Eventum FAQ

1. What is Eventum?
Eventum Network is a decentralized platform where the truth is sourced from the crowds, analyzed through Eventum’s validation nodes and automatically turned into a real-time API and sent to developers.
2. Okay, but what does it do exactly?
It is a platform that utilizes people’s time and connectivity via their smartphones / desktops with which they can capture and report the real-world data all around us. This is particularly helpful in contentious news pieces or various tweets, where a single data source can be prone to errors in judgment or intentionally report false information.
3. What does it solve? What’s wrong with existing platforms?
It gathers information in real-time by a decentralized network of reporting and validation nodes, ensuring transparency, fund and data security and complete verification of submissions. It also avoids relying on a single data source that can result in technical errors or source bias. Moreover, contemporary platforms, such as Mechanical Turk, Clickworker or Crowdflower charge excessive fees as intermediaries.
4. But why does it need blockchain to function?
By utilizing Ethereum’s blockchain and its smart contract functionality, it ensures transparent real-time data collation and consensus analysis in order to bring untampered results back to the developer who pays for it. A specific set of smart contracts governs 1) dispute and reviews, 2) stake and user reputation and 3) system governance among others.
5. Which blockchain is Eventum utilizing?
While Eventum is currently using Ethereum’s blockchain (Ropsten Test Network in Alpha and later Main Ethereum Network), it is ultimately blockchain agnostic. This means that Eventum can be used with any blockchain that supports smart contract functionality, such as Neo and Lisk.
6. Why is Eventum on Ethereum’s Ropsten test network?
Eventum is currently deployed on Ropsten Test Network to enable the team to thoroughly test the technology, adjust the parameters and fixing any bugs or other problems that might arise. The platform will be deployed on the Main Ethereum Network once it goes live after the ICO.
7. Where is the team based?
The team and platform itself is based in Ljubljana, Slovenia and was founded by Martin Mikeln and Luka Perović.
8. What are the use-cases for Eventum?
One of numerous things Eventum excels at is versatility of its platform, because it can be used in any number of scenarios. Developers can create markets for sports data and eliminate sky-high costs of procuring it via existing channels, utilize the crowd to recognize fake news and recognize various gestures and emotions from images and training artificial intelligence systems in the process, moderate content and provide insights from live events. Eventum is currently negotiating a pilot program to train the AI system through doctor participation in which they would be double-checking multiple scans of a patient and verifying the AI’s decision.
9. So how can Eventum process thousands of transactions instantaneously while Ethereum struggles with it?
Because real-time nature of Eventum requires hundreds of thousands transactions per second, it is not possible to utilize Ethereum’s blockchain for this purpose. Data reporting, consensus building, timing & reward calculations and discovery protocols is done off-chain in a decentralized network of Eventum nodes. Ethereum’s blockchain is used to store smart contracts for Eventum governance, staking & reputation, reviews & disputes and other protocol rules.


