Dock (DOCK) is a fascinating startup that aims to offer individuals more control over their digital credentials and professional accomplishments. It’s a decentralized exchange protocol that makes use of blockchain technology to establish a safe and transparent credential-sharing environment. Consider it a decentralized version of Linkedin where the user has complete control over their data.
Based on multiple technical quantitative indicators, the current forecast for dock.io in 2022 is Bearish. This could be an indication that DOCK is a bad buy in 2022. However, it’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy this cryptocurrency or not. Consider this Dock price prediction as a guide to understand the price movements of the coin but not as an investment suggestion.
Today’s Dock price today is $0.021996 with a 24-hour trading volume of $1,662,068. Dock is up 6.53% in the last 24 hours. The current CoinMarketCap ranking is #628, with a live market cap of $17,335,991. It has a circulating supply of 788,149,900 DOCK coins and a max. supply of 1,000,000,000 DOCK coins.
Read also: Dock’s mainnet is scheduled to go live on September 30th
How does Dock work?
On the Dock platform, data sharing is a straightforward notion. Users may submit any data they want to the platform and control who has access to it.
They may connect with organizations or apps on the platform, and each of these connections is recorded on the Ethereum blockchain via a smart contract. This is a significant distinction from current centralized systems, which allow users to decide who sees their data but not the platform’s access to it.
Users may publish their data in a public, unencrypted fashion with Dock, allowing everyone on the platform to access it. This is information that the user does not deem sensitive, such as their name, schooling, employment history, and so on. It’s critical to understand that once data is made public, it stays public indefinitely. There is no way to keep the information out of the public eye.
Users can also encrypt their data in order to keep it secret. Dock’s data is encrypted by default. Only the user or an application with access to the data may decode it once it has been encrypted. This ensures that the user retains complete control over their data.
According to the whitepaper, the data can be in a number of formats, and the user community will be free to pick which formats to utilize. Some opponents have questioned how effective this would work and have recommended that data formats should be standardized. The CV and job history data formats have been established by the platform.
Dock’s approach is called data format signaling, and it involves applications communicating which data formats they will accept. The team argues that natural market equilibrium can lead to agreement on acceptable data formats.
Technicalities of Dock
Dock is based on the Ethereum blockchain, and with Ethereum’s current network congestion, there’s no way for Dock to save and recover resume data or any of the other data it’s designed to keep.
As a result, the Dock team is relying on the IPLD standard, which was designed to aid the open-source peer-to-peer Interplanetary File System (IPFS) in performing content-addressable data sharing.
The IPFS network is comparable to a torrent network, however, instead of torrent files, it stores hashed files. These hashed files are kept in a collection of IPFS nodes, and when a user wants to access a file, they do so by contacting the blockchain’s associated hash. The blockchain’s overhead is reduced since it no longer has to keep the data itself, only the accompanying hash.
While the platform is now dedicated to the Ethereum blockchain, the team has said that if the need arises, they would explore developing their own native, independent blockchain.
Dock Application Incentives
Through the DOCK tokens, the Dock system has created incentives for programs to share data with one another. Essentially, if an application wants to obtain data from another program, it must pay for it.
Because data exchange is forced, this architecture also prohibits programs from hoarding data. There is no mechanism for one program to prohibit another from paying for the data it owns. Only the user has the ability to define restrictions that prevent data from being shared with others. Dock works to prevent data hoarding on the platform in this way.
Dock User Incentives
The Dock platform, unlike virtually every other decentralized network with currencies, does not reward users for sharing their data. This was done on purpose and with intention. The Dock team wants individuals to realize that their data is significantly more valuable than they think and that any payment for their personal data is insufficient. Instead, they encourage people to consider their data as a valuable asset in and of itself.
Another reason to avoid incentivizing users for data collection is to avoid a flood of people spamming the platform with fraudulent information in order to obtain incentives. Dock recognizes that this is the quickest way to kill the platform, therefore they’re doing all they can to avoid it.
Furthermore, the lack of incentives makes things clearer for consumers, who will not have to worry about micro-transactions and payments. All they have to worry about is keeping their personal information up to date.
Instead of charging a tiny fee for useful data, Dock gives consumers total control over their data and convenience. Users can simply regulate who has access to their data by storing it all in one place, and they can maintain it without having to remember all of the numerous sites where they have a profile. This ensures that data is always up to date across the web, avoiding situations where users are seeing outdated information.
Dock Price History
DOCK is a Dock network native utility token that is intended to be used to create and maintain universal, individually-owned, tamper-proof credentials. Dock’s utility in many industries, like as healthcare, education, and supply chain management, is demonstrated by blockchain technology, which assures that credentials are safe and instantaneously verifiable. Dock’s mainnet became life in September of 2020.
Developers may use Dock’s tools to create customized apps that can provide credentials. There’s also Dock’s sample program, Certs, which you can check out on their website, as well as a W3C credential verification. Dock was also given a grant by the W3C early on, which increased its dependability.
Dock employed the Proof-of-Authority (PoA) consensus protocol in the initial phase following the mainnet’s debut when verification was chosen by the Dock Association, a governing body supervising the network’s growth. This will change in July 2021, when the project will migrate to the next phase, replacing PoA with PoS — Proof-of-Stake. This is excellent news for DOCK token holders because the improvements will let users to do more with their tokens, such as vote for governing Council members or run a validating node. The upgrade will enhance the present incentive system, in which tokens serve three purposes: governance, staking and validating, and supporting network operations.
