Author: Norah Amboko

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Chronobank

What is Chronobank?

Chronobank is an ambitious blockchain project targeted at disrupting the human resources recruitment and finance industries. In their website, they indicate that they target to create a major disruption in the two industries the way Uber disrupted the tax business in the globe. Therefore; what exactly is Chronobank?

Chronobank is a decentralized recruitment solution that operates on the Ethereum platform.

It is an open source project that targets to bring the blockchain technology to the world or recruitment. It operates as a complete HR system that allows the recruiters and qualified candidates to meet in a decentralized manner.

The project was developed by a blockchain and human resources development team based in Sydney Australia.

The founders, Sergei Sergienko and Paul Glover, started working on the project early in 2016 and completed the initial phase in December 2016 when they issued an ICO.

They raised 5.4 million which was distributed in the following percentage;

  • 88% went to the ICO participants.
  • 10% was allocated to the development team.
  • 2% was released to the company advisors.

The project operates using a set of tokens to help with operations in the market, paying the transaction fee, stabilizing the market, and trading in the exchanges. However, the main token is TIME.

When the TIME tokens were made available for trading in the market late in February 2017, the value was $12.89 before rising steadily to reach a peak of $28.4 in June the same year. Between June 2017 and December 2017, the price ranged between $13 and $27 before shooting to $49.4 in January 6th, 2018.

This sudden growth realized in December 2017, and January 2018 was short lived because the price took a downward trend culminating to $4.9 by the close of the third quarter of 2018. The appealing design and a committed team resulted in speculation that the value could ultimately rival other top coins in the market.

What is the problem that Chronobank Solves?

The blockchain niche was designed as a response to address the societal issues that plagued the globe for years. Note that unlike Bitcoin that primarily targeted to solve the problem of high cost of sending value, Chronobank operates as an ecosystem and targets to solve more issues. Here are some of these problems.

  • The complex and high cost of recruitment

If you want to hire staff for your company, the process is lengthy, expensive and at times very complex. You will need to create a job profile, run an ad, carry interviews, and select the winning candidate. The alternative, that might be considered less complicated, is using a recruitment agency. However, the process is expensive, and you lose control of the candidate that will be hired for your company. Chronobank targets to address the problem by decentralizing the entire recruitment process.

  • Poor adoption of the blockchain technology in the community

While the benefits of the blockchain niche such as low cost of sending value using a decentralized system are evident, the process of uptake by the community has been relatively slow. Even as people rush to take advantage of new tokens when they are released, their main goal is enjoying high ROI when the digital tokens finally get into the market. Chronobank targets to address the problem by expanding the blockchain to the recruitment niche.

  • The high cost of sending value using conventional methods

Though the earlier platforms such as Bitcoin and Litecoin have done a lot in helping to pull down the cost of sending value, people are still using the conventional financial. Some feel uniquely attached to them, others are worried about regulations, while the last group is skeptical about joining the blockchain niche. Now, Chronobank targets to help cut cost through decentralization and demonstrating that it is secure.

  • High cryptocurrency volatility in the market

If you take a closer look at the price of most cryptocurrencies, one common thing is the high volatility rate. For example, the hype about Bitcoin in December 2017 made its price to shoot through the roof to record high of $18,737. But the price took a downward trend responding to every aspect of the market. This volatility has made it very difficult to predict the price movement of the cryptocurrencies. Chronobank targets to address this problem using a stable coin.

How does Chronobank Solve the problem?

When working on the Chronobank platform, Sergei Sergienko and Paul Glover took a lot of time to look at the industry’s problems and craft winning measures. Here are some of the methods used to solve the above problems.

  • The TIME Coin

This is the main token on the platform that was introduced when the platform was launched for the first time. The unique thing about the TIME token is that it supports multiple blockchains. The TIME token was not designed as a security token. Instead, it is designed as the fuel to the ChronoMint ecosystem.

