Measuring trust score / implementation
While trying to find the best way of implementing our Reputation system we found that there are two main components that come into play in any context, from personal relationships to business and any other type of human interaction.
These components are what we at first called Subjective Reputation and Objective Reputation. Or how we call them now: Trust & Performance.
What is Trust?
“Trust is the firm belief in the reliability, truth, or ability of someone or something.”
Being a belief, it’s inherently subjective. We put our trust in others for different reasons:
- they make a compelling argument
- others hold them in high regard
- they have a history of speaking the truth
- we have a previously established relationship with them
- and so on.
We each have our own criteria, different from others, and we can even change it over time as we evolve and our beliefs and personal experiences change.
This makes Trust a very hard metric to measure.
Yet, how do we measure Trust?
Within Coreto, when measuring Trust, we look at how users interact with one another and with each other’s content. Let’s look at a few examples:
- You see a compelling article and you hit the Agree button; by doing so, you show your trust in the information it provides and a few Trust points go to its writer.
- You disagree with someone’s price prediction (SOOP) and hit the Disagree button; the creator of said Opinion loses a few Trust points.
- You see another Opinion that you strongly agree with; you make a Pledge of $COR to that Opinion, as well as hit that “Agree” button, boosting the Opinion creator’s Trust score!
Every user interaction on the platform dynamically influences how each user’s Trust score evolves over time. Each action has a different weight assigned, resulting in a different overall impact, reflecting the consensus of how trusted each user is by the rest of the community at any moment.
And, as our personal relationships fade over time unless we nurture them, so does the Trust score, fading over time as the community interactions lessen and move away from our content. The Trust we gained a year ago will mean less and less as fewer people appreciate and value our content.
Finding the perfect balance, and improving the trust score indicator
While being a subjective indicator, Trust is a powerful one! But how do we compare ourselves to others if everyone has their own criteria and reasons for trusting us or others?
The answer is simple:
– we don’t compare ourselves to others, just to our previous selves!
Trust is not a zero-sum game. We don’t take away from others in order to boost our own score! The trust score evolves based on our own evolution.
What this means is that it doesn’t matter if we have 100 or 100,000 people interacting with our content. What matters is how their interaction changes, how they view our content, if they continue to consider it useful, and whether they continue to view us as a trusted source of content or not.
As in real life, we only really compete with ourselves and, in the end, our success and reputation are first and foremost in our own hands.
Disclaimer
Our Trust and Performance systems are still being developed and improved. More technical details about the algorithms and math behind them will be made public over time.
Coreto is a reputation-based social platform that bridges the interaction between projects, retail Investors, traders & much more, all based on a comprehensive trust system.
