eventum

With Futourist successfully initiating the third phase of their initial coin offering a few days ago — Eventum Network. This particular startup is paving the way for revolutionizing the methods of collating and distributing data in a cheap and efficient manner.

So what does it do?

The problem most modern, digital age firms face in regards to data analytics is capturing the immense volume of real-time data occurring in every moment of our lives. These activities range from common sport events and weekend concerts to highly contentious political debates and war confrontations and the system will allow developers to get to the truth via the source on the ground. In addition, relying on a single data source, as is the case today, results in higher rates of fallibility — be that in human judgment or technical failures; risks that, ultimately, cannot be truly mitigated. On the other hand, the digital revolution has brought us all-encompassing and ever-embracing possibilities of instantaneous communication in our everyday lives that we still haven’t learned to fully employ to its full potential.

 

EVENTS

What Eventum is doing right now is testing the load their system can take, with more participants effectively putting more strain on the network. This is done via events that have taken place throughout February and has thus far worked flawlessly with five hundred participants simultaneously reporting data. These events are currently only accessible through the web reporting app that can be reached here.

The team has already tested events like emotion recognition in which participants had to correctly recognize facial expressions on a set of pictures, fake news and content moderation in which participants had to recognize which news were a sham and which tweets were inappropriate. The last event to take place was on 28th February in which participants had to correctly report the exact time at which suspicious activity happened in the video.

 

 

NODE FUNCTIONALITY & PURPOSE

The system will feature validation and data providing nodes. Most users will only serve as the second by reporting the data they see. But everyone will also have an option to serve as validation nodes, provided they meet some of the requirements, thus collecting the data from data providing nodes, analyzing it, exchanging it between other validation nodes and when consensus is reached, sending it out to developers who requested and paid for it.

Data providing nodes require little communication over the Eventum platform as their primary responsibility is to provide the raw data to the system via one-way communication to randomly chosen validation nodes. Validation nodes, on the other hand, represent the core part of the decentralized sum of Eventum network and are mainly responsible for capturing the data from data providing nodes (i.e. users), exchanging the data between themselves to form a consensus and delivering the data to developers. 

Their other uses require them to govern the entirety of the system, like weighing specific nodes by its reputation and regulating their participation. In exchange for their effort, validation nodes are awarded fees for every bit of data correctly processed. To ensure transparency and fair-game, they are required to stake a certain amount of EVT tokens (according to developers, the current estimated number revolves around 13.000) for the duration of the event they are validating. They are chosen at random just before the event to avoid any tampering or illicit activities.

 

 

ROADMAP

The team conceptualized Eventum platform in May 2017 and in less than half a year built a working prototype; in November, the Alpha version was deployed on the test network and thoroughly tested throughout December, albeit on a small scale with a few participants. The full beta testing started in February 2018, with the platform gathering the attention of 500 alpha participants and their telegram group skyrocketing with more than 14.000 members. So what lies on the road ahead for Eventum?

JANUARY — MARCH

· Alpha validation nodes released to public

· Web reporting interface launched

APRIL — JUNE

· Full public beta version on test network

· 1st part of the community voted markets launched on test network

JULY — SEPTEMBER

· Beta mobile clients released

· 2nd part of the community voted markets launched on test network

OCTOBER — DECEMBER

· Official public launch on main network

· Mobile clients and SDK released

The platform is set to launch its initial coin offering (ICO) at the end of March / start of April in order to kick start the development of their smartphone and other front-end apps and to start promoting their platform on a wide range of platforms. To do this, their total target funds are set at 18.539 ETH with ETH being at around 700 EUR results in at 13 million EUR hardcap.

TOKEN DISTRIBUTION (ETH = 700 EUR):

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”.

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
Team’s vesting: 3 years

 

If you find this information useful and would like to try out Eventum’s platform, I would very much appreciate registering using my link. The team is promising 3–4 new events before their ICO date, so it’s not too late to join and be one of the early supporters.

http://alpha.eventum.network/?ref=Vw2AwcS0

Literature

[1] Connie Crosby (2011). The Importance of Real Time News and Information. link
[2] James Cotton (2014). Data: The importance of accuracy, integrity and real-time integration link
[3] Watson, Hugh J., et al. “Real-time business intelligence: Best practices at Continental Airlines.” Information Systems
Management 23.1 (2006): 7.
[4] Watson, Hugh J., and Barbara H. Wixom. “The current state of business intelligence.” Computer 40.9 (2007).
[5] Sportradar AG, link
[6] Gartner, Inc. (2017). “Gartner Says Worldwide Business Intelligence and Analytics Market to Reach $18.3 Billion in 2017”
link
[7] PennState News (2011). “Real-time search market worth more than $30 million a day” link
[8] George Collins, principal, Deloitte Consulting LLP, and chief technology officer, Deloitte Digital US, The Wall Street
Journal (2015) “Companies Assessing Business Value of APIs” link
[9] Statista Inc. (2017). Number of smartphone users worldwide from 2014 to 2020
[10] Vitalik Buterin (2014). SchellingCoin: A Minimal-Trust Universal Data Feed link

About more information
WEB: https://eventum.network/
WHITEPAPER: https://eventum.network/Eventum-whitepaper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=2992193.0
TELEGRAM: https://t.me/eventum_network
TWITTER: https://twitter.com/eventum_network

written :

patungan

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