10. How does it work?
Eventum platform acts as a bridge between data providers and developers. Data providers have access to valuable data they can report via Eventum to the validation nodes, which analyzes and forms a consensus which is then broadcast back to the developer in the form of a real-time API. Developer in turn locks in a reward with the help of a smart contract, which is then distributed among data providers in the consensus (those who submitted the correct answer). The reward is distributed in proportion to the speed of submission, user reputation and market join bonus.
11. What are the Smart Contracts for?
Smart contracts ensure safety and fairness in the system are are used for locking developer funds, user and validation node reputation, staking, dispute and review mechanism and system governance.
12. What is the “Market” as described in the Whitepaper?
In Eventum system, a market is defined as a system of exchange through which data providers, validation nodes and the developer participate in conjunction. To begin with, developers must first define the data they require, the rules for consensus and the reward he is willing to commit, which is called a market generation. Eventum also offers a fair amount of flexibility in terms of access to this data feed, as developers can restrict the end result to themselves, open the data to everyone or charge an access fee to other developers in order minimize their costs and nodes’ resource load.
13. Are there any benefits to joining a market early?
Yes! Eventum utilizes the option for developers to reward users who join the data feed early. This bonus is awarded to every user until the market reaches the minimum amount of people that need to participate as set in the rules by the developer. Because small markets are prone to illicit activities that can influence the final consensus, early users must also stake a larger amount of tokens to participate in order to discourage any tampering in the market. This, however, should not be a problem for benevolent users, as the stake gets returned to them along with the gained reward when the market ends in the event they formed the consensus.
14. What is a consensus? How is it reached?
Consensus can be defined as a general agreement, which is agreed upon by the majority of participants. A market must also reach min_consensus in conjunction with consensus_rule parameters. By default, consensus_rule is set to 2/3 by default and at least that many out of all participants must agree on a certain data feed(s) to form a consensus.
15. How is reward distributed among participants in a given market?
Reward is distributed by an exponentially decreasing function that incentivizes the real-time nature of Eventum, ensuring the developers get the data at the earliest convenience. Before participant join a market, they are informed of the current average reward in the system they will get if no one else joins the market. Because this is unlikely, they are also shown the minimum average reward which they will receive if the market reaches the maximum number of people set by the developer. But because there might be some people who do not form a consensus, that reward could be slightly higher. Because the speed factor is also included in the calculation, there will be always be some people who receive a bigger than the average reward and those who receive a smaller than average portion of the reward. The formula is explained in greater detail in the Whitepaper or here.
16. What are my options if I don’t agree with the outcome?
By utilizing the wisdom of the crowd principle, Eventum ensures that the opinion of the majority will always be the correct one. All the same, there might be cases where a consensus is reached based on either intentional or unintentional submissions of false information. To prevent this scenario, Eventum employs a dispute mechanism in which the consensus is re- evaluated by the minority who did not reach a consensus coupled with users who follow similar markets. Should the first consensus be overturned, the reward is awarded to the second group and their reputation increases. On the other hand, the first group loses their stake and suffer reputation penalties.
17. What is the use of Eventum’s token (EVT)?
Because Eventum platform is based on acting as an intermediary between developers and data providers and influencing the system through reputation and rewards, Eventum token was conceived as an integral part of the platform. The tokens will be used in the reward mechanism and staking requirements and will be connected to every piece of data that goes through the system.
18. Can other ERC-20 tokens be used in lieu of EVT?
Even though the fees will be paid primarily in EVT, it will be possible to use other ERC-20 based tokens. Even still, Eventum will prioritize the use of their own token, so all other ERC- 20 tokens will be automatically exchanged to EVT on decentralized exchanges and charged a small fee (N >1%) to ensure the token remains viable and usable in the general market while at the same time letting developers keep their preferences. This difference in fees is sent to the reward pool.
19. Sounds intriguing, but isn’t this something artificial intelligence systems will soon process faster and more accurately than people?
Yes, with the advent of AI, these systems will analyze data on a much larger scale than humans ever could. Practical applications are still years, if not decades away and there will always be a demand for a traditional human approach. Eventum will be useful when data will be limited, obscured or otherwise unintelligible to AI (e.g. A low quality video). Nevertheless, we see the relationship between Eventum and other artificial intelligence systems as a complementary symbiosis where the latter will do the leg-work in terms of fast processing of vast quantities of data and leave contentious bits to human analysis. These include various ethical dilemmas, content moderation and fake news recognition among others.


