Indorse: A Professional Network On The Blockchain

6 min readAug 12, 2017

Indorse is building the Nextgen professional network.

The Company is holding a crowdsale between 8th August 2017 and 7th September 2017. In this article, I will provide a short overview of Indorse It's platform & their ongoing ICO.

What is Indorse?

Indorse is a professional network built on ethereum blockchain. Indorse platform offers users the ability to manage and own their private data which include their skills, experiences, education, qualifications etc.

Since inception, Social networking has grown tremendously over the last couple of years. Through social networks, Users have been able to stay connected with their peers and other members of the society. They can also share information across millions of users. This is evident in the fact that social networks like Facebook, Twitter and snapchat etc, has over 150M active users and counting. This goes to show how important social networking is and how it has transformed our lives.

Despite the successes of Social networks, they have all failed in other way or another. For instance, Snapchat has had a lacklustre revenue generation since their IPO even with more 100M active users. Facebook and Twitter on the other hand, has all suffered from several attacks where the data of users are stolen. In some cases, users get locked out from their account which they spent several years building up a reputable profile. All these and many more issues are factors hampering the growth of the social and professional networking ecosystem. This is an area where Indorse platform excels.

Unlike other social network where the data of users are controlled by centralised entities, Indorse makes it possible for users to own their personal data.

As a fully decentralized network, Indorse offers users a unique platform where they can showcase their skills and get endorsed by other users.

Companies looking to hire and freelance users looking to get hired can take advantage of Indorse platform to connect and create opportunities. This is made possible since users can showcase their skills and experiences on the platform.

The Indorse Core: Featuring Status.im, and IPFS.

The Indorse platform is powered by several technologies. These technologies are what makes indorse unique from other existing platforms.

Through the use of IPFS, Indorse platform will feature a distributed and decentralized data system of users which would make the Indorse platform faster, safer, and more open. Most of the content published on Indorse platform including documents, claims, updates to profiles
and indorsements are going to be stored on IPFS’s decentralized storage container.

Indorse will also utilize the powerful features of Status.im (An open source instant messaging platform on ethereum) to provide an interface where users of the Indorse platform can securely interact with other users. As a decentralized instant message protocol, The messages shared between specific users are safe from prying eyes.

The Indorse platform also integrate other technologies like Spectrum, Truffle, Attores’s CI and uPort which is a self-sovereign identity system. However, for the purpose of this article, I won’t be talking about them. You can read about them in the Indorse whitepaper.

Indorse Score And Rewards:

One of the most interesting things that makes Indorse platform standout from others is that, It incentivizes users for the participations in the platform.

These incentives are equally distributed to all users using the ever fair and transparent Blockchain technology. Indorse will feature an accounting token called "Indorse Score" — (STR tokens). Indorse STR tokens are tokens used for encouraging constructive participation in the Indorse platform.

Indorse Score tokens are required to post updates to the
member profile, or indorse and flag claims. Through the Indorse Score reward system, Users can monetize their activities on the platform. The tokens are not transferable between members and can only be acquired through a quality participation in the platform— This includes building and maintaining a reputable profile while being a quality indorser of other users as well. These rewards can be converted to IND tokens (more details on this below) and includes a 3 months vesting period— This is to ensure that the reward system is not abused.

Indorse ICO information:

Indorse is hosting an initial coin
offering (ICO) where Indorse Platform
native tokens "IND" will be offered for sale to early investors. The funds raised during the ICO will be used to fund the development of Indorse platform.

Indorse had a Pre-Sale & Private Placements where 22,995,270 IND tokens were sold.

A total of 170,622,047 will be ever be created. 35% ( 31,603,785 IND) of the total supply will be offered for sale to investors according to the following price schedule:

1000 IND = 1 ETH

Unsold IND tokens after the token sale will be time-locked in an ethereum smart contract. After which It would be offered for sale at a future indorse token sale.

The Indorse ICO is underway and over 18,396.22 ETH has been raised. The ICO is LIVE and is scheduled to conclude on 7th September 2017 or until the maximum funding cap of 50,000 ETH is reached.

To participate in the Indorse token sale, Investors are required to send their contribution to the Indorse contract address: indorse.eth

Verify the Contract here: https://etherscan.io/address/indorse.eth

Note : Do not Send ETH from an Exchange wallet. Investors are advised to contribute using an ERC20-compliant wallet— (ImToken, MyEtherWallet, MetaMask).

Here’s a guide containing details on how to participate in Indorse ICO: https://medium.com/joinindorse/how-to-participate-in-indorse-token-sale-8ddb50003b4f

The funds raised during the Indorse token sale will be allocated according to the following schedule:

Meet The Indorse Team:

The Team spearheading this movement of professional network on the blockchain is a group of professionals with several years combined experience in the blockchain space.