BitPerk Docs

Glossary

Glossary

bitPerk and technology in general uses a lot of buzzwords that are not known by everyone. Most bitPerk terms are common English words or blockchain and cryptocurrency terms that have a specific meaning within the bitPerk system.

In case you don't know the meaning of some of these words, here is a Glossary with the mainly used ones.

bit

A "bit" is the basic unit of value used in bitPerk platform.

When you define a reward rule or define the value of an accomplished task you're basically speaking about how many bits you want to give to your team member for that.

Perk

If you take a look in the common definition for "Perk" in companies, it is described as a benefit or advantage that someone gets when working for a company.

In bitPerk platform a Perk is whatever you define for your company. Some examples are:

  • a nice and powerful laptop or gadget.
  • a massage session.
  • a new espresso machine.
  • a paid day-off.
  • a travel.
  • a bonus or 13th salary by the end of the year.
  • a tiny participation of year cummulative profit share percentage (like we do here in bitPerk for instance).

Rewards

Reward is what your team members earn when a task is accomplished as per agreed. As standard in bitPerk, rewards happen by paying them bits that can be exchanged by perks.

Reward Rules

The reward rules are the core of bitPerk and, by defining a reward rule you're basically telling bitPerk how it should behave when paying a reward to someone. Should it give a bonus if the task is ready in advance? Should it reduce the reward value if it's delayed? Who should receive? It's all defined using specific reward rules.

Workspace

Workspace is the the area / aggregator where you can gather all your company projects and all company users and roles. For instance, you can have a workspace for your company where you have all your projects and employers and, you can also have different users set by projects inside a workspace (like freelancers for example).

Project

A project is a temporary effort with limited resources and budget (project wallets) which you can create in bitPerk and which represents your real-life company projects and initiatives. In case you want to create a continuous operation in bitPerk it can also be achieved by creating a project and just keep adding to its wallet/budget periodically.

Events

Events are actions that occur inside bitPerk and third-party integrated systems that can be tracked for generating different decisions and other actions matching with your company process/flow.