Building Projects with Starbase
Those of you who are familiar Bitcoin, Ethereum and similar blockchain based cryptocurrencies are aware of the dormant potential they have. Transactions can be made instantly and with much lower rates than standard banks and forex exchanges.
There has also recently been a boom in the crowdfunding and crowdsourcing industry. People are drawn to the possibility of hiring globally, and at rates they can set or demand. Freelancer, Kickstarter and Upwork are just some examples.
Starbase is marrying these two fields, while simultaneously trying to boost the factors that make them so popular.
How Starbase works in a nutshell: Starbase uses “Starbase Tokens” which are consumable, rewardable and inflationary. These tokens can be trader for any other cryptocurrency and is based on the ERC20 standard, same as Ethereum.
Users sign up and purchase Tokens. They are then free to either post projects (as “Core Teams”) that require croudfunding or croudsourcing. Other users can then either invest in these projects or provide a service in the form of work (as “Supporters”). As the project becomes successful the Tokens value increases, and at some point is paid back out to the contributors, or as milestones are met.
Contributors are then free to exchange their tokens on the cryptocurrency exchange of their choice! Or, keep them to start projects of their own one day. This way Starbase is aiming to create an ongoing, global community of innovators who supports each other.
The merits of Starbase
- The global nature of cryptocurrencies and blockchain technology make it an even more attractive option for those of us trying to avoid prohibitively high exchange rates.
- Starbase also aims to act as a “consultant” for “Core Teams”, providing guidance from Early purchase to the completion of their projects.
- Shared incentive is another trademark of Starbase. Because “Supporters” Token’s increase with value as the project is successful, they have an actual stake in the success of the project and not merely working for ends meat.
Starbase is planning to launch in the Q4 of 2017. In preparation for the event, and if you are excited to get started. Head over to this page and see how you can prepare for the initial crowdsale before the launch.