The TIME coin and the platform’s decentralized applications (dAPPs) are designed on the Ethereum blockchain but can also work on the NEM and Waves platforms. Note that because the tokens are linked to the national hourly wages, the inflationary risk is pulled down significantly.

The Chronobank utilizes a decentralized ledger backbone with multiple security levels. This is used to drive transparency and openness in all stages of the working hour cycle.

  • Labor-hour stable coins

In addition to the standard TIME coins, the Chronobank system also features the Labor-Hour tokens. These are tokens linked to the average hourly wages in the respective country of application. They are backed by actual labor force from major recruitment firms.

The development team was live to the fact that labor is abundant for everybody to access but very scarce to be valuable. This is the reason why it is the most tradable resource in the economy. Now, LH token is this scare resource.

Because the tokens are backed by the real labor, they are inflation-proof and considered next to zero-volatility when compared to other tokens such as Bitcoin and Ripple. The solution is considered more sustainable compared to other fiat-pegged coins such as Tether. The LH tokens are hyper-liquid and accessible all the time through LH debit cards.

  • LaborX

This is a 24/7 global marketplace designed to connect companies and candidates to ensure they can transact promptly, safely and easily. The system is designed on the blockchain sector and introduced advanced human resources operation management systems to help companies screen staff and pick the best. Some of these features include smart contract payments and screening hires.

The Chronobank LaborX was created with a consumer-friendly design to facilitate mass adoption by both large companies and small enterprises. Because of the high efficiency brought by the blockchain system, the transaction fee can be pulled down from about 5-15% charged by hiring platforms to about 1%.

  • The Chronobank wallet

The ChronoWallet utilizes smart contracts to make coin management easy and is the main wallet for the platform. The wallet provides users with an interface for managing TIME, most ERC-20 tokens, and Bitcoin. But the most impressive thing about the wallet is providing users with a reliable platform for the creation of ERC-20 tokens. This implies that you no longer have to look at other tokens and wonder how they were created. Instead, you can use ChronoWallet to create your tokens.

What makes Chronobank better than it’s competitors?

The fast-rising number of blockchain networks on the market has made the industry to become highly competitive. By mid-2018, there were more than 1600 cryptocurrencies in the market. This implies that for a new blockchain to win a bigger market share, the blockchain has to win the trust of the target market. Here are some of the things that make Chronobank better than competitors.

  • The platform has simplified the recruitment process and pulled the associated cost very low. This implies that whether you are a new company targeting to open a new branch abroad or want special skills in business, the process of recruitment will be highly reliable.
  • The Chronobank has articulately addressed the problem of inflation with its unique LaborX token. Now, investors do not have to worry that their funds will lose value when the price in the market changes.
  • Chronobank’s debit card is a good way to help people in the blockchain network to link with fiat currencies directly. Many people in the cryptocurrencies have expressed the difficulty of converting their tokens into fiat currencies. In many cases, they are forced to go through the exchanges that support fiat. However, the Chronobank’s debit card makes the conversion of the Labor Hour tokens to fiat or direct purchases easy and direct.
  • The Chronobank system allows users to operate directly on a peer2peer basis. By allowing users to bypass the profit-seeking organizations, sending value on the Chronobank platform is easy and cheap.
  • The community and experts are in agreement that the Chronobank’s system holds great potential that could push the value of TIME and return on investment (ROI) high.
  • The ChronoWallet, the user interface of Chronobank, has a mobile version that allows users to carry the platform wherever they go. This implies that you no longer have to wait to go back home or reach a computer for updates on the price movement of the native coins. Everything can be accessed on the phone no matter where you are.

How can Databits be categorized?

The Chronobank system is one of the high potential, ambitious and flexible platforms that will revolutionize the recruitment industry. Its design and commitment of the development team are two core components that are making the community remain optimistic that the platform could become the next big thing in the industry. The platform is even more fascinating because it allows users to convert their coins to fiat easily and even integrate with other blockchain platforms.

