Bringing blockchain ticketing to the masses.
In the current ICO climate, the vast majority of startups seem to be focusing on designing snazzy whitepapers, fancy parallax scrolling landing pages and promo videos featuring a questionable cast of models. In contrast, EventChain has taken a more diligent and respectable approach, working to develop true innovation in blockchain SmartTicketing.
Introducing EventChain’s Alpha, a best-in-class prototype of a functional token backed business on the Ethereum blockchain, that incorporates several bespoke features which are significant in establishing EventChain as a technology leader in this field.
The Alpha software architecture has been designed as shown in the following diagram:
Our Architecture has three primary layers of technology; the Dapp frontend; web2 sidechain; and web3 backend. Bear in mind that web3 savvy users can bypass the web2 services completely and interact directly with EventChain’s smart contracts, so we have built our solution to offer the best of both worlds.
Since the Ethereum blockchain can be quite technical and many users may not be familiar with cryptocurrency transactions through code, we have developed an opt-in web2 sidechain which provides several advantages:
Familiarity. Web3 is still in extremely early stages of adoption and in order to get mainstream adoption by the event industry and ticket buyers, we must offer services in convenient and familiar ways to the customer.
Security. Our approach enables us to avoid the common pitfalls on-boarding ticket buyers and event organizers into cryptocurrency that will completely avoid third-party vendor security holes such as online wallets and browser extensions.
Consistency. We can provide a similar experience across all devices. The Alpha demo works perfectly well on mobile devices with no special plugins.
Portability. We are able to switch or incorporate another blockchain if necessary as backend technology evolves. This also means we can extend the service across multiple future blockchains.
Interoperability. Our independence from third party service providers also means we can interface easily into existing business partner services and industry value chains.
Scalability. We are able to proxy a saturated transaction pool by relaying user activity through our event-driven asynchronous middleware. This provides a very fast and convenient user experience and a safely throttled interaction with the blockchain.
Extensibility. The platform can be evolved cleanly and in a modular micro-service oriented fashion, introducing new features as they become mature.
Building upon the solid foundation we have developed so far, preparations are already underway for the next Beta version. The evolution of the architecture will lead naturally towards a more asynchronous and consistent system.This is a necessary step in order to ensure interoperability with other blockchain technologies.
Introducing the EventChain Token (EVC)
We have designed the EVC token with genuine utility across the platform, ensuring its demand and liquidity. EventChain token holders will receive a variety of exclusive benefits. The EVC token will serve the following functions:
Event Creation. EVC is the base currency for creating events which take advantage of the SmartTicket functionality.
Ticket Purchases. EVC will be used as the base unit price for tickets, although payments will be accepted in any crypto or fiat currency and be exchangeable directly via EventChain at the latest rate. Purchasing EVC during the crowdsale will ensure future ticket purchases on the platform at a discounted rate.
VIP Events. VIP privileges will only be available to ticket purchasers using EVC, fostering the added benefit of increasing the demand and liquidity of EVC.
Resale Market. EVC holders will also be able to access extended features of the EventChain platform, such as the ticket resale market, resale commissions and surge pricing.
Promotion & Advertising. EVC tokens will be accepted for peripheral activities of EventChain, third party event promotion services and/or event management tools.
API Access. API’s will allow distributed access to purchasing tickets around the web. Extended access to and usage of the EventChain event and ticket API will be granted to EVC holders exclusively.
We hope you enjoy using the demo and recognise its quality. EventChain’s intention is to gain the trust and confidence of the community by showcasing innovative technology and a well-defined business strategy. Since many obstacles have already been overcome, we expect the next development phase to be easier and further enhance EventChain’s solid proposition.
We are here to stay and are confident we will be successful with your support.
Join us in our community Slack channel for business or tech talk, or just to hang out and meet the team. Here is a Slack invite.
EventChain.io
Our EventChain.io pre-sale begins on Sept 1st. The main crowdsale starts Sept 13th and will run until Sept 27th. Don’t miss it !!