Gitcoin ICO: Grow Open Source Software For Tips & Rewards?
Existing incentive open software are faced with various challenges. Some of them include the fact that open source software developers create a lot of economic value, however, this value is not well incentivized. The repo maintainer is faced with the challenge of taming while the contributor has the monetization challenge. The job hunter, on the other hand, is faced with the prioritization problem.
What Is Gitcoin?
The solution to these challenges is Gitcoin, which is a decentralized app for value creation and value capture. Gitcoin was created by the community found in Boulder Colorado that thrives on the tech scene. The goal of the project is to combine the give first mantra of the community at Boulder with capitalistic incentives to come up with great software. The platform allows developers, Repo maintainers, and financiers to find each other allowing for the growth of an open source software.
How Gitcoin Grow Open Source Software For Tips & Rewards Works
Gitcoin is built upon the Ethereum network and uses the solidity smart contract programming language. The Ethereum network provides opportunities that allow the actors of the platform to align their incentives. By the programming of stakeholder’s rights into the smart contracts, actors are incentivized to give value. Additionally, the edge cases are handled without the need to involve legacy legal enforcement methods.
Resolves Fund Issues
If you fund a feature, the users of the community can resolve a bug or a security issue that you care about.
The platform rewards contributors who add value to the repository with a tip
Users get to see interesting projects they can work on and also communicate with interesting people they can work with. Users also get to try projects before they can commit to accomplishing them.
Gitcoin works everywhere on Github.
Users can use Gitcoin by enabling the tools that meet their needs. Some of the tools include:
Basic Tools Include:
- Issue explorer, which is a searchable index of all the funded work that is available on the system
- Fund work allows users to create an issue and offer a bounty to allow users to work on it.
- The Tips tool allows the bounty developer to leave a tip to thank those who work on the platform
Advanced Tools Include:
- Gitcoinbot that is a chat interface used on Github
- Chrome browser extension allows users to browse and work on Gitcoin on Githhub
- The community tools allow for mentorship and friendship among the members of the Gitcoin community
- Slack community tool allows community members to discuss, answer questions or simply to communicate to each other.
- Gitter community tool although less active than slack community still allows users to ask questions and get answers.
Tools Used To Build Gitcoin Include
- Github repos where the development of Gitcoin happens
- API is the simple HTTPS API that allows users to access data without the need to run their own nodes.
Tools In Alpha Ready To Be Tested Include
- The profile tool which users can use to browse the work they have done and get to know about their reputation on the network. Others include a leaderboard, faucet, code sponsor, bounties universe among others.
The platform also hopes to come up with other tools soon including iOS app, cold outreach email generator, mentorship matcher among others.