What is Chronobank’s vision on Security?

The Chronobank’s vision on security is to become the most reliable and secure recruitment and financial system. To guarantee users of optimal security on the platform, here are the main features used on the network.

  • The platform is based on the Ethereum platform. This implies that the blockchain offers another layer of security to make it hard for hackers to break into the network.
  • The system operates as a decentralized network of nodes across the globe. This implies that there is no single point of failure because all the nodes have to verify the information about the sender before transaction are verified.
  • The development team of Chronobank is very aggressive. They are always working to fix gaps and vulnerabilities to make it extra hard for attackers to gain entry. This is the reason why no successful hacking had been reported on the network by the third quarter of 2018.

Examples of Chronobank’s use cases/ applications.

When blockchain projects are released into the market, the founders and development teams want to optimize their applications. Here are the main use cases of the Chronobank platform.

  • Use the Chronobank system to recruit staff. The system operates as a complete platform for companies to reach and recruit high-quality staff. You can use the platform to reach the target audience, screen them, and narrow to the most qualified staff at a reduced fee.
  • Use the platform to send value on a peer2peer basis. As a blockchain platform, people who join the system and acquire the native tokens can use them to send value on a peer2peer basis. Sending value on the platform is fast and cheap because the centralized system helps to bypass profit-seeking organizations such as banks.
  • Use TIME token to trade in the markets. One method of optimizing returns from the Chronobank is trading the native tokens on the markets such as Liqui, Kucoin, and HitBTC. Note that to trading in such markets will require you to join them by opening trading accounts because they are centralized.
  • Use Chronobank token to pay for goods and services. Like other cryptocurrencies or fiat currencies, the Chronobank’s native coins can be used to make direct purchases in the markets that accept it. You only need to identify the stores that accept TIME token or Labor hour token debit card.

https://chronobank.io/

https://chronobank.io/files/whitepaper.pdf

 

 

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RevolutionVR

What is RevolutionVR?

RevolutionVR is an open-source platform created to bring virtual reality gaming to players all over the globe without requiring them to buy high-end computers or devices.

The founders and the platform development team believe that everybody, no matter the location or the computing devices should be able to enjoy the world of virtual reality.

The platform is built on the Litecoin core to guarantee users of completely decentralized operations for extra security and efficiency.

The project was initially known as Voxelus Studios and only rebranded to RevolutionVR in 2018. The tokens name also changed from VOX to RVR.

  • The founders and their mission

The platform was created by three computing experts who wanted to disrupt the gaming industry by using the blockchain niche to take VR games to everybody.  The founders included Martin Repetto, Michael Terpin, and Halsey also wanted to create a token that could facilitate faster transaction without compromising the users’ security.

  • The RevolutionVR Token and performance in the market

When the founding team created the RevolutionVR platform in 2015, they also released the native tokens (RVR) that are used to power the blockchain platform. The platform has a total of 210 million pre-mined tokens. This is ten times the number of tokens in the Bitcoin network.  When users send value or run other transactions, a fee of 0.1RVR is fee is charged.

The price of RVR started at $0.6 when the token hit the market in early April 2016. However, it took a steady decline reaching $0.01, about 5500% decline, by November the same year. The price remained approximately $0.01 up to May 2016 when it gained marginally to reach $0.07. Again, it stalled around $0.07 until the end of November 2017 when it grew sharply to reach $0.69 by the close of the year. This was the highest point in its history before a sharp and steady decline in the subsequent month of January 2018. Then, it continued on a downward trend to reach a low of $0.03 by the close of the third quarter of 2018.

Though the price was on a negative trend beginning from early 2018, the community appeared committed to it believing that things would change. This argument is largely derived from the fast-growing demand for Virtual Reality games in the society.

What is the problem that RevolutionVR Solves?

