Token-curated registries: blockchain-based mechanism to curate lists
A token-curated registry (TCR) is, as the name suggests, a curated registry of items that satisfy some criteria. For example, in a token-curated registry of dog-friendly hair saloons, the group is “hair salons“ and the criteria is „dog-friendly“. The way these token-curated registries work is that all members of a token-curated registry are incentivized to create the best list possible. The members are candidates (those that want to be on the list), members (those that are on the list), consumers (those that use the list), token holders (those that decide by voting whether a member stays a member and whether a candidate becomes a member). As mentioned, those participants are incentivized; members are candidates are fined if they are fraudulent (e.g. when they applied to be on the list but are not dog-friendly anymore), and token holders are rewarded when they maintain the list (e.g. when they background-check an applicant to ensure if it is really dog-friendly).