Newrl’s trust network is a decentralized social graph. It’s a compliant & scalable platform to bring web3 into the mainstream — small business finance, and investments.
A social graph illustrates interconnections among people, groups, and organizations in a social network. It is also used to describe an individual’s social network. When portrayed as a map, a social graph appears as a set of network nodes connected by lines. Newrl’s design of the protocol is centered around people and focuses on how they want and need to interact with other people to build and leverage trusted relationships.
On web 3 social networks, the user data is stored on a decentralized storage system, deterring any commercial organization from gaining access to personal information. A unified and universally accessible decentralized social graph is the need of the hour to make the Internet usable by society.
Traditional social graphs are not portable. The user needs to switch every time while switching from one social network to another. All new connections need to be created from the scratch. On the contrary, a decentralized social network runs on independent servers, mostly the blockchain, instead of on an application server. A blockchain-based social graph is also transferable across any social platform or Metaverse. The user retains the same social connections across all platforms.
In Newrl’s Social graph network:
- The trustworthiness of a person is based on trust rank as in Google’s page rank.
- Unlike government-issued ids and centralized credit assessments, it is hard to fake a trust rank overnight.
- Generalizing trust score use beyond credit which is the network itself, decentralized collaborations, jobs, tenant contracts, etc.
- Publicly accessible: The decentralized social graph data is publicly accessible for all apps as an add-on feature for developers to leverage user connections to grow beyond their existing user base.
- Self-sovereign: While the social graph data is open to all, the users have complete control over their social graphs.
- Blockchain-agnostic: The protocol is created for a multi-blockchain ecosystem to support connections from anywhere.
- Decentralized governance: Inspired by Ethereum’s vision, it commits to the ideals of shared security, permissionless systems, and decentralized governance, which shapes the roadmap and development of the protocol.
- Token-incentivized: It introduces a token-incentivized model to reward all contributors who help bootstrap the social graph.
An open-source web protocol, driven by transparency, economic inclusion, trust, and societal benefit is the breakthrough innovation. It enables smart contract execution in a decentralized way, which opens the door for decentralized applications interacting with digital assets. A decentralized social graph protocol that describes the relationships between users and entities is a critical backbone.