Presearch is a blockchain-based search engine project that aims to provide a decentralized alternative to mainstream search engines like Google. Presearch’s goal was to create a decentralized search engine where users could earn rewards in the form of cryptocurrency (PRE tokens) for using the search engine. This was seen as a way to incentivize users to switch from centralized search engines to a more open and community-driven alternative.
The Presearch network was founded by Colin Pape. The project was officially launched in late 2017. Colin Pape is a Canadian entrepreneur with a background in technology and startups. He played a significant role in creating and developing Presearch as a decentralized alternative to mainstream search engines, with a focus on user privacy and community involvement. Please note that while Colin Pape was a key figure in founding Presearch, the project likely involved a team of individuals working together to bring it to fruition.
The PRE token is the native cryptocurrency of the Presearch platform. Users can earn PRE tokens by performing searches, referring new users, or participating in the Presearch community. These tokens can be traded on various cryptocurrency exchanges or used within the Presearch ecosystem.
Presearch aims to involve its community in decision-making processes through a decentralized autonomous organization (DAO). This means that token holders can participate in voting and governance decisions related to the project's development and direction. Privacy is a key focus of Presearch. The project aims to give users more control over their data and search preferences, unlike some centralized search engines that are known for collecting user data for advertising purposes.
Presearch also encourages individuals to run their own search nodes, contributing to the decentralization of the search engine. These node operators would receive rewards for their contributions.
The platform's security is maintained through a network of nodes, linked to a Node Gateway. The Node Gateway acts as an intermediary, receiving requests from the server and ensuring the removal of personally identifiable information from these search requests. An essential component of this network is the node registry, responsible for managing node identities, tracking node statistics, and handling payouts. Nodes contribute various services and are rewarded with PRE tokens for their efforts in the following capacities:
- Registration: Every node must register with a Node Gateway, which subsequently routes queries to the node, provided it passes health and security checks.
- Validation: Nodes coordinate with a Node Validator to confirm that they exclusively run trusted Presearch software, guarding against potential security issues arising from malicious actors.
- Coordination: Nodes handle the processing and distribution of queries received from Node Gateways. This task might involve routing queries to multiple serving nodes and consolidating the results.
- Federation: Some nodes act as intermediaries for other data sources, including proxying their data and incorporating it into the search results.
- Serving: Specific nodes host portions of the search index used in query processing.
- Crawling: Nodes responsible for crawling websites play a vital role in expanding and enhancing the search indices.
- Indexing: Other nodes are tasked with writing federated or crawled data into search indexes, which are then served by serving nodes to fulfill user search requests.
Presearch offers a range of practical products tailored to meet real-world needs. Its search tool empowers users to explore the internet much like they would with familiar search engines such as Google or DuckDuckGo. Users have the flexibility to opt for the default Presearch engine or switch to results from a diverse array of over 100 different providers. Additionally, Presearch provides users with an incentive through its search rewards program, which allows them to earn up to 8 PRE tokens daily, at a rate of 0.1 PRE per search conducted.
For advertisers, Presearch has devised a unique mechanism called Keyword Staking. In this system, token holders can stake their PRE tokens against specific words or search terms, enabling them to display advertisements to users. When a user conducts a search, the Presearch algorithm identifies and presents the ad associated with the highest amount of PRE tokens staked for the respective search term. In instances where there are no direct matches for a long-tail keyword, the algorithm breaks down the term into individual words and selects the ad with the most PRE tokens staked against a single word from the search query. This innovative approach enhances the effectiveness of advertising on the platform.
Presearch has meticulously mapped out its developmental journey, dividing it into three distinct phases. The inaugural phase, initiated after its inception in 2017, primarily aimed to secure a product-market fit. Currently, the company is actively engaged in the second phase, which is centered on crafting a viable and enduring business model with the overarching goal of decentralizing the search experience. The culmination of this roadmap will manifest in the third phase, focused on the decentralization of governance through the establishment of a Decentralized Autonomous Organization (DAO).
The total supply of PRE tokens stands at 500 million, with half of the initial supply deliberately burned to streamline the project. The distribution of these tokens is as follows:
- Current External Wallets: 140 million
- Staked: 181 million
- Portal (Crowd sale wallet): 97.2 million
- Savings (Presearch Marketplace wallet): 36.5 million
- Earned Rewards: 60.5 million
- Reward Reserve: 30 million
- Sales Reserve: 37 million
- Project Team: 50 million
PRE tokens serve multiple roles within the Presearch ecosystem. Users earn PRE as rewards for their searches, can use it for purchases within the platform's store, and have the option to stake it to display advertisements. In the future, users will also be able to stake PRE against ads they deem undesirable, thereby increasing the cost of displaying such ads. Node operators leverage PRE tokens to secure the network, while partners have the ability to pay and stake PRE for inclusion as a search provider.
Average Fees on the Presearch Network
When users interact with the Presearch platform, such as withdrawing earned PRE tokens or making purchases in the store, they may encounter standard Ethereum transaction fees. These fees go to miners who validate and process the transactions on the Ethereum network.
PRE Token Wallets
PRE tokens, being ERC-20 tokens on the Ethereum blockchain, can be stored in a wide range of Ethereum-compatible wallets, including MetaMask, MyEtherWallet, Trust Wallet, Ledger Nano S/X, Trezor, Exodus, Coinbase, Infinito Wallet, Atomic Wallet, IMToken, etc.
