Gems
Gems Key Points
- Gems is a decentralized, open-source blockchain platform designed for micro-tasking.
- It aims to provide a more efficient and fair system for micro-tasking, reducing consensus by redundancy and making it cost-effective.
- The GEM token is the native cryptocurrency of the Gems platform used for transactions within the network.
- Gems seeks to democratize access to work for people around the world, irrespective of their geographical location.
Gems Definition
Gems is a protocol built on the Ethereum blockchain that seeks to decentralize the process of micro-tasking. The platform’s native token, GEM, is used for transactions within the network. Gems aims to reduce the inefficiencies in the traditional micro-tasking industry by eliminating middlemen, reducing redundancy and ensuring fair compensation for work.
What is Gems?
Gems is a decentralized micro-tasking platform that creates a peer-to-peer network where individuals can contract and complete micro-tasks. It operates on the Ethereum blockchain and utilizes the GEM token for transactions within the platform.
Micro-tasks are small, simple tasks that require human intelligence to complete and can range from data cleaning to image tagging.
Gems aims to provide a fair and efficient platform for these tasks, removing the need for expensive middlemen and ensuring that workers receive fair pay for their work.
Who Created Gems?
Gems was co-created by Rory O’Reilly and Kieran O’Reilly, two brothers with a shared vision of democratizing access to work and creating a more equitable system for micro-tasking.
The O’Reilly brothers have a strong background in technology and entrepreneurship, having previously founded several successful tech companies.
When was Gems Launched?
Gems was launched in 2017, with the aim of revolutionizing the micro-tasking industry by leveraging the power of blockchain technology.
Where is Gems used?
Gems is used globally, thanks to its decentralized nature.
As a blockchain-based platform, it allows anyone with internet access to participate in micro-tasking, irrespective of their geographical location.
This global reach is one of the key strengths of Gems, as it democratizes access to work opportunities and enables people around the world to participate in the digital economy.
Why is Gems Important?
Gems is important because it addresses several key issues in the traditional micro-tasking industry.
By eliminating middlemen, Gems reduces costs for both workers and task requesters.
It also reduces redundancy in task verification, by employing a unique consensus mechanism that ensures tasks are accurately completed.
Moreover, Gems ensures fair compensation for workers, a key issue in the traditional micro-tasking industry.
How does Gems Work?
Gems operates by creating a decentralized marketplace for micro-tasks.
Task requesters post tasks on the platform and set a price in GEM tokens. Workers can then choose tasks to complete and earn GEM tokens in return.
Task verification is done through a unique consensus mechanism that reduces redundancy and ensures accurate completion of tasks.
Once tasks are verified and approved, workers are paid in GEM tokens which can be used within the platform or converted into other cryptocurrencies.