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CRYPTO REVIEW: Three Protocol ($THREE)

CRYPTO REVIEW: Three Protocol ($THREE)

Written By Akshat Thakur

Author: Akshat Thakur

Written On: Sun, 06 Oct 2024 20:18:33 GMT

๐ˆ๐ง๐ญ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐จ๐ง:

โ€ข Existing digital payment systems (Web 2.0) struggle with significant limitations because they depend heavily on traditional banking infrastructures and extensive verification processes.

โ€ข Consequently, nearly 30% of the global populaceโ€”particularly those without banking access or adequate identificationโ€”cannot participate in the digital economy.

โ€ข Therefore, we invite you to explore Three Protocol and discover its innovative solutions that are transforming the financial landscape.

๐”๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐๐ข๐ง๐  Three ๐๐ซ๐จ๐ญ๐จ๐œ๐จ๐ฅ:

โ€ข To promote financial inclusion, Three Protocol decentralizes payment solutions for unbanked individuals, those rejected by traditional banking, and users who value privacy while wishing to bypass restrictive regulations.

โ€ข By employing Zero Knowledge Proofs, the protocol effectively establishes pseudonymous on-chain identities, which ensures privacy while facilitating transactions.

๐“๐ก๐ซ๐ž๐ž ๐๐ซ๐จ๐ญ๐จ๐œ๐จ๐ฅโ€™๐ฌ ๐•๐ข๐ฌ๐ข๐จ๐ง:

โ€ข Notably, the Three Protocol empowers individuals lacking access to standard banking systems (the unbanked) and supports those previously excluded from these services (the debanked).

โ€ข Furthermore, its vision focuses on redefining the financial ecosystem to align with principles of equality, autonomy, and community governance.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐š๐ง๐ ๐’๐ž๐œ๐ฎ๐ซ๐ข๐ญ๐ฒ ๐…๐ž๐š๐ญ๐ฎ๐ซ๐ž๐ฌ:

โ€ข Tri-ZKP Proof: This feature guarantees secure transaction verification while preserving user privacy.

โ€ข Tri-Proof Smart Contracts: By streamlining operations, these contracts foster transparency and eliminate unnecessary intermediaries.

โ€ข DAIO Arbitration: In this way, the protocol decentralizes conflict resolution to uphold fairness.

โ€ข Time-bound Responses: Additionally, this ensures continuous transaction flow within specified time limits.

โ€ข Automated Fee Distribution: Ultimately, it minimizes errors and fraud through automatic fee management.

๐ƒ๐€๐Ž-๐๐š๐ฌ๐ž๐ ๐ƒ๐ข๐ฌ๐ฉ๐ฎ๐ญ๐ž ๐‘๐ž๐ฌ๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง:

โ€ข Overview: The Three Protocol utilizes a tri-ZKP system for transparent and trustless dispute resolution. Consequently, smart contracts and automated processes ensure privacy and fairness.

โ€ข Decision Tree Breakdown:

  • If the Buyer Doesnโ€™t Respond in Time: The seller and DAIO ZKP sign off, leading to the buyer forfeiting the dispute fee, which is given to the seller.
  • If the Buyer is Satisfied: Both parties sign off on the ZKP, and they return the dispute fees. Thus, the platform processes the payment with fees deducted.
  • If the Buyer is Dissatisfied: The buyer can make a counteroffer or escalate the issue to the DAIO if needed. In this case, the DAIO will then handle the dispute resolution based on its decision.

๐“๐จ๐ค๐ž๐ง๐จ๐ฆ๐ข๐œ๐ฌ:

  • Price: $0.1115
  • Market Cap: $9.4 million
  • Circulating Supply: 85 million
  • Total Supply: 100 million

๐‚๐จ๐ง๐œ๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง:

In summary, the $THREE Protocol offers a transformative approach to online marketplaces by tackling the limitations of traditional systems that rely on national identification and KYC processes.

By utilizing decentralized technologies and Zero-Knowledge Proofs, it promotes inclusivity, allowing unbanked and privacy-conscious individuals to participate in the digital economy.

Moreover, the integration of advanced dispute resolution mechanisms and automated processes enhances transparency, reduces fraud, and streamlines transactions, marking a significant step forward in the evolution of e-commerce.

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