Most Data is produced in multiple events without conceptualizing the possibilities of monetizing it. With the recent IT development, the world has become data driven and data is churned out in multiple occasions in micro seconds without being captured or having end users get good access to these reliable information and that is where eventum.network comes into play by sourcing the truth from the crowd and automatically turning it into a real time API. Through wisdom of the crowd principle, eventum.network solves the problem of the inability of the huge data feeds produced in the world that go uncaptured by picking the truth from the crowd reports and thereby turning it into a real time API.
Eventum is a blockchain-based startup poised to collect and validate real-time data via API for application development purposes such as content moderation, fake news identification and reporting on live events. Eventum’s Alpha is meant to demonstrate how real-time data is collected and processed until consensus is reached.
Eventum aims to utilize the collective knowledge of people around the world to solve tasks ranging from meager data collecting difficulties to highly contentious dilemmas through the use of blockchain technology. This is achieved with the use of wisdom of crowd principle, which states that a large group’s aggregated opinion is as good, if not better, than the answer given by an well-versed individual’s opinion on a certain matter — on average. This removes any inherent bias or other errors from a single data feed. The proposed, and already functional, method is done in real-time by a decentralized network of reporting and validation nodes in Eventum system; developers can get any real-world data while also being sure the data is verified as a result of a consensus. Data providing nodes (i.e. people) that agree with the majority of other reporters (reaching consensus) in turn get rewarded for their participation by the developer for their effort.
The Eventum Alpha can be used as a demo for investors and future developers and participants. Having this demo version available is a huge deal in the crypto startup world, as the majority of projects doesn’t have any working models to show investors during their ICO. The demo can only be improved in future versions, but it does its job by showing and demonstrating exactly how the platform is supposed to work. The Eventum Alpha demo runs on the Ropsten Test Network. Sign up to the Eventum Alpha and experience it first hand.
HOW IT WORKS
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 data providers that were 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.
THE UNIQUENESS OF EVENTUM
• Fundamental blockchain architecture: It is one of the few prototypes in its field that operates on an Ethereum smart contract. All test interactions are said to be kept on the smart contract, the rules of which dictate how many participants receive rewards for inputs aligning with the consensus algorithm.
• Validation nodes: The prototype not just collects data in real-time, but also validates human inputs as an event unfolds. Randomized validators (users) confirm entries and help generate a consensus before the data is exported out via API.
• Global accessibility: The platform is hosted on a web application that allows anyone, anywhere to sign up and register for live events and participate in real-time.
• Diverse use cases: Eventum is currently hosting several live events which mimic real life use cases across multiple industries. Registrants are able to sign up for a variety of live events including: identifying fake news, moderating inappropriate content and analyzing dynamic imaging for suspicious activity.
Total token supply: 500,000,000 EVT
Minimum target (soft cap): 1,159 ETH = 811.000 EUR
Total target (hard cap): 18,539 ETH = 12.977.300 EUR
Conversion ratio: 1 EVT = 0.00007416 ETH = 0,0519 EUR
Eventum is indeed poised to monetize data by serving as a middleman between reporters who experience and report the news and developers that seek to processes accurate and reliable information while paying a subsidized fee. It is high time reporters or individuals start earning some stipends for the data they provide which it’s proceeds are lost because of lack of a decentralized market for it. Subsequently, time will no longer be wasted by developers and end users in sourcing for accurate information among millions of feeds received daily and thereby cut cost and time wastage.
For more inforation about the EVENTUM project kindly visit the links below;
ANN THREAD: https://bitcointalk.org/index.php?topic=2992193.0
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409