Repux is a platform developed to exchange and trade data between corporations and users. The system is being designed to work around a combination of decentralized technologies like Tidex, Etherdelta, Blocknet, and Ethereum and so on. It can continually adapt the blockchain properties to suit the needs of the user. The endgame of the new ICO is to help data producers monetize their work without dealing with data handlers or wholesale data dealers. And to offer big business companies an opening to deal with digital currencies while working out new concepts about machine learning, the handling of big data and artificial intelligence.
A quick rundown on the technological aspects of Repux as well as the features of their token can help you make up your mind about risking an investment with them, let’s take a look:
First stage
Repux handles his technology in four stages to make a more efficient exercise of data trade time-wise. The first one is a group of decentralized applications developed by third parties to work out their offering inside the ecosystem of the platform.
Second stage
The second stage is built with all the data that can be traded using the platform tools. Repux’s advanced security protocols leave no chance of an anonymous transaction between a developer and a user.
Third stage
The third stage is the logic layer that contains the necessary algorithms that allow the transactions have immediate effect without wasting anybody’s time.
Fourth stage
The fourth stage is the trade value that supports the details of each transaction and the payments made by the users of the platform. It’s backed by the developers by creating public a rating system to make users and business alike aware of how trusting any operator inside the ecosystem can be.
Now that you have a clear picture of the tech behind Repux, you should check the uses of the token you’ll be getting to back up this ambitious project:
Data trade
Token holders will be able to buy and exchange data first hand from their own developers. Every transaction will be done in RPX and the value will be set by basic rules of supply and demand.
Building reputation
The public rating system of Repux is useful to build a reputation among users that show work ethics. As you keep making transactions with clear-cut ends you’ll be more trustworthy among your peers in the platform.
The Oracle network
Security is the best feature when it comes to tokenization. Every transaction to handle funds and trade operations in the Repux ecosystem needs to go through the oracle network for approval. Users partake into voting the viability of a transaction to help their fellow users to avoid scams and false ratings.
As a working protocol and a platform Repux works for all kinds of business to deal in their data without risking it for illegal uses. It also offers developers the chance to sell their tools to handle data and offer solutions to their fellow data handlers. The operation is currently working through their pre-ICO sell to fund the project. If you need more details go to https://repux.io/ to check their timeline and read their white paper.