nRide web3 ride-hailing

nRide launches ICS Testnet on Cosmos Network

To enhance our infrastructure network, nRide will launch as #4 Consumer Chain, utilizing the Cosmos HUB Shared Security to run all smart contracts

The ride-hailing industry has witnessed unprecedented growth over the past decade, yet it’s been marred by high fees, lack of transparency, and pressing data privacy concerns. Traditional platforms operate within closed ecosystems, isolating user bases and hindering new entrants from competing with established players. To address these shortcomings, nride is pioneering a revolutionary P2P ride-hailing protocol.

The nride Vision: Transforming Ride-Hailing

nride’s mission is to directly connect riders and drivers, eliminating intermediaries and fostering a more equitable, transparent, and cost-effective platform. By doing so, we:

  • Reduce Fees: Minimize costs for both riders and drivers.
  • Increase Transparency: Ensure all interactions are open and trustworthy.
  • Unify User Bases: Provide a standardized approach for ride-hailing apps to interconnect, promoting a more open and competitive market.

The nride Ecosystem: Key Components

Our open-source software stack is comprised of:

  1. Messaging Protocol: Enables secure, direct communication between riders and drivers, safeguarding shared information.
  2. Escrow Mechanism: Holds funds in escrow until pickups are completed or canceled, ensuring both parties fulfill their commitments.
  3. Driver Registry: A shared database of drivers’ information, utilized by all nride-compatible applications.

Empowering the nride Platform: The NRIDE Token

Powered by the NRIDE token, our platform offers:

  • Dual Utility: Provides access to nride’s services and enables participation in the decentralized governance mechanism.
  • Governance through nRide DAO: A community-driven approach ensuring democratic governance, free from central authority control. This vibrant token economy invites builders, users, drivers, entrepreneurs, and stakeholders to contribute to the project’s growth and direction.

The Challenge: Balancing Security, Scalability, and User Experience

As a P2P ride-hailing platform, we face the challenge of ensuring the security of user data and transactions, scaling to meet growing demand, and maintaining a seamless user experience. Traditional blockchain solutions often force a compromise between these critical aspects.

Enter Cosmos Hub’s Interchain Security (ICS)

Cosmos Hub’s ICS offers a groundbreaking solution that aligns with our goals:

  • Fortified Security: Leveraging the collective security of the Cosmos Hub’s validator set to protect user data and transactions.
  • Scalability for Growth: Efficiently handling increased user bases and transaction volumes without sacrificing security or user experience.
  • Interoperability for a Connected Future: Seamlessly integrating with other ICS-enabled platforms, paving the way for innovative mobility solutions and partnerships.

Why ICS Drives nride Forward

Several key factors made ICS the ideal choice for our P2P ride-hailing app suite:

  • Proven Security Heritage: Cosmos Hub’s established track record in security was pivotal in our decision.
  • Community-Driven Development: The Cosmos ecosystem’s collaborative nature ensures we’re always supported and informed.
  • Autonomy for Custom Solutions: ICS allows us to maintain the flexibility needed to address the unique challenges of our P2P model.

What This Means for Our Users

By launching our appchain on Cosmos Hub’s ICS, our users can expect:

  • Enhanced Safety Features: Robust security measures for a trusted ride-hailing experience.
  • Faster and More Efficient Rides: Scalable technology for quicker matches and lower fees.
  • A Voice in Our Community: Transparent governance and reward structures that empower user participation.

The integration of Cosmos Hub’s Interchain Security into our P2P ride-hailing app suite marks a significant milestone for nride. By choosing ICS, we’re not only securing our users’ experiences but also contributing to the evolution of a more connected, efficient, and community-driven mobility ecosystem. Join us on this journey as we redefine the ride-hailing landscape with nride.

Stay Tuned:

  • Follow us for the latest updates on the nride appchain and its ICS integration.
  • Explore the Cosmos ecosystem to discover the vast potential of interoperable blockchain solutions.
  • Engage with our community to share your thoughts on the future of mobility and blockchain.

Migration Contract:

With the new token standard, its possible to transition into a staking rewarded distribution model. To migrate token in circulations, a transmuter contract will be implemented on Osmosis Chain. During this process, the existing DAO Treasury will be split 50/50 into Community Pool Treasury (controlled by on-chain governance from stakers) and Staking Rewards (non-circulating at Chain Spawn)
The Foundation Allocation could also be splitted 50/50 into an Airdrop Allocation for ATOM and OSMO stakers

Description: This chart represents the adapted token distribution Split the DAO Treasury into Community Pool and non-circulating future staking rewards. Splitting the Foundation Allocation into a founders multisig and an Airdrop Allocation for Atom & Osmo Stakers Transmuter Contract: To ensure the current circulating supply can be transitioned into the new token representation, this allocation will be locke into the transumuter contract on Osmosis chain. See for further details: https://forum.osmosis.zone/t/upload-transmuter-v2-contract-alloyed-assets/437

For more information, check the Github Repository:

https://github.com/rattadan/nRide_testnet

Inscription is done on Cosmos Forge:

https://forge.cosmos.network/chain/17