When the RevolutionVR founders decided to take a new look at the gaming industry, the focus was to bring a complete revolution. They wanted to make a difference in the gaming industry by addressing the bottlenecks that prevented the blockchain technology from fast adoption in the community. Here are some of the issues they wanted to solve.

  • The requirement for complex computing devices for virtual reality games.

Most of the games in the market today require people to have high-end computers or phones to play. Now, Virtual Reality requires even more advanced devices. For example, playing Pokemon Go on the phone will require you to have Android 4.0 and above and a resolution of more than 720×1280. Besides, it is not available for Intel CPUs. Now, RevolutionVR is targeting to bring change to these requirements so that any person can enjoy virtual reality experience.

  • Limited adoption of the blockchain niche in the community.

Though the blockchain networks have been increasing at a steady rate since the launch of Bitcoin in 2009 by Satoshi Nakamoto, the uptake by the community has been relatively slow. Many people have indicated that the process of converting tokens to and from fiat is complex. Others indicate that most tokens do not relate to their daily lives. Now, RevolutionVR is targeting to address the problem by reaching both the gaming and financial niches.

  • The high cost of sending value across the globe.

Sending value from one part of the globe to another through the blockchain niche has become very expensive. The banks charge a high fee because they are designed and run as profit based organizations. The lengthy procedures for confirming transactions can at times make sending value to take days. This is very inconveniencing. RevolutionVR seeks to address this problem by operating based on the blockchain technology.

  • The problem of insecurity when operating in the blockchain niche.

For many people coming to the blockchain, the fear of losing the tokens always looms. For example, Bitcoin Gold network was hacked a few days after launch. Other crypto related entities that have been hacked recently include Coincheck exchange and Trezor wallet. RevolutionVR targets to create a completely secure platform for all.

How does RevolutionVR Solve the problem?

To address the outlined issues, RevolutionVR combines the unique power of virtual reality and cryptocurrency to help power the international gaming ecosystem. Here are some of the methods used by RevolutionVR to address the issues.

  • Voxelus

Voxelus is a platform that permits any person across the globe to create, share, and play the virtual reality games. The platform aims at simplifying the process of generating reality games without going through the complex coding process. This implies that even those who only have an idea of the virtual reality games of interest can now make them a reality.

  • Xtraction Royale

This is one of the new Battle Royale virtual reality experience created by RevolutionVR using Unreal Engine 4. The experience is designed to put the users in other positions to fight others in the island. The platform rewards users with one of the currencies that can be converted to RVR.

  • RevolutionVR graphics servers

The RevolutionVR platform addresses the gameplay inefficiencies through its cloud gaming infrastructure. The target of the system is to enable virtual reality rendering handling in the cloud as opposed to the user’s device. The RevolutionVR servers use cloud connected to powerful computers to render virtual reality games. Using the cloud implies that virtual reality experience can be taken to a wider audience in the globe.

By adopting cloud streaming infrastructure, players using the headsets and other devices will be able to enjoy the virtual reality games cheaply. The devices will also be more portable and powerful compared to the home-PC tethered solutions.

What makes RevolutionVR better than it’s competitors?

The large number of cryptocurrencies in the market has opened room for stiff competition. By mid-2018, there were more than 1600 cryptocurrencies that targeted different areas of the community. To win a bigger market share, a cryptocurrency platform has to win their affection. Here are some of the things that make RevolutionVR better than competitors.

  • The RevolutionVR allows users to make virtual reality games accessible and affordable. This implies that more people can now access and play the games even away from their home PCs. The model allows users to enjoy new gaming options even outdoors.
  • The platform has been simplified so that people with interest in virtual reality games can also make games and sell them. This implies that even users with limited knowledge of virtual reality coding can create new games and optimize the returns from the platform. The revolutionVR platform provides users with a number of free assets that are easy to use to create new games.
  • The RevolutionVR is lead by a highly aggressive team with a lot of experience in the virtual reality niche. Their commitment to extending and growing the virtual reality niche using the blockchain technology is expected to grow the niche and deliver high ROI.
  • The virtual reality gaming sector is less explored compared to the finance niche. This implies that RevolutionVR is expected to enjoy less competition, a bigger market share, and better performance in the markets. Investors in the native tokens can, therefore, expect to see an upward shift in the coin’s price as well as the overall market capitalization.
  • The cost of using the RevolutionVR is relatively low compared to using the standard institutions. If you want to send funds using the platform, the transactions are done on a peer2peer basis. By basing the platform on the Litecoin blockchain, it makes it possible to bypass the profit-seeking organizations. The little fee charged on the network goes directly to the miners who confirm the transactions on the platform.

