Presearch Weekly News & Special Update #129 — July 21st, 2023

Presearch

5 min readJul 21, 2023

Special Update: Presearch 2.0

Lots of exciting developments in the works now that the Foundation transition is complete!

Presearch Foundation transition update
We are excited to announce new organizational structure with additional team members which will push Presearch to next level!
New live traffic & user stats now available at network.presearch.com
New roadmap going live on July 28th,includes information on two major initiatives:
Decentralized search engine and index
Decentralized AI
Search staking is going live this summer with an internal beta next week and a public beta before the end of August
Presearch blockchain in development using the Cosmos Blockchain
Smart contract being updated

Still in development..

Foundation is called ‘Presearch Foundation’ based in Panama
Foundation owns an operating company called Presearch.com Corp.
Ultimately, community will be the beneficial owner of the Foundation, but in the interim,Sherry Barmania(Cooper) is acting Founder
Presearch.org Global Limited is transferring assets to Presearch Foundation, which will leverage those assets through OpCo., which will start centralized and take input provided by community members to the Foundation
Colin will be appointed CEO of OpCo, and team will transition and grow

New org structure and team members

While the ultimate goal of the project is to be decentralizaed and anable different community members to play a more active role in developing the cosystem, Presearch needs to advance rapidly and is.

This week, members of the Digital Capital Management team have join the Presearch 2.0 effort to help the project sharpen its focus and boost its capabilities
Acting COO — Tim Enneking
Acting CFO — Blair Morris
Acting CMO — Jefferson Nunn

Interim organization chart

The Presearch team is changing and growing as we complete the Foundation transition

New live traffic stats

We’ve added live stats to the network.presearch.com dashboard page

The network status page now shows the number of searches over the past 24 hours
As well as the percentage of uncompensated searches
And the total search rewards issued over the past 24 hours(does not factor in breakage)
This page will soon show the number of registered users, and we are working on displaying historic information so you can see trends over time

Decentralized search engine/index

Many of us are anxiously awaiting te ultimate release of the decentralized search engine that is powered by a decentralized index

A decentralized index provides resilience for the project so it isn’t as dependent on other indexes
It also provides the ability to offer more curated, customized search results, as well as the to leverage the power of AI in a more meaningful way than the current AI-powered results
Stay tuned for roadmap and blog post in August outlining in detail how the system is being architected and built, and the timeline

Decentralized AI

AI has become one of the world’s hottest topics and there is more innovation happening in this field than anywhere else, and Presearch is leading the way in the next generation of decentralized AI

Trey literally wrote the book on AI-powered search, and AI is critical to the next generation of search engines
This amazing use case for AI creates huge value for the project by enabling AI to return better results, faster and with less work
Decentralized AI is now possible due to the node network and smaller LLMs-this is the future of AI
We are working on a new AI node role that will launch in Q4 2023

Search Staking

One of the major ongoing challenges for the project has been abuse of the rewards model. Despite significant effort to combat abuse, the potential for gains has attracted bad actors to the project and made us hesitant to ramp up user growth as the associeted costs of rewards challenge sustainability

Search staking overcomes this challenge by enabling users to prove their quality without KYC
All users who don’t stake can still earn rewards, but at a level that is so low, it is not worth abusing — considering 0.01 PRE/Search
Those who want to be rewarded more for their search value now have a way to earn much more than ever by staking PRE
Internal beta in 15 days, public beta in 30 days, launch in 60 days

Presearch Blockchain

As the project works to become more transparent and leverages the power of web3 to build a next-generation, AI-powered, community-driven search engine, Presearch is excited to announce that we’ve begun development on a Presearch blockchain!

The new chain is based on the Cosmos/Tendermint blockchain, providing the scalability and security the project needs, while also maintaining EVM compatibility
The new chain will power the decentralized web index
As well as enable the project to transition its database-driven data-such as rewards, staking and user balances on chain to better support user custody of assets
We are also planning some upgrades to the existing smart contract that we will share on the next update