Gems Protocol – Amazon MTurk Killer
Gems protocol is the protocol for decentralized mechanical turk. People will use Gems to complete micro tasks.
3 Components of Gems
- Gems Protocol: The Gems Protocol assesses the validity of work and trust of network participants; DApps will be built on top of the Gems Protocol
- Gems Platform: The first platform built off of the Gems Protocol; pairs workers and requesters for micro tasks.
- Modules: Reusable open-source task interfaces built on the Gems Platform
Gems reduces consensus by redundancy, increases pay for individual workers while decreasing total pay for requesters, creates efficient interfaces, eliminates large fees, allows others to build innovative DApps on top of it, and enables computer literate workers with internet to work with or without a bank account.
Gems V/S Centralised Microtasks Platform
Gems Network Overview
- Gems Staking Mechanism
- Gems Trust Score
- Gems Platform and Modules
- Gems Payment System
Gems Platform solves existing issues with centralised platforms
1. No centralised fees : Workers get rewarded handsomely
2. No Identity verification required: Increases participation on platform as users won’t have to give away sensitive details
3. No need of centralised/traditional payment systems like Banks,Paypal : Users get paid on the Blockchain via Gems
4. Ease of usability : Easy interfaces increases the adoption/time spent on the platform increasing the overall work output.
Gems Staking Mechanism
Workers stake tokens in order to prove validity of their tasks and earn a reusable computed trust score, enhancing the cost-efficiency of the network while democratizing access to scalable micro task workers
3 Components are involved.
- Staking Method for Miners Ms [Employees,Workers completing tasks]
- Staking Method for Verifiers Vs [those who validate the completion of tasks]
- Staking Method for Requesters [Employers who outsource tasks]
How Staking Mechanism works
When staking ( stake a token, or a fraction ) Ms, the miner asserts that the work they have completed is done accurately and for the best possible results. Stake is large enough to pay verifiers and gas fees on the network.
Verifiers Vs stake a smaller portion of token . The verifiers’ stake ensures verifiers do their job correctly. Reward paid to Verifiers is less/equal to Miners. If verifiers do not reach consensus on the miner’s accuracy, a new set of verifiers are asked to verify the task. The new verifiers will be paid through the lost stake of the verifier who was wrong in their previous assessment.
Requesters essentially put their reward in escrow /Stake for each task
Gems Trust Mechanism
Every participant will have a Trust Score linked to their Ethereum address.
The trust mechanism is integral for permitting miners to earn the privilege of being a verifier. The trust mechanism will also protect miners and verifiers from poorly designed or fraudulent requesters
Gems Protocol is an efficient way and provides a better alternative than traditional crowd multi tasking platforms. Gems Staking Mechanism and Gems Trust score are just in Phase 1. With further growth, more advanced mechanisms will be included and developed. Anyone can build on the Gems Protocol, creating innovative verification methods for new types of work. Gems is the Amazon Mechanical Turk killer.