How can RevolutionVR be categorized?

RevolutionVR is a next-generation virtual reality platform that will help to redefine the gaming niche.

The platform is helping to extend the blockchain technology by making it possible for people in the gaming industry to enjoy the best games without having to buy high tech devices.

However, it is the platform’s ability to help people create virtual reality games easily that has made the platform irresistible.

What’s RevolutionVR’s vision on Security?

The RevolutionVR’s vision on security is to provide the world with a secure and reliable platform for developing, accessing, and enjoying the world of virtual reality everywhere they go.

The development team’s focus on security is targeted at keeping user’s information, their tokens, and the network free from attacks.  Here are the main methods used by RevolutionVR for optimal security.

  • The network is based on the Litecoin blockchain. Using the blockchain technology implies that RevolutionVR takes advantage of the advanced security features used at Litecoin. As a fork of Bitcoin, Litecoin is immutable and almost impossible to hack.
  • Highly aggressive development and security team. The development team, led by the founders, progressively reviews the platform to ensure that vulnerabilities are identified early and fixed before hackers can take advantage of them.
  • Advanced encryption. The RevolutionVR tokens and user accounts are encrypted so that third parties do not easily gain access. Whether it is your gaming account or the funds stored in the RevolutionVR, no third party can easily access or know your details because they are fully encrypted.

Examples of RevolutionVR’s use cases/ applications.

When new blockchain niches are created, the target is to win the largest possible market share. In the case of RevolutionVR, the focus is to promote the adoption of the virtual reality games by more people. However, it also targets to facilitate application in the following areas.

  • Direct trading in the markets. Like other cryptocurrencies, RVR can be traded in the markets such as Bittrex. Trading in the exchanges means opening a trading account, depositing your RevolutionVR tokens and pairing them with the tokens of choice.
  • A platform for saving funds without worrying of third-party seizures. For people looking to save funds with a difference, RevolutionVR tokens provide a reliable alternative to banks. Because the tokens are completely encrypted, users can save their funds without worrying of third-party seizures.
  • Use the RevolutionVR tokens to pay for transaction fee in the markets. If you opt to trade RVR in the markets, the transaction fee can be paid using RVR. Other costs that you can pay using RVR include deposit and withdrawal charges depending on the selected exchange.
  • Create and sell virtual reality games on the RevolutionVR platform. The RevolutionVR platform is unique because it allows users to create new games and sell them on the platform. Therefore, you do not have to only turn to the platform to play the games. If you are interested in creating new games, the platform makes the whole process easy and fun.
  • Access and buy virtual reality games on the RevolutionVR. For the people who love virtual reality gaming, RevolutionVR is the new platform to sample the latest games. Once the preferred game is selected, the payment is effected using RVR.

NOTE: While the design and Revolution platform has been impressive, it important to note some crucial negative indicators to help you make the right investment decision. Concerns have been raised about the description of the RevolutionVR operations. Their whitepaper is scanty, and the shift from Voxelus Studios to RevolutionVR remains unclear.

Because the platform is relatively new, having rebranded in 2018, experts are calling for caution when targeting to invest there. Instead, they recommend spreading of risk between several platforms until the stability of key features, reliability, and profitability of RevolutionVR can be ascertained.

http://revolutionvr.live/rvr/

https://www.voxelus.com/