Bounties: The future of work

What are Bounties?

“Bounties” are defined as individual tasks put forth by a bountier that is open to anyone from anywhere. In exchange for completing the bounty, the “Bounty hunter” will get rewarded with what was promised by the bountier. It’s a clean, instant and transparent transaction between parties.

Bounties on the blockchain are a lot different in the way they are created and how the transaction is processed and completed. Bounties on the blockchain allow for the use of cryptocurrency to be used. This allows the transaction to be cleared within seconds, it’s cheaper than international deposits.

Why Bounties?

In order to compete against web 2.0 companies we need to use the blockchain to its max ability. This is where bounties come in, they have the native ability to transact value across the world while allowing people to complete small jobs at the comfort of their home. Web2 companies can’t hope to achieve this without huge amounts of work and resources on their end in order to revamp their entire architecture.

Bounties allow for the creator of the bounties to get the benefit of the doubt. Meaning that the person who does the job the best will get the reward, their might be 50 submissions given in and the best will be selected. The others won’t be compensated but the option is open to bounty creators to compensate the bounty hunters with a small reward.

The benefits of Bounties:

• Cheaper access to services since it’s a global platform and requires no intermediaries to work.

• All bounties are stored publicly on the blockchain and developers can access that information easily.

• Low cost, fast transactions.

• Better access to small, easy tasks.

Bounties will allow TradePort to scale well over time since majority of the processing will be done without the use of centralized servers and proxy websites can get data directly from the blockchain instead of from our website. This means no downtime and less load on our servers.