Dock Technical Analysis
Dock price analysis reveals a relatively upbeat approach today; the price has gained most of its lost value. In the last few days, the cost of DOCK has received much positive attention and has increased to a significant degree. On July 15, 2022, the price suddenly increased from $0.0199 to $0.0211. However, the price started to gain further positive momentum on the same day and regained a value of as much as $0.0216. On July 16, 2022, the price saw massive highs and reached an all-day high of $0.0221. However, the current price of the cryptocurrency remains at around $0.0214, with a good market cap.
Dock price analysis reveals the market volatility to follow an uncertain opening movement, which causes the DOCK prices to become more susceptible to volatile change. As a result, the Bollinger’s band’s upper limit is $0.0216, acting as the strongest resistance for DOCK. Conversely, the lower limit of the Bollinger’s band is at $0.014, representing the strongest support of DOCK.
The DOCK/USD crosses over the Moving Average curve indicating a bullish movement in the market. Furthermore, due to the recent breakout, the price appears to move upwards with a strong possibility of retracing the resistance. Dock price analysis reveals the Relative Strength Index (RSI) score to be 62, which falls in the upper-neutral region. The RSI score follows an upward movement in the overvaluation region, signifying future inflation. The DOCK/USD price has found a stable place within the market and has anchored itself there. The dominance of buying activity causes the RSI to increase.
Dock price analysis concludes that the cryptocurrency packs massive potential for positive movement; however, for now, the market is stuck and expected to break, which might cause hindrances in the way of bulls.
Dock Price Predictions by Authority Sites
Tech News Leader
The likelihood that Dock’s price will rise to $0.74 in 10 years is much higher. Within the next 8 to 10 years, the Value of 1 Dock may exceed a minimum price of $0.72 and a maximum price of $0.91.
On Walletinvestor.com, a large range of digital currencies, including Dock, have future values predicted using technical analysis. DOCK may be a poor, high-risk alternative for investors seeking virtual currencies with a strong return after a year. The dock price will be $0.0216 on July 16, 2022, but the value of your present investment may decrease afterward.
By July 21, 2022, the value of Dock is expected to fall by -8.67% in the crypto market and reach $ 0.020769, according to their most recent price estimate. Their technical indications indicate that the current mood is Neutral, while the Fear & Greed Index reading is 21. (Extreme Fear). Dock saw 10.24% price volatility over the previous 30 days while recording 18 of 30 or 60% green days. It’s an excellent moment to purchase dock.io right now, according to their DOCK prediction.
Dock Price Prediction 2022
The price of Dock is anticipated to have a minimum value of $0.020 in 2022. With an average trade price of $0.021, the DOCK price may have a maximum value of $0.023.
Dock Price Prediction 2023
In 2023, the price of Dock is anticipated to have a minimum price of $0.031. 2023 will see an average price of $0.032 for The Dock, with a maximum price level of $0.036.
Dock Price Prediction 2024
The price of Dock is anticipated to have a minimum value of $0.044 in 2024. With an average selling price of $0.046, the DOCK price may go as high as $0.054.
Dock Price Prediction 2025
In 2025, the cost of 1 Dock is predicted to have a minimum value of $0.064. With an average price of $0.066 throughout 2025, the DOCK price can go as high as $0.078.
Dock Price Prediction 2026
In 2026, Dock prices are anticipated to go to a minimum value of $0.094. According to our research, the DOCK price might rise as high as $0.11 with an average projected price of $0.097.
Dock Price Prediction 2027
The price of Dock is anticipated to be at a minimum of $0.13 in 2027. With an average trading value of $0.14 in USD, the Dock price value may go as high as $0.16.
Dock Price Prediction 2028
In 2028, the price of Dock is anticipated to have a minimum value of at least $0.20. With an average trading price of $0.21 until 2028, the Dock price may go as high as $0.23.
Dock Price Prediction 2029
The price of Dock is anticipated to reach a minimum of $0.30 in 2029. The DOCK pricing ranges from $0.31 to $0.35, with $0.35 being the maximum price and $0.31 being the average forecast price.
Dock Price Prediction 2030
In 2030, the price of Dock is anticipated to be at least $0.43. With an average selling price of $0.45 throughout the course of 2030, The Dock’s price may go as high as $0.53.
Dock Price Prediction 2031
In 2031, dock prices are predicted to go as low as $0.59. Our research indicates that the DOCK price might rise as high as $0.75, with an average prediction price of $0.62.
Dock Price Prediction by Industry Influencers
The Stakin(g) Podcast Sits Down With Dock Network – YouTube
Presented by Stakin, this podcast is perfect for anyone interested in the Proof-of-Stake blockchain space or trying to further educate themselves on the different blockchain networks out there. For more information on Dock Network, have a look at the following links: 🌐 https://www.dock.io/ 🐦 https://twitter.com/docknetwork
Dock has a compelling long-term vision for the structure of the user data market, which is set to explode now that blockchain technology is accessible. The platform’s success or failure will be determined by how quickly it is able to recruit key partners and grow.
If you’re thinking about investing in digital currencies, Dock is a profitable investment. A long-term currency investment might prove to be quite profitable. If all goes well, it’s expected to reach an all-time high in the following several years. However, it is always highly advised to seek professional advice and do your own research before investing.
Dock offers a straightforward method for creating, managing, and presenting blockchain-instantly verified digital credentials. Dock is a good investment, according to our Dock price forecast if you’re considering investing in digital currencies. The return on a long-term currency investment might be pretty high. However, some analysts beg to differ, and might not turn out as good as expected. It is anticipated to reach a record level in the upcoming few years, assuming all goes according to plan. Before making an investment, it is always strongly encouraged to consult a specialist and conduct your own research.