If you’ve been interested in crypto for some time, you might have heard of Dock.io or the Dock token. Knowledge about Dock.io might be helpful, but there isn’t much information online. In this article, we present everything that you need to know about Dock.io.
Powered by Ethereum, Dock.io is a decentralized professional network and an open-source, blockchain-based platform that allows various smart contract functionalities. It emphasizes users' privacy and control over their professional data thereby aligning users' interests with third-party applications.
Key Takeaways
- Dock.io is an open-source platform created to solve problems with data solutions
- Users can upload any data to Dock.io and decide who can access it
- Data can be public, or encrypted to keep it private
- The Dock token is used to process network operations
- The Dock Token can be purchased on Binance
The Mission of Dock.io
The platform was founded with a mission to solve well-known problems with current data solutions. These include data silos and gatekeepers, platform incompatibilities, lack of privacy and control for users, among others.
The company also states that by enabling any developer or organization to issue via Dock, they can work together across different markets and industries to create a better future powered by secure verifiable credentials.
How Dock.io Works?
On Dock.io, sharing data is a very simple concept. Users can upload any data they want to the platform and decide who will have access to that data.
Basically, users can connect with different companies on the platform. Each of these relationships are recorded on the blockchain as a smart contract on the Ethereum blockchain. This is a huge difference from standard platforms where you can’t control the platform’s access to your data.
The platform allows you to share data in a public unencrypted way if you don’t consider the data sensitive. This can be data such as your name, education, employment history, and similar info. However, when the data is published publicly, it will remain public forever, since there is no way to undo it.
The platform also allows you to encrypt the data you upload and keep it private. Once encrypted, only you can decrypt the data, or give permission to an application to do it for you. Your data remains fully in your control. Note that the data can have a variety of formats, but some critics have suggested that standardization of data formats will be necessary.
However, Dock found a solution in data format signaling, which means that applications signal which data they accept.
Dock.io | The Technical Side
As mentioned, the platform is built on the Ethereum blockchain. However, since there is no way to store or retrieve the data it is meant to hold, the team is using the IPLD specification, which helps Interplanetary File System (IPFS) perform data exchange.
IPFS is quite similar to a torrent network. However, instead of torrent files, the IPFS network stores hashed files, which are stored in the collection of “nodes”. Whenever you need to retrieve a file, you can do it by calling the associated hash. The blockchain doesn’t need to store data, but only an associated hash.
Dock.io | Data Sharing Model
Data sharing on the platform is controlled by a unique “tokenomics” model. The main difference that model makes is DOCK token denomination, which, unlike most projects, should be done in fiat, not ETH.
The reason behind this is to improve price stability. We all know that crypto prices can be very volatile, and the company states that by using fiat they can prevent huge price swings.
Dock.io | The Community
The Dock community has over 45,000 followers on Twitter, almost 25,000 members on Telegram, and over 15,000 followers on the subreddit – this is a great sign for a blockchain project. However, there is almost no interaction on the subreddit. Most of the posts are done by the Dock team, and there are often no comments.
The Dock Token
The Dock token (DOCK) was released in April 2018, reached its all-time peak of $0.242743 just a couple of weeks later. After that, the bear market took over, and a year later, the token hit rock bottom at $0.007543.
Note that the token is listed on very few platforms. However, it is listed on Binance, which is where most of the trading of this token takes place. Note that DOCK is an ERC-20 coin, and you can keep it in any compatible wallet.
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