Right now, we have a huge problem with the increasing speed of data creation. More and more people are a able to to create and share data and information. And we just can't keep up with what is real and what is fake. Moreover, many media corporation rely only one one source that fits the agenda of their owners ( western main stream media believing everything a guy living in London says about Syria). Plus, all existing APIs are really expensive and therefore heavily centralized. So we desperately need an application programming interface (API), that will be able to provide us with verifiable data and information.
Solution
The Eventum platform aims to do just that, and much more. They aim to create a decentralized platform where any information can be crowdsourced and automatically turned into a verified real-time data feed. Data will be verified via consensus from the majority of data providers. With that, Eventum will be able to remove the single point of failure and bias from just one source. Data providers will even be paid for their data and EVT token holders will be able to earn passive income with staking their coins to help the network validate data.
The data will be: decentralized, fast&secure, verified and safe.
How will it work
Eventum platform will consist of 3 layers: the core layer, the services layer and the application layer. The platform will be a decentralized network with reporting and validation nodes. Security and reliability of data will be provided by the blockchain (smart contracts) and decentralized nodes. Validation nodes will weed out fake news, capture the data, build the consensus and provide the data to the developers. They are lightweight and will be able to run on mobile devices, which is a huge plus. People staking their tokens for a certain duration will be rewarded with fees in new EVT tokens for transmitting data. That means more people using the platform, which will increase demand and value of the tokens.
Different use cases
Eventum will not only detect fake data, it will do much more. It will also enable sport data feeds, real-time content moderation, image recognition, sentiment analysis, live events data and real-time market research. It will e able to capture any real-world data.
Token distribution
There will be no mining, every token of the 500,000,000 tokens will be created during the Token generation event. Their total supply is therefore constant and will never change. EVT token will be an ERC20 based token. People will be also be able to pay fees in other ERC20 compatible tokens, but that will increase the fee for a small amount, incentivizing people to use EVT token for paying fees. The team will freeze their tokens for 3 years. During the crowdsale, one EVT token will be worth 0.00007416 ETH, with the soft cap set at 1,259 ETH and hard cap at 18,539 ETH.
Received funds will be used as follows:
- 50% for Core development
- 20% for Marketing and communications
- 10% for Legal
- 10% for Operations
- 10% for Education, research and misc
The team
The core team consists of 9 people, all experts in their part of the field. Moreover, they are backed by 4 additional advisors: Nicholas Bartlett (Business Development & Fintech Advisor), Niko Klanšek (Strategy Advisor & Crowdsourcing expert), Jason Warren (Advisor for scientific & medical partnerships) and Julien Coustaury (Business Development & Investments Advisor). All advisors are "big fishes" in their own field.
Conclusion
The project is really promising. It is backed with a good team and advisors, has no visible competition and solves a current problem. Perhaps the biggest plus is, that their is already a working Eventum Alpha platform (more about it in my next article). Especially considering that many blockchain project (also in top 100) are months or even years in their time since ICO and still don't have an Alpha version. The only downside I could find is that there are no current details about how the crowdsale will happen (will their be a presale with bonuses, when it will happen). For more additional information, also about some technical details, you can read the Whitepaper. You can also follow and receive news about Eventum on links bellow:
Medium
BitcoinTalk
Telegram