The VTOS team has announced a token generation event (TGE), which will be launched on May 28th with the intention of making the platform’s native token publicly available for purchase.
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Over 2.5 billion people around the world are now involved with social networking in some way, shape, or form. This constitutes around 33% of the entire global population, and is therefore a huge market that the startup thinks it can take advantage of by providing an alternative to the current industry giants in this space.
VTOS itself is the product of an emerging trend among blockchain startups to leverage the tech for content sharing and social media applications. Some other examples include Steemit (Think crypto-fueled version of Reddit) Yours (similar to Steemit, with BCH as a native currency), and Synereo.
Masternodes key distinction for VTOS
One way VTOS distinguishes itself from the platforms above, however, is their employment of master nodes. Like normal nodes, master nodes are servers that help host a decentralized network, but unlike normal nodes, they get paid for doing so.
They are also called “economically incentivized full nodes,” which is what they are because they are just computers that have downloaded the entire blockchain and have been incentivized through monetization of their computing resources the same way miners are.
According to the platform’s team, VTOS aims to deliver low-cost storage, allowing users master-node hosting in exchange for rewards, creating a virtuous circle within the user community. They also believe that, by leveraging master-nodes, video streaming and content sharing will be more efficient than otherwise, supporting the ecosystem in a more user-friendly way.
Other features, token sale details, and roadmap
Some other features of the VTOS platform include native browser support, ANTI ISP, live streaming encryption, mobile support, client-side encryption, Smart P2P upload control and CROSS platform P2P, IOS and Android SDK.
The token sale will have a soft cap of $4 million and a hard cap $40 million. 55% of the tokens will be sold during the ICO, an additional 20% goes towards master-node rewards, 10% going to both the team and angel investors, and the last 5% being allocated to bounty programs.
Additionally, the supply will be capped at 330 million VTOS tokens, with funds raised being used for a variety of different purposes. This includes platform development (60%), marketing (20%), legal compliance (5%), returns on investment (5%), and other operational costs (10%).
The team has also laid out a roadmap for platform development that spans from Q2 of 2018 until some unspecified point in 2020.
Q2 of 2018 will bring the beta of the VTOS platform, moderation, and content reporting features, master-nodes, and like and dislike functions for videos and blogs. Q4 of 2018 brings other important features such as the ability to monetize content.
Some other important benchmarks include the ad marketplace, the app market, and p2p messages, all of which will be implemented in Q2 of 2019. Finally, in Q3 of 2019, the team will release the final version of VTOS as well as live streaming and live chat functions.
Visit the official VTOS website here: https://vtos.io/
from The Merkle