Hello everybody, this new dipostingan I want to introduce about Bitscreener project, and for more details let’s just go to the following discussion.
BitScreener is a finance-focused unified platform of cryptocurrency and stock tracker powered by blockchain. It integrates data of separated spaces of stock and cryptocurrency into a single platform, allowing traders and investors to track their investments across the domains seamlessly. At the same time, writers and researchers can contribute new content to the system for rewards. BitScreener leverages the blockchain incentivization mechanism for user engagement and content quality. The visualization tools (charts, table, news, etc.) of the data subsystem support writers to create new content easily within the platform. Once published, the newly generated content is transparently evaluated by the community for rewards. The two subsystems data and decentralized content of the system are weaved together, making BitScreener a unique ecosystem evolving overtime. BitScreener aims at tracking 2000+ cryptos, 100,000+ stocks and thousands of other equities around the globe in real-time for its community.
Problem Statements and Introduction
Finance is considered as the most important sector to the functioning of the world economy. Distributing accurate information in real-time to investors, traders or financial professionals plays key role in making right decisions, which might affect the future of organizations. The current financial content providers have several shortcomings in providing quality content to their communities. Benefits and interests of the service providers are the designers’ goals, putting aside their users’.
Consumers may be loaded with biased information based solely on the providers’ view or interests (e.g., finance, politics, etc.) There is no transparent and auditable way for the consumers to reflect their views about the information, which might mislead the community. We summarize some of the key issues in the existing financial data and content systems.
- One-sided, biased, and low-quality information.
- Unfair share distribution.
- Stagnant financial information.
- Disconnected financial world: crypto vs. stock.
From the technical standpoint, BitScreener can be divided into two subsystems. The first one — the financial data subsystem works by extracting trading data from financial exchanges (i.e., from cryptocurrencies, equity exchanges, or media outlets); then processing and preparing the data. It provides information for end users through visualized charts, tables, text, or notifications on frontend sides (the BitScreener App or Web). The second part of the architecture is the blockchain-based community-generated content subsystem where writers or professionals can create content in exchange for a reward. The data subsystem provides free and paid services, users have the options to purchase these services using the BitScreener Token BITX.
The content subsystem, on the other hand — enables users to earn rewards in form of BITX via socialized activities such as creating, reviewing or editing information. The two subsystems work cooperatively with each other, in a way that improves both subsystems. The users rely on the charts, news, and the informed data subsystem to create knowledgeable articles, while the data subsystem processes the crowdsourced data to filter the significant information. Next, we will describe each subsystem in detail.
BitScreener Token Economy
The breakthrough of BitScreener is the blockchain-based incentivization via token BITX. BITX is a vehicle for transferring value between content contributors and content consumers. The financial writers or researchers who deliver the value will be awarded BITX and the readers or traders who consume value, to some degree, may need to spend the tokens. These economic incentives help the ecosystem sustain and grow. By using the blockchain tokens, this mechanism of incentives is far more advantageous than that based on other means of payment such as fiat money or traditional gift card. BITX will be transacted faster, cheaper, and more accurate on the blockchain, regardless of the amount and the geographical locations. The transactions of BITX are transparently public to all related parties. This section presents the details on how, for token holders, to buy premium features on BitScreener using tokens and how, for contributors, to earn rewarding tokens from delivering high-quality content to the community.
Token Supply and Allocation
- The maximum supply of BITX is 450 million, which is fixed in the Ethereum smart contract. This supply has been carefully scheduled for distribution over time as well as allocated to different parties
- Crowdsale: We will reserve 31% of the tokens for crowdsale. This crowdsale will take place from May 5 to July 20. Unsold tokens will be burned. Buyers can use purchased tokens to unlock advanced BitScreener services on App and Web and increase their voting power by converting to BSP.
- Future Content Contributors (i.e., “miners”): 20% will be reserved for the minersIt will take 15 years to “mine” those tokens. The schedule of releasing tokens over 15 years
- Advisors and Bounty Programs: We will assign 4% of the tokens to advisors and bounty activities.
- Reserved for Future Operations: We will reserve 30% for the future operations.
ROADMAP
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By RichZohr