RepuX ICO Review : Here is Why You Should Invest in RPX Tokens
RepuX protocol is developed for the exchange and accepts of various types of data among the corporate and individual collectors, developers, and users. It is a combination of different types of decentralized technologies like an interplanetary file system, Sia3, Ethereum4 and so on. It has the ability to upgrade to the higher blockchain. The protocol will help the data producers to make money out of their data by cutting out the midway processes. RepuX is well developed to keep details of machine learning, big data and artificial intelligence on large-scale data.
The RepuX protocol has a vision to facilitated monetization of data through effective transfer among developers, collectors, and users. It will also allow the evaluation of data safely and trustfully. The developers will be able to create and transfer their data to the collectors to generate products and services which will reach the end users in the form of exchange for RepuX(RPX) tokens.
REPUX PROTOCOL’s GOAL AND OBJECTIVES:
- To develop a high customize system to transfer data can be directly among collectors, developers, and users.
- To allow the users to apply a semi-permanent record in a mutual transaction, the developers aim to build secure RepuX token transaction.
- To develop a program that will allow the third-party developers to create their own application.
- To build the protocol this will provide high speed and clarity transactions.
The protocol technology has four different layers.
- APPLICATION LAYER: It consists of various decentralized applications so that the third party developers can build their own application over the existing RepuX API application.
- DATA LAYER: It comprises of all the data that can be purchased and sold in the protocol. The data layer ensures the security of the data stored and transferred in the RepuX.
- DECENTRALIZED LOGIC LAYER: This layer allows the transactions to have effect in the data layer.
- VALUE LAYER: This layer provides support to the above layers and keeps the details of the values of the token and the payments made by the users. This layer helps in the transaction of the tokens fairly.
FEEDBACK AND REPUTATION:
The economy is built on trust and the centralized distribution of power has not allowed the small businesses to build a reputation globally. Similarly, the data is also not considered useful until it is from a recognized authority. Therefore, to solve this problem, the RepuX protocol will enable rating and reputation to each trade in it.
RPX TOKEN USES:
- SALE AND PURCHASE OF DATA: The holders of the token will be able to sale and purchase data. The holders will get the payment in the form of RPX tokens. Value-added contents and raw data can also be sold and purchase using RPX tokens.
- ATTACHING REPUTATION: The RepuX protocol will allow the users to give a reputation to each other after any type of transaction. This will help in knowing who is trustworthy. And if there is any dispute or reputation is found incorrect, the users will have to provide proper evidence for verification of the Oracle system.
- RUN THE ORACLE NETWORK: To approve the transaction or reputation rating by the oracle, the token holders can put their token for voting in oracle system.by doing this the holders will be awarded a nominal fee of 0.5% payment in the form of RepuX tokens. This type of voting system will help in eliminating the fraud transaction give reputation and reward to other users.
- BUILD OWN APPLICATION ON THE TOP OF THE NETWORK: It will allow the holders to develop their own application on top of the RepuX protocol. This application can be used for large storage of data for business, research, etc.
The RepuX protocol is a platform which will allow-
- The small and medium businesses to sell and purchase data from the developers.
- The developer to use the brought data in training machine learning algorithms.
- The enterprises to use the newly developed applications by purchasing these from the developers for the betterment of their business decision.
- The protocol will be an alive and usable platform, unlike other token sales.
- It is a collaboration of three pilot companies (WorkHQ, FungyuCPA, and Dascom) which will represent millions of small and medium enterprises.
And to do all the above transaction RepuX token will work as the only currency.
WHY IS IT LIKELY TO SUCCEED?
As RepuX provides the millions of small and medium enterprises a chance to get recognition through the RepuX platform, there will be more fighters to challenge big companies like Amazon, Google, etc. RepuX has also created a rating and reviewing system to give reputation to the trusted data holding businesses. It will also help the developers to get more usable data from a recognized businesses at a very less price.
REPUX TOKEN SALE AND PRE-SALE:
The pre-sale of the RPX token will be from 17th November 2017 / 2 pm UTC to 23rd January 2018 / 2 pm UTC.