Because Merit is an invite-only community, it’s rate of growth is controlled, which promotes safety and peace-of-mind for all members. Each new member of the community has to have been invited and confirmed through an existing member of the community.
There are a number of technical and community benefits associated with growing in this controlled way. The core principle driving this approach is that Merit is in this for the long-term. This long-term vision is predicated on building an enduring foundation that allows the groundbreaking technology to live on forever.
Safety and security is paramount in any type of financial system, and digital currencies are no exception. Because every member has to have been explicitly invited and confirmed by an existing member of the community, bad actors will have a much harder time entering the network.
Further, if a bad actor is discovered on the Merit network, their invitation to the network is transparent to all other members of the community. This opens the door to powerful potential features that promote additional self-regulation of the network in the future.
Merit aims to evolve the state-of-the-art in blockchain technolnogy. To this end, we’ve created a lot of firsts. Merit is the world’s first invite-only blockchain. It features the world’s first decentralized vaulting protocol. The first growth mining ecosystem. And what we hope is the world’s first decentralized account recovery through the guardian protocol.
Pioneering this much new technology necessitates being vigilant about testing, iterating, and improving the protocol. A tight-knit community that grows at a deliberate pace empowers all of us to strengthen the protocol together without the whiplash effects of unpredictable growth.
The revolution of digital currencies is powerful, fast-moving, and a little bit scary. Sadly, the rising tide lifts all boats, whether intentions are good or bad. Anyone familiar with the blockchain ecosystem has likely seen the numerous headlines of hacks, exploits, scams, and generally exploitive behavior.
One of the major drivers of susceptibility to such exploits is the rapid pace of change and evolution in these technologies. Non-expert users are left with very little time to adapt to these new technologies, and to digest their capabilities and intricacies. A controlled approach to growth gives all of us a little time to breath, learn, and ensure that we truly understand the technology we are working with.
The excitement around the cryptocurrency and blockchain ecosystem is palpable. Throughout 2017, and even in the first part of 2018, people have begun to see just how powerful blockchain can be. One of the major consequences of this excitement is high volatility in prices and trading volume for many digital currencies. Such volatility can punish long-term investors in a currency, and reward short-term traders hoping to capitalize.
A controlled-growth model that is driven by invite-only stewardship of the network helps Merit to grow sensibility, and without the intense ups-and-downs that come from unpredictability. It allows long-term investors to acquire Merit without worrying about short-term trading dynamics.
One of the most promising things about an invite-only model and controlled growth model is the prospect of a much higher-quality community. When users are thinking critically about how to use their very limited number of invites, they are more likely to consider factors such as:
It’s precisely this kind of thinking that Merit believes the blockchain ecosystem needs. These kinds of questions help us all.
If you want to join the Merit community, you must find an existing member of the community that is willing to invite you. There are numerous communication channels here on the Merit site where you can find and interact with existing members of the Merit community.
Yes. And no. Merit will always require an invite code to join the network. This is critical both for Growth Mining and building a Trust Scoring engine on the blockchain. The blockchain will always be aware of the size, impact, and growth of every member’s community.
However, the two-step approach to invitations will only be in effect for the first 6 months of Merit being live. In other words, after 6 months, users will not have to explicitly “confirm” every invitation. Instead, they will be able to simply share their invitation code with other users, and those users will be able to join immediately.
Merit is invite-only. You can apply for an invite below and get an answer from the Merit Community in less than 15 minutes.
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