Project Development: Updates on the Upcoming Dether App

With a new version of Dether coming soon to testnet, here are the features our development team is working on:

New Zoning System for the New Dether: Using geohash

Why does Dether need a zoning system? Assuring zone-exclusivity to a crypto seller provides minimum service assurance, while needing to stake DTH in order to “have skin in the game” can reassure buyers that a seller is someone who truly intends to sell crypto. Plus, we need a reliable on-chain way to verify a potential seller’s location, which can be done with the zoning system. But it is possible to zone the entitreity of the globe, using as little gas as possible? Absolutely, with geohash. With a gas price at 5gwei, it only costs 1,32139 ETH to map the entire world this way!

Zone out: owning land on Ethereum

The Harberger tax was proposed by economist Arnold Harberger in 1965. With the Harberger tax, property owners would self-assess the value of their property, and pay taxes on said valuation. With this system, we expect to achieve resources allocation efficiency, as opposed to just a property land system. Zones will go to people who could get the most out of it, and not to people wanting to participate in an auction just for speculation purposes. With this, we add the maximum value to the system to the end user. The end-user looking at the map would only see zones with sellers who have who have staked DTH and are willing to be the most serious traders.

To own a zone that’s free, you’ll need to stake the licensing fees (the minimum being 100 DTH) or add more to discourage other people from entering in an auction for the zone. You can always release a zone and get your DTH back (minus the taxes).

As we prepare to release the new version of the app, be sure to stay tuned for information about beta testing and a Dether bug bounty.