The DOCK token is a cryptocurrency or digital currency designed to support voting and governance for the Dock project. It uses cryptography to secure and verify transactions. DOCK tokens are ERC-20 tokens built on the Ethereum network, and are blockchain assets that have value, and can be sent and received, like Bitcoin, Ethereum, or any other cryptocurrency.
DOCK tokens are critical to the adoption and future success of Dock, and can be used in the following ways:
- Voting - token holders are able to introduce new proposals and vote on the future development roadmap of the protocol. This ensures that the future updates to Dock fairly represent participants in the ecosystem.
- Accessing data - When a user imports their Dock account to a platform, DOCK is used by the platform to access that data.
- Sharing data - DOCK is rewarded to applications that share user's data with other applications via the protocol.
- Ensuring quality data - DOCK tokens are only rewarded when other applications accept data, creating a measure of quality across applications.