We are currently living in an information age where new data is being generated at an exponential rate. Most of this data is not accurate or is useless. To get real-time data, a company will have to shell out a lot of money for the API’s and even then the data collected might not be completely up to date. Even if you can find useful data, it is hard to monetize it. Eventum is a platform aimed at solving all these problems.
Eventum is a decentralized project based on the open-source Ethereum blockchain that aims at fulfilling the needs of the supply and demand with respect to data. Many companies require trusted and valid information that is up to date. This information is extremely hard to obtain unless you are ready to spend a big dollars for the information.
Eventum makes use of the crowd to get live information from all around the world. The users are in turn rewarded for the information they provide. The data given by the user is verified by using consensus tool and is then sent to the company that requires the information.
Reporting events like live concerts, game shows, etc. are also considered as valuable information. The data sent by a user does not directly go to the person requesting the data. Instead, it is routed through the Eventum API’s where it is verified and then goes to the requestor.
The whole network is powered by the EVT token which is an ERC20 token based on the Ethereum blockchain. Additionally, the platform makes use of smart contracts to distribute rewards amongst the contributors. This ensures that everyone is rewarded exactly what they deserve.
Use cases
Eventum has come into the light to use the wisdom of the people to provide correct, up to date information to the person in need. It is also useful in the following ways.
• Companies that require live data feed can use Eventum to do exactly that at only a fraction of the price spent on expensive API’s and its integration. The data is verified before sending it to the requester, and thus the data is correct as well.
• In the crypto world, famous personalities and the media can have a huge impact on the price of all crypto-assets. Sometimes, someone impersonating these famous personalities might decide to spread rumors about a particular asset to vary the price as per their liking. With the help of Eventum, this news can be verified.
• Users can provide traffic data in a particular area and be rewarded, this can be very useful in large cities which face traffic problems. The best part is that they will be coming up with an app for Android and IOS which makes it accessible to majority of the people.
Final Thoughts
The idea of behind the Eventum project is very interesting and can prove to be very useful for many companies and even developers. The ability to find out the true information amongst inaccurate data is truly priceless. The use of consensus to do this isn’t something new. However, using blockchain and smart contracts to do it, is completely new and ambitious. They are already out with the alpha version of the platform. Do check them out and try out the alpha release of their platform at https://eventum.network/
Details
https://eventum.network/
https://eventum.network/Eventum-whitepaper.pdf
Author
neverloggedin
https://bitcointalk.org/index.php?action=profile;u=1457262