Introduction to the Eventum Blockchain Platform
The benefits of Data cannot be overemphasized, this is because the contemporary world today cannot do without internet compliant technological devices, due to the trending technological waves sweeping through in this jet age, the life of an individual now depends on internet as data subscription has fast become the other of the day. Both the young and the old have smart phones or electronic gadgets, this is no news that a great percentage of the world’s population today use an internet compliant device which in turn, put smiles on the faces of the service providers and end users at the same time.
The 21st century is been ruled by data, and a whole lot of accolade goes to service providers, all firms strive to get sustenance and nearness to information through data. But the challenge at the moment is that real-world data cannot at our disposal cannot be captured and turned into real-time API
In this era, technology has advanced to its Peak. And despite all we what we can achieve using data doesn’t limit data in any way, and in this course, data remains unlimited. But the ultimate question is that what can be done to the data that cannot be consumed since it is limitless? How do unreliable data feeds be verified? Ranging from:
- Fake news verification
- Real-time content verification system
- Reporter’s perspective on event censoring and reporting
EVENTUM has the Real-time Profiting Answer
Eventum is a decentralized blockchain data analysis platform that is here to help every individual maximize the data potential thereby bringing profit to the door step of all through limitless data with an easy to use API interface and flexible SDK.
Data being the Gold of the 21st century should be enjoyed without regrets. In making this a reality, Eventum adheres strictly to the wisdom of crowed principle and this has helped in various ways to solve persistent real-world data problems, with an easy to use API interface and a flexible SDK. Eventum is the world’s best open-sourced and extensible platform cognitively far beyond Artificial Intelligence. This is why every developing society need to stick closely with Eventum.
If internet service providers give back by cutting down the cost of data to the barest minimum thereby giving part to their subscribers, end-users/consumers in this era where The world thrives for daily internet service, society will be a better place when end users subscribe and smile continuously for what they can achieve after spending tireless time, energy and finance to have what was gotten.
The challenges on the internet/data issues is not just peculiar to the end users alone, sometimes, companies are affected. The tragic truth is that numerous organizations are squandering valuable capital, benefits, and finances endeavoring to achieve potential customer base in a wasteful way, thereby keeping subscribers in the dark.
Today, developers and subscribers can take back both the internet and the data (charge) only through a data platform known as EVENTUM.
Eventum: Originating from a competent group of technologically inclined and experienced individuals bringing ideas of high repute together.
Eventum makes it easy for people to get paid for reporting on real-time events and information around them, while developers can get any data they want in a cheap, fast and secure data feed. It uses sub-ms network to process data with wisdom of the crowd approach and uses blockchain as a court system on Ethereum network to guarantee security and fairness. With regards to the following;
- Decentralized: Used Ethereum + Swarm + decentralized Eventum nodes.
- Fast and Secure: Used Real-time encrypted data with blockchain as a court system.
- Verified: Uses wisdom of crowds instead of trusting a single data source.
- Fair: It adheres to free market economy with 0 fees and margins.
How the Eventum Blockchain Platform Works?
Eventum is a decentralized online media network with a mission on digital revolution. Eventum was built on the idea that bridges between data providers and developers gaining valuable data through transparency, and data security. The fundamental building blocks of every social platform. Where users gain back what they have been missing by taking control and being compensated, make profit with every click and social media from the so called internet service providing companies.
Utilizing innovative block chain contracts via real-time API.
The social media has helped to redefine community interactions by bringing entertainment, news to our door step just by a click. With EVENTUM, data challenges are taken care of and the hitch broken as users boast of privacy, security as they get reconnected back to the social media community safely in a more secured and relaxed manner as The developer holds a reward in a smart contract, which is then split and given to data providers that were part of the consensus. The reward is shared proportionally to the speed at which the data was provided, so the real-time nature of the API is incentivized.
Smart contracts are responsible for the safety and fairness of Eventum and are used for staking, holding the funds, reputation system, dispute, review mechanism, and governance. At the creation of the market, the developer locks in his reward together with the hash of the consensus rules (which are saved on Swarm). After the selection process, first, the alidation nodes are added to the contract and then the data providers. Another set of contracts is used for keeping and updating the reputation score of all the nodes in the system and another set for the dispute and review mechanism. Changes to the core layer of Eventum's architecture are done via a decentralized voting system implemented in the set of contracts responsible for the governance of the system.
Eventum Data Providing Nodes
Data reporting nodes have a limited amount of blockchain communication and unidirectional communication to validation nodes. They are only responsible for providing the data to the system.
Basic Types of Data Provided by the Eventum Platform
Boolean: The type of the built-in values True and False. Useful in conditional expressions, and anywhere else you want to represent the truth or falsity of some condition.
Integer: Integers with at least 32 bits of precision
Float: Floating-point numbers, equivalent to C doubles
String: Case-insensitive string
Categorical: A value that holds one or more (fixed) basic data types. At least one of the values needs to have a value.
Reward Mechanism
Data service providers report the "right" information only if they are rewarded when they provide the same information as the majority of voters. The reward is provided by the developer who pays for the verified, secure and real-time data he gets from the Eventum system.
Reward is locked in the smart contract when the market is created, together with the data feed parameters and consensus rules. The worth of reward could be of any size but only competitive offers will get picked on the exchange pool which is handled only by the supply and demand. This is done because it is quite difficult to decide on best price,
Eventum automatically calculates the optimal price for the market from the data feed parameters, consensus rules and current prices in the system. This estimate can be re-adjusted to enter the ecosystem with more (or less) aggressive pricing.
Each data provider that is part of the consensus will on average receive a share of the reward equal to C/n, where n is the number of the data providers in the consensus. But because the reward is split proportionately to the speed by which the data was provided, provider's share is higher or lower than C/n. The reward's shares are distributed with an exponentially decreasing function. This incentivizes the real-time nature of the Eventum.
To stop people from guessing the outcome they need to report (and thus getting a bigger share of the reward for being faster. Therefore, unique properties are always reported as a defined data by developers.
The Eventum Token
The Eventum token is described by EVT, this fuels the most critical part of the system. Validation nodes earn fees for correctly capturing, processing and delivering data in the Eventum platform.
EVT Tokens are used in staking mechanism, reputation system, disputes and governance.
All EVT tokens will be minted and distributed in the token generation event (TGE), and their total supply can never change.
Conclusion to the Eventum Blockchain Platform.
Positive reputation levels are held strictly when reward pool is filled, all funds are allocated to the reward pool, and rewards given to nodes who successfully solve disputes as data providers stands a chance to enjoy his stakes if among the majority. Eventum Supports ERC- 20 on decentralized exchanges as they can be exchanged for the EVT token.
All EVT tokens will be minted and distributed in the token generation event (TGE), and their total supply can never change.
Embrace Eventum today, the world’s best open-sourced and extensible platform cognitively far beyond Artificial Intelligence as it brings to your door step an easy to use API interface and a flexible SDK in Transforming Real-world data into profiting Real-time API.
Sources…
Website: https://eventum.network/
Whitepaper: https://eventum.network/Eventum-whitepaper.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=2992193.0
Alpha: https://alpha.eventum.network/
Telegram: https://t.me/eventum_network
AUTHORED BY: cliffdex
AUTHOR’S BITCOINTALK URL: https://bitcointalk.org/index.php?action=profile;u=1781660
ETHEREUM WALLET ADDRESS: 0x29d1Fff9f61dcB1508454BfF52eAeA0881D81e43
Congratulations @cliffdex! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Congratulations @cliffdex! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!