• As the web3 space evolves rapidly, the number of scams and ponzis have also seen a raise in the numbers.
• Decentralization has resulted in 'lack of regulation' which makes web3 a sea filled with sharks.
• Mostly, beginners who enter the web3 space fall prey to these traps and end up loosing their money
• Thus, this creates a bad impression upon the web3 eco-system - slowing down the global adoption.

The Solution

• ThirdScan is a decentralized regulatory framework for dapps. The dapps are evaluated based on various factors (level of decentralization, priority to user privacy, decentralized identity, distributed storage mechanisms etc.,) and ranked out of 100.
• To improve accuracy, we also have a DAO styled component where community can review dapps and the overall score is crowdsource. All the fake wallets, bots, farming wallets are eliminated with the help of Karma API (karma.brahma.fi).
• The reviewers are also incentivized with tokens.
• Malicious websites are automatically blacklisted with the help of various factors and third party sources (CryptoScamDB, Honeypot Finders etc.,). The reputation of the website is stored on-chain and can not be manipulated.