RepuX believes that data monetization will become a source of revenue in the next few years. Thus, it is no wonder that they are trying to build a protocol that will allow for smooth data transfers between various users.
The RepuX protocol is a means to an end for users who want to monetize data. By using this protocol, they will be able to turn data into a commodity and exchange it among themselves.
Currently, there are many technologies you can turn to and make additional revenue. However, RepuX sets itself apart from the competition by combining some of them: for example, Ethereum, Sia, EOS, and InterPlanetary File System. Hence, the company can offer potential users a custom-made high throughput blockchain.
By using this protocol, users can access data sharing possibilities. Meanwhile, data producers can add a certain value to their data and monetize it effectively. But, they won’t have to go through intermediaries to create revenue.
RepuX wants to create this protocol so that users can take advantage of data and generate a profit. Thus, they had to research the protocol building options properly. Furthermore, they might potentially innovate three key factors: artificial intelligence, big data, and machine learning.
By transferring data, collectors will be able to cooperate with users and developers. In exchange for data, they will collect a new type of token called RepuX token.
Also, the developers will have a chance to build upon the protocol and use the data to create certain products and services.
RepuX also hopes that they will integrate their protocol with current blockchain technology. But, they maintain that some instances will require custom solutions.
Just like with other similar platforms, users will have to collect RepuX tokens so that they can buy data from collectors.
However, sellers will also work with other individuals and entities and receive payments in RepuX tokens.
Users will be able to gain or give a “reputation.” Thus, those who are selling verified data will have a chance to prove their reliability through these points.
Still, if there is ever a dispute, or an incorrect reputation claim, users will be asked to give evidence to the Oracle System.
The Oracle voting is a reward system for reliable token holders who are not afraid to give their judgment. Thus, whenever there is a dispute that needs to be approved by the Oracles, users can take part in the voting system. If they make the right judgment, they can receive a nominal fee in RepuX tokens.
The point of this voting system is not only to reward loyal token holders but also prevent frauds and reputation boosting that could have an adverse effect on the RepuX protocol.
Finally, token holders can build on top of the protocol and create third-party apps.
Accredited investors had a chance to buy the RepuX tokens in the pre-sale in December 2017. However, in March 2018, other potential token holders can take part in the main token sale.
This decentralized token sale, divided into five tranches, will last for a month. During the first week, you will be able to buy the tokens for $0.14, and you can even get a 30% discount.
The second week allows a 25% discount. Moreover, tranches III and IV bring 20% and 15% discounts respectively.
During the final week of the token sale, users can buy the tokens for $0.18 and get a 10% discount.
The success of the token sale will not be in vain. RepuX is already planning on using a large part of the profit to develop the ecosystem and the protocol further.
Their development team includes experts like Daniel Kmak, Rafał Książek, and Krzysztof Durałek.
The company also has a management and a product team. Also, they are working with an advisory team of well-known experts like Mateusz Mach, Dr. Jay Best, and Yagub Rahimov.
RepuX is an innovative company, yet only time will tell if they can complete their mission. Their vision is exceptional, and hopefully, users will recognize the chance RepuX is offering them. All that’s left now is to wait and see what happens.
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