Eventum- Capturing Real Time Information from Raw Data
Big data and data analytics have become a buzz in the market. Big market players like Uber, Facebook and the likes rely a lot on the data available in the market to customize their product and offerings. That is the reason why there has been concern too in data privacy and its protection. These real time data can be utilised to take strategic decisions by to notch companies. Market research research agencies like Nelsen, kantar operations charge heavy amounts to big companies to share their collected data of customers regarding lifestyles, purchasing patterns or anything for that matter. But, the big question is, are these data reliable, can they be banked upon? The answer is "Yes". Eventum has taken the initiative and an implementation to capture the enormous real time data into valuable information and output. What could be better than if these raw data can be turned into valuable information, from which companies can derive strategies and earn profit.
Introduction
Eventum presents a design and implementation of a platform where access to real time information, which often comes from external data feeds(APIs), is capture and turned into real time API. This helps the developers as this data becomes more reliable as well as cheaper and anyone located in any part of the globe can get paid for what they see and experience. Eventum works on the technique called crowd principle in a decentralized network of delivering data and validation nodes with blockchain as a court system. It aims to provide secure, reliable and cheap data feeds which do not depend on a single source of truth.
Current problem
It is an established fact that in the 21st century data is everything. It can make or break one's decision and investment if data is not properly analysed. These real time data often comes from external feeds (APIs). The biggest problem with these real time data is that it cannot be captured and converted into a real time API. On a daily basis everyone comes across invaluable amounts of data that is never fruitfully used and monetized. Moreover, these data that come from data feed are susceptible to errors and high rate of failures because it relies on a single data source thus making it unreliable and of no use. Since almost all the existing real- world data APIs are controlled by a single company, significant margins are included in the prices and the safety and integrity of data cannot be guaranteed. Thus, one side is an ocean of data but on the other side there is no scientific way of capturing it and monetizing it.
Solution
Since Eventum works on a decentralized platform, the truth is sourced from the crowd and then automatically converted into a real- time API. The benefit is that developers get any data cheaply and reliably whereas reporters get paid for what they see and experience. The concept of wisdom of crowd is used, instead of single data source to determine the truth from multiple data sources. Blockchain platforms like Whisper, Ethereum and Swarm are used to deliver a secure and fair system with free market economics. It also offers an open-sourced and extensible platform with an easy to use API interface and flexible SDK. There is zero fee margin on the price of data because the price is only governed by free market economy. The users can also earn passive income by running a validation node which functions as just-in-time master node.
Token Details
Eventum tokens are called as EVT tokens. They operate on Ethereum ERC-20 platform. The total supply of token will never change and it will be minted and distributed in the token generation event. Developers will be charged a fee based on the amount of data that is being validated. It is up to validator to decide what is the minimum fee they are willing to validate for. If there is any difference between the other ERC-20 token and EVT payments, it is sent to the reward pool.
Conclusion
Eventum provides a platform for sourcing the data from the crowd and converting into real-time API automatically. These are highly secure and reliable data with no rooms for error. Even the users can generate passive money by sharing their data with third party with their consent. A unique and one of a kind blockchain platform where data are made valuable through the use of technology. These data are of high importance to various companies across the globe. So, investors can invest in this unique platform and can expect huge returns and profits. A revolution is in the making in the field of data and information. So, invest and harvest too.
Website: https://eventum.network/
Whitepaper: https://eventum.network/Eventum-whitepaper.pdf
Blog by ollivander7
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616