It will take a brave man to bet about the future of blockchain in the coming year i.e 2018. Will it scale and reach even greater heights? Or is it a bubble waiting for the eventual burst like so many people believe it to be?
New tokens are added to the network every day, all claiming to disrupt the world with the power of blockchain on their side. However, with no authority to validate these claims, it becomes difficult to differentiate between the good tokens from the bad ones. Even with a good token, investors still have to be careful to not invest in over -priced assets.
Most of the companies who issue these new tokens are start-ups (With the advent of blockchain, even the wave of startups seems ancient now) and have no past records to give credibility to their claims. Add the lack of a proper and trusted information source to this and you get a mixture which contains highly volatile and risky avenues where investors would want to invest in but are still wary to do so.
Can this problem of investing in blockchain be solved by applying the same decentralized ledger technology? Pareto Network certainly seems so.
Why such Emphasis on Data?
Data is crucial. One single piece of actionable information provided in time can make a lot of difference and this is especially true for crypto assets which are highly volatile in nature. In their whitepaper, Pareto Network have discussed a lot of instances where crucial insights could have helped investors get significant returns or helped them to reduce the loses.
One such example listed in the whitepaper is an incident in April 2017, when the Monero team found a certain vulnerability in the underlying cryptonote protocol which affected a number of crypto tokens including Bytecoin. The Monero team decided to keep the issue private and resolve it internally before going public with the information. The information about this vulnerability was only revealed to a dozen software engineers during this time.
But, by the time this issue was fixed and revealed to the public, it came to notice that certain group of people used this vulnerability to create and sell 1.6 million USD worth of tokens.
This is also not the first time in history, when a crucial piece of information acted upon in time, helped people amass significant wealth. This is why I started with the statement- Data is crucial.
What is Pareto Network? ( https://www.pareto.network/)
The Pareto principle states that "For many events, roughly 80% of the effects come from 20% of the causes". Drawing inspiration from this principle, the team at Pareto believe that only a small percentage of information provided in the market is actionable and will deliver maximum results, while the rest of it is simply noise. To identify these crucial small pieces of vital information, this team of blockchain enthusiasts at Pareto Network is developing a service for incentivizing the generation and sharing of information about tradable and actionable opportunities in the market of digital currencies.
They claim to be the first peer to peer financial content marketplace. The platform will connect providers of financial information in the cryptocurrency space, who will share accurate and actionable information about the market and to the members of the network who hold the Pareto token. These members can use this information for their own benefit and can pay some sum of money in return for that valuable piece of information.
To encourage the act of rewarding information providers, Pareto network has used a ranking system which will rank the members on basis of their activity in the network and the compensation they paid in exchange of information in the past. So, a highly ranked member will get access to the information earlier than the members who are ranked below him. Getting good compensation for the information shared will also encourage content providers to perform a more thorough analysis and share the information regularly with the fellow members of the network.
The execution of Pareto Network is split into two phases.
In the first phase, Pareto Network will directly recruit qualified information providers to begin the initial flow of actionable information. And in the second phase, the Pareto team hopes that the number of contributors in the network will grow organically.
To facilitate this process of incentivizing the sharing of crucial information, Pareto Network has created a new token called PXT token.
About the ICO
A total of 500 million tokens will be issued during the crowd sale process. Out of these 40% will be available for the investors to purchase. 18% tokens are alloted to the team members, while 4% is set aside for the Advisory board. 30% of the total tokens are reserved for future partnerships.
The presale for the PXT token began on 1st December and will end on 15th January.
The PXT token is an ERC-20 based token, and each token in this presale is valued at 1 ETH = 5,550 PXT.
Also, the first 20% purchasers will get a bonus of 10%.
Hard cap for the sale is set at 25000 ETH.
The proceeds generated through the ICO will be dedicated majorly to business and product development and initial content creation.
Our opinion
I already mentioned how important information can be in any financial market, but for a highly unregulated and volatile market like that of digital currencies, a timely piece of information is pure gold. However, there is no authentic or truly trusted source as of yet which provides specialized information to select the right investment opportunity that can outperform the market in the long run.
To address this issue, the Pareto Network is developing a platform which can help the creation of quality information that will help investors separate the meaningful information from plain noise. The idea is truly novel and has the potential to become the go-to platform, in future, for investors to get valuable suggestions, which will bring value to the platform in the process.
To know more visit: https://www.pareto.network/
Published By: Kishan748
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1027561
And Pareto even have an airdrop https://t.me/PARETO_KuCoin_Rewards_Bot by clicking here by the founder. We have just have to fill up some information here!