Referral & Conversion Token
Smart contract and browser minted
Referral & Conversion Tokens
The referral token is part of the core methodology of the Attrace proposition. With this token, the actor obtains the right to promote a tokenized asset of a seller, and will get rewarded with the bounty once successful.
The (primary) referral token gives the right to promote an asset. This token is minted by a smart contract, on request by the promoter. Note that this smart contract can be on different blockchains, like for instance on Ethereum or BSC (Binance Smart Chain).
A real life example would be when a promoter wants to promote a NFT that is listed on the referral marketplace.
The (secondary) conversion token is a token that is minted in the browser of the buyer. When the buyer arrives at the redirect page created by the promoter, it needs to sign the token with his/her crypto wallet. This token is stored by Verifier Nodes.
In order to guarantee privacy, there is a mining algorithm added to the (secondary) conversion token. The data in this conversion token is not of a high value, but the hash should be difficult and costly enough for the Verifier Nodes to only process the mining algorithm for the purpose of verifying conversions.