REVAIN Crowdsale Reaches $4,000,000 in 20 Hours

REVAIN began its crowdsale less than 24 hours ago and is already boasting impressive numbers. It raised 883 BTC during its first 6 hours and a total of 1,052 BTC over the last 20 hours.

REVAIN’s Popularity Induced a Technical Issue

REVAIN had an unexpected server overload that resulted in technical issues preventing some investors from contributing. The team acted on their feet and got through that situation. The system is working properly now and all the transactions are running smoothly. The crowdsale page had received well over 500,000 requests.

Real-Time Crowdsale Updates

REVAIN’s crowdsale page provides real-time updates on the progress of the sale. A transaction table displays all transactions in real time and shows which currencies are being used. The most popular crypto its investors have been using so far are Bitcoin, Ethereum, Dash, and ZCash. These are not the only currencies the page accepts, so if you prefer to use a different cryptocurrency check out the crowdsale link for the full currency list and real time transactions table.

Blockchain-Based Review Platform

The overwhelmingly positive response to REVAIN’s crowdsale suggests that many people agree with the project’s vision and goals. One of the most appealing features is its use of the blockchain to keep information encrypted in a distributed database making it impossible to be modified later. REVAIN uses the blockchain to create a platform for user reviews to guarantee tamper-proof reviews. It will also encourage users to produce quality reviews by rewarding them with their native token. It is a partially-decentralized token platform for building reputation.

Since REVAIN is part of the blockchain economy, it makes sense that the first reviews would be dedicated to ICO and cryptocurrency exchanges. Reviews about ICOs from investors and experts can be used by external rating systems which garner new interest by even more industry professionals. The platform will subsequently expand beyond rating ICOs to include cafés, hotels, and other consumer industries.

Reviews and Reputations

Users will write and read independent reviews using a database built on the Ethereum blockchain. The economic model uses two token types: an R-token for the crowdsale and an RVN-token for transactions within the platform. R-tokens will be sold on exchanges, whereas RVN-tokens will act as a stable coin to level tokens’ volatile exchange rates. RVN-tokens will reward users for writing quality reviews and be withdrawn from companies’ balances in exchange for those reviews. Platform abuses will result in RVNs being taken from the accounts of those users as a punishment system.

Reviewing businesses and building reputations of reviewers is a proven model that works for many different industries. Booking.com, TripAdvisor, and Foursquare all emphasize reviews as core to their businesses, but REVAIN sees reviews as the business. Instead of just incentivizing active users, REVAIN is giving back direct motivation to the users within the platform by giving consumers back the control with 100% tamper-proof reviews.

REVAIN’s crowdsale is scheduled to last until September 6, 2017.

Check out their site here: https://revain.org