents governance and ownership in the Braintrust Network. BTRST token holders can influence the network’s future by voting with their tokens on which categories the network should grow into, how disputes should be settled, what platform fees should be, what platform rules should be, and other network governance matters.
History of Braintrust (BTRST)
Braintrust token was founded by the Braintrust Technology Foundation, which is a nonprofit foundation. The whitepaper of Braintrust was released in September 2021. The founders of Braintrust are Adam Jackson and Gabriel Luna-Osasteski.
Before founding Braintrust, Adam also cofounded Cambrian Asset Management (a blockchain asset management firm) and Doctor On Demand (a healthcare service provider). Similarly, Gabriel spent his career building and investing in marketplaces before founding Braintrust. He is also a cofounder of Modernize (a marketplace in the home improvement category) and Upshift Partners (a start-up business solutions provider).
How Are New BTRST Tokens Created?
BTRST is an ERC-20 token issued on the Ethereum blockchain. ERC-20 describes a common list of rules to be followed by the tokens in the Ethereum ecosystem.
On the Braintrust platform, talent and clients can stake tokens to stand out. Staking is a process of earning rewards by holding certain cryptocurrencies. Having said that, staking of BTRST helps users stand out when applying for jobs. Similarly, by staking BTRST, clients can also stand out and attract more and more talent. Besides that, token bid staking helps the network “un-stick,” or minimize friction, making it more transparent.
How Many BTRST Tokens Are There?
The maximum supply of BTRST tokens is capped at 250,000,000.
What is Cryptocurrency? A Comprehensive Guide for Beginners
Cryptocurrency is digital or virtual currency that utilizes cryptography for security. It is not issued or backed by any government or central bank, meaning it exists outside traditional monetary systems. Cryptocurrency is arguably the most revolutionary financial technology of the digital age, and it has the potential to revolutionize how money is created, stored, and exchanged. It is quickly becoming a popular investment option among investors across the globe. In this comprehensive guide, we will help you understand the basics of cryptocurrency, and how you can use it to your advantage.
What Is Cryptocurrency?
Cryptocurrency is a type of digital or virtual currency that is secured by cryptography. It is not issued or backed by any government or central bank, meaning it exists outside traditional financial systems. Cryptocurrency is exchanged between individuals and can be used to transfer funds or make payments without the use of a traditional third party, such as a bank. All transactions are recorded on a public ledger, known as a blockchain. Each cryptocurrency has its own blockchain, which is an auditable record of each transaction ever made.
What Are the Different Types of Cryptocurrency?
Currently, there are over 6,700 different types of cryptocurrency. The most popular cryptocurrencies include Bitcoin, Ether, Litecoin, Ripple, and Dogecoin. Bitcoin is the world’s first and most popular cryptocurrency, having launched in 2009. Ethereum is the world's second-largest cryptocurrency by market capitalization. Litecoin is a faster and cheaper version of Bitcoin, and Ripple is a network for real-time financial transactions. Dogecoin is used to reward users for contributing to online communities.
How Do You Acquire Cryptocurrencies?
There are several different ways that you can acquire cryptocurrency. The most popular way to acquire cryptocurrency is through exchanges. Exchanges act as middlemen between buyers and sellers, allowing you to purchase cryptocurrency with your local currency or other cryptocurrencies. You can also acquire cryptocurrency through peer-to-peer and decentralized exchanges, mining, and earning it as a reward for completing tasks on certain websites. Additionally, many financial institutions, such as banks, credit unions, and asset management firms, offer cryptocurrency investing services.
What Are the Advantages of Investing in Cryptocurrencies?
Cryptocurrency provides several advantages to investors, including decentralization, anonymity, security, and accessibility. Since the currency is decentralized, it is not controlled by any central authority, meaning all transactions are transparent and secure. Transactions can also be anonymous, as no personal data is stored on the blockchain. Additionally, since cryptocurrency is digital, it is available to people all over the world, regardless of geographical location. Furthermore, since cryptocurrency is not controlled by banks or other financial institutions, fees are generally lower than traditional money transfers.
What Risks Are Associated with Investing in Cryptocurrencies?
Cryptocurrencies are volatile, meaning prices can change rapidly. This is due to the fact that the cryptocurrency market is still in its early stages. Additionally, since cryptocurrency is not backed by any government or bank, they are not subject to any financial regulations. As a result, investors should do their own due diligence before investing, as there is always a risk of fraudulent or malicious activity. Furthermore, since the cryptocurrency market is still new, the technology is continually evolving, meaning there may be unexpected risks that arise in the future.
How Do I Get Started with Cryptocurrency?
The first step in getting started with cryptocurrency is to choose an exchange and create an account. Make sure to research and compare different exchanges to ensure that you are choosing a reputable and secure platform. Additionally, make sure to look into the fees and available payment methods. Once you have chosen an exchange, you will need to fund your account with either your local currency or cryptocurrency. Lastly, determine which cryptocurrency you would like to invest in and begin trading! Always do your own research and understand both the risks and rewards before investing.
Conclusion
Cryptocurrency can be an exciting and lucrative investment opportunity, but it is important to do your own research and understand the risks associated with this new technology. With the right knowledge and preparation, investing in cryptocurrency can be a rewarding and profitable experience. Start by determining which cryptocurrency you would like to invest in, and make sure to compare the different exchanges to find one that is secure and reputable. With the proper research, you can be well on your way to a successful journey in the cryptocurrency market!
Exchanges List. where To Buy
Name | Trust | Price | Link |
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