Dock is a platform that allows businesses and other organizations to create tamper-proof documents with Verifiable Credentials (VC). Essentially, it allows any organization to create documents with verifiable proof of authenticity that cannot be replicated or edited in any way.

DOCK is the platform’s native cryptocurrency. It is a utility token that is needed by stakeholders for network participation.

What are Dock’s key features and how does it work?

There are seven key stakeholders that operate within and are crucial to the Dock ecosystem. These are:

• Identity Owners These are users who have on-chain DID (Decentralized Identity).
• Issuers Comprise those who issue credentials via the Dock network. This can include any organization, developer, or other entity that provides credentials. Issuers sign credentials with a DID that can be verified at a later stage by verifiers.
• Holders Entities that receive credentials. Presentations can be created from the credentials. 
• Verifiers Entities that verify the authenticity of documentation produced by the holders.
• Validators Those who run a full node are validators. They produce blocks and finalize them.
• The Governing Council Elected members who form a key part of the Dock platform governance. Council members can submit and vote on proposals.
• Revocation Authorities Such stakeholders are allowed to revoke issued credentials.

What can DOCK be used for?

As mentioned, the DOCK token is used for utility purposes. As part of this it has three main functions; transactions on the Dock Blockchain, validating and staking, and network governance. All transactions on the network require DOCK as a gas fee. For example, DOCK is needed for creating and updating DIDs, as well as adding key DIDs. Validators who help to secure the network are given DOCK tokens in return for their work. Dock tokens are also required in the selection of validators. Validators must stake DOCK to be selected and take part in the Proof-of-Stake mechanism.

DOCK token holders can vote on proposals by the Dock council members or holders of the token for network changes and upgrades. Proposals can include determining base operation fees or block reward distribution. The weight of a vote depends on the number of DOCK tokens locked on the network and the lock duration. 

Worth noting that to submit a proposal a user must lock 1,000 DOCK tokens. This is to ensure minimal spam or non-serious suggestions.

Where can you buy DOCK?

DOCK is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, Gate.io, and KuCoin. The price of DOCK will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for DOCK market prices, please view the price charts on this page.