It’s time to bring you some news regarding our project. We are very excited to announce that Evedo is to be one of the first projects to team up with LockTrip’s new Blockchain. The latest update was announced officially on Saturday evening.
Our events ecosystem was carefully selected by LockTrip’s experts to be among the first early adopters and we can not be more thrilled!
As you know EVEDO’s aim is to build the first decentralized ecosystem connecting all the parties in the event industry. By doing so, we eliminate the unnecessary middleman, we create more business opportunities for the industry in a transparent way. Teaming up with LockTrip will help our ecosystem significantly since LockTrip’s POS blockchain promises to solve many of the problems current major blockchains are suffering from.
It will utilize a truly shared economy as it also focuses on growing both sides of its ecosystem. And EVEDO will early adopt it slowly, step by step according to the pace and the progress of the development of our own platform!
On one side are the stakes and the underlying infrastructure of nodes that facilitate the POS consensus, and on the other side, the applications that build on top of the LockTrip blockchain and thus help it grow in popularity and adoption. You can find more about LockTrip’s Blockchain manifesto here.
How about our upcoming ICO?
The decision to team up with LockTrip is entirely strategical and the whole project will benefit from it in the future. But at this point, note that we will continue to be Ethereum based! Until the end of our ICO event (planned no later than December this year) we will continue to work on the Ethereum platform, as the crowdsale will be fully executed through ETH.
“We are excited at the prospect of economic viability that is being brought to the community by the LockTrip Blockchain. Their team have done some intense analysis and have brought some mindful architecture to the real world problems of the blockchain community as it exists today. Our team looks forward to working closely with the experts at LockTrip and being a part of its development as early adopters and eager to watch it grow into a fully matured and truly decentralized utility that will help secure viability for future businesses and their DAPPs with higher transactions per second, democratically designated fee structures, and the shared economy provided there-in.”, says Rick Graham, Evedo’s CTO.
Issues Handled by LockTrip’s Blockchain
We have summarized the most important problems LockTrip wants to solve with its new blockchain.
Currently, the economy of every blockchain is in the hands of miners only, leaving investors, and more importantly the project developers rewardless. There is no way for them to profit from the transactional economy they are creating.
Available blockchains have a very limited capacity available for distributed databases.
Communication between dApps is poor or non-existent. Transaction fees are unpredictable, putting businesses at high risk.
Users have to store some amount of the underlying cryptocurrency in their wallets to pay for Gas, if they want to send tokens. This makes the process more complex and less user-friendly.
All of those issues will be handled in a smart way (check LockTrip’s Manifest here).
We are happy that this Blockchain open source infrastructure will bring a little more stability to our fees and more revenue to us allowing us to focus more on development of features and marketing our product.
Tell us what you think. Join our Telegram channel to share your thoughts.
Learn more about EVEDO and how to participate in our future pre-sale here.