In the era of digital markets, the challenge for consumers is discerning
quality amidst information asymmetry. While traditional markets use brand
mechanisms to address this issue, transferring such systems to internet-based
P2P markets, where misleading practices like fake ratings are rampant, remains
challenging. Current internet platforms strive to counter this through
verification algorithms, but these efforts find themselves in a continuous
tug-of-war with counterfeit actions.
Exploiting the transparency, immutability, and traceability of blockchain
technology, this paper introduces a robust reputation voting system grounded in
it. Unlike existing blockchain-based reputation systems, our model harnesses an
intrinsically economically incentivized approach to bolster agent integrity. We
optimize this model to mirror real-world user behavior, preserving the
reputation system's foundational sustainability. Through Monte-Carlo
simulations, using both uniform and power-law distributions enabled by an
innovative inverse transform method, we traverse a broad parameter landscape,
replicating real-world complexity. The findings underscore the promise of a
sustainable, transparent, and formidable reputation mechanism. Given its
structure, our framework can potentially function as a universal, sustainable
oracle for offchain-onchain bridging, aiding entities in perpetually
cultivating their reputation. Future integration with technologies like Ring
Signature and Zero Knowledge Proof could amplify the system's privacy facets,
rendering it particularly influential in the ever-evolving digital domain.Comment: 36 pages,13 figure