Eventum is the world’s first decentralized platform where the API is sourced from the crowd and then automatically turned into a real-time API. Reporters get paid for what they see and experience, while developers get any data they want more cheaply and reliably.
How to Work Eventum
Eventum’s system is a bridge between data providers and developers. Data providers have access to data that is valuable, which they then report via a mobile / desktop app to the validation nodes in the Eventum system. Validation nodes then wait for a consensus to be reached (i.e. multiple data providers send the same information) and then send this data to the developer in the form of a real-time API. The developer locks a reward in a smart contract, which is then split and given to the data providers that are part of the consensus. The reward is split proportionally to the speed at which the data was provided, so the real-time nature of the API is incentivized.
Validation nodes earn fees for correctly capturing, processing and delivering data in Eventum tokens (EVT). Tokens are also used in staking mechanism, reputation system, disputes and governance. EVT is an essential part of the platform, and it fuels the most critical parts of the system. Because every single piece of data that goes through the system is connected to a token which is being paid as a fee to validation nodes, the increased usage of the system increases the demand for the tokens. Validation nodes earn fees for correctly capturing, processing and delivering data in Eventum tokens (EVT). Tokens are also used in staking mechanism, reputation system, disputes and governance. EVT is an essential part of the platform, and it fuels the most critical parts of the system. Because every single piece of data that goes through the system is connected to a token which is being paid as a fee to validation nodes, the increased usage of the system increases the demand for the tokens. All EVT tokens will be minted and distributed in the token generation event (TGE), and their total supply can never change. Users of the Eventum platform that create markets (developers) are charged a fee based on the amount of data that is being validated. Validation nodes are then paid for validating this data and acting as an intermediary between data reporters and developers providing security in the network. The validation fee is approximated when the market is created. Since the approximations can be off, the platform requires the developer to “lock-in” X-times the approximated amount. The fees used to pay validation nodes are set by the validation node owners themselves. Every validator can decide what is the minimum fee they are willing to validate for. This market dynamic forces the validation market to strive towards and reach supply-demand equilibrium. If the minimum fee that is required to validate data is changed during the events, the developer can increase/decrease the fee. This fee increase/decrease can occur automatically or manually by the developer (he can opt-in to be notified of these changes). While the fees are primarily paid in EVT, it is possible to use other ERC-20 tokens. To incentivise the use of our token and ensure that validation nodes are still consistently paid in EVT, all other ERC-20 tokens will be automatically exchanged to EVT on decentralized exchanges. Additionally, paying fees with other ERC-20 tokens will increase the fee for N% (N never being under 1%). N is calculated based on how many developers decide to use other ERC-20 tokens to pay the fees, rising when the ratio goes up and falling when it goes down. This mechanic keeps the token viable and usable while at the same time letting developers use other tokens if they choose to. The difference between other ERC-20 token and EVT payments is sent to the “reward pool”.
Concept and feasibility study
Consensus protocol tested on validation nodes
Whitepaper release and Alpha version deployed on test network
Multiple rounds of external beta testing
Alpha validation nodes released to public
Web reporting interface launched
Full public beta version on test network
1st part of the community votes market launched on test network
Beta mobile clients released
2nd part of the community votes market launched on test network
Official public launch on main network
Mobile clients and SDK released
Live Demo Eventum
Alpha Live demo events
To demonstrate the use of our platform, we are releasing a web app built on top of Eventum’s decentralized network of validation nodes, Ethereum and Swarm.
7,000,000 EVT will be distributed to participants, so join the live demo events, report the data and earn your share. please try here https://alpha.eventum.network/?action=signup