20. What are Eventum’s nodes and what role do they fulfill?
Eventum utilizes two specific types of nodes – data providing and validation nodes. The first are in essence participants in markets and are responsible for providing data to the system. They are in unidirectional communication with validation nodes and the latter are essential for the core part of Eventum, as they are mainly responsible for capturing the data provided by participants, building a consensus and finally delivering the data to developers. Because this crucial work is entrusted to be processed fairly by validation nodes, they are entitled to collecting validation fees while also being involved in the governance of the system based on their reputation.
21. What are the requirements for running a validation node?
Because their task is crucial for the stability and operations of Eventum, it is important that they process the acquired information transparently, fairly and in time. To ensure all these attributes, they are required to stake a certain amount of tokens for the duration of the market they are validating. Because this makes them a prime target for manipulation, they are chosen at random based on their validation fee and reputation minutes before the market launches. Current estimate for required stake is at around 13.000 EVT.
22. Do I need any specialized hardware to run a validation node?
Running a validation node will be possible from the smartphone based app. They are lightweight and are designed to efficiently run on all smartphones with mid-tier specifications launched from 2015 onward.
23. How will the Eventum app function? Will I have to play with settings to get it up and running?
Because figuring out which price is right can be tricky, Eventum has a built-in algorithm that always calculates and recommends the best settings for parameters described in the whitepaper. These settings will be based on current market statistics, type of data that will be reported and the type of market. All of the parameters can always be adjusted manually to enter the ecosystem with more (or less) aggressive pricing for data delivery.
24. How many validation nodes are usually participating in a given market?
This parameter is either chosen by the developer himself or recommended to him based on the data they require, specified consensus rules or a specific market. In the alpha events that took place in February, three nodes were chosen in total to gather data and build a consensus.
25. How does competition between validation nodes take place?
Validation nodes will be chosen at random depending on the validation fee they require. Because developers want to pay as little as possible, the nodes with the lowest fee stand the greatest chance to be chosen. Free market economy will take place and the best fee for either developers or validation nodes will also move according to the supply and demand. If a validation node passes the technical requirements, such as uptime, latency and processing power, they will have an equal chance to be chosen than another node that requires the same fee.


26. How is abuse mitigated in Eventum?
Eventum will feature user reputation, staking, consensus disputes, market reviews and system governance rules. On top of that, Eventum will employ AI algorithms to recognize fraudulent behavior.
27. What is reputation & staking and how does it affect me?
Reputation is used in Eventum to evaluate participant’s past actions in the system and acts as a measure to either reward good behavior or penalize gambling or illicit activities. Good behavior is rewarded with an increased reward multiplier, while a low reputation limits the amount of data feeds a participant can join, lowers the passive rewards and validation fees and increases the staking factor. Persistent low reputation over an extended period of time results in a system-wide flag in which the user is under an increased amount of supervision and scrutiny.
28. How is reputation gained and lost?
Reputation is gained by reporting the same data as the majority and forming consensuses, solving disputes in the system and having a good uptime of the validation node. Every user starts with a default reputation of 3 and in case of violations, small reputation penalties (f = - 0.5) are given to users that join but never report the data in a market, medium penalties (f = - 1) are given to those that report data but do not form a consensus and are with three standard deviations from the mean and big penalties (f = -3) to those that report the data, do not form a consensus and are outside of thee standard deviations from the mean, which means that they were trying to guess a result by reporting very early. For every violation, a multiplier (x < 1) is added that further punishes the user and ensures long-term non-viability of illicit activities.
29. How does reputation influence participation?
Low reputation can result in participants being prevented from joining certain high level markets where developers require trustworthy sources. They will also receive lower rewards and stake higher amount of tokens as developers will want to hedge themselves against potentially illicit behavior.
30. Does Eventum intend to employ machine learning to recognize fraudulent activities?
Yes! Eventum recognizes that all of the aforementioned precautious may not be enough, so it will employ a set of AI algorithms to recognize dishonest behavior and periodically ask random users in similar markets to confirm the outcome of suspicious markets before the dispute deadline passes. These users will be rewarded for reviewing and potentially opening up disputes. Parameters that will be included in the analysis include network statistics (latencies, node origins) and behavior analysis (voting patterns, same markets, submission time).


31. How do I participate in events?
To participate in the events, you need to sign up on Eventum Alpha and install MetaMask add-on your browser. In MetaMask, create a new account / wallet then click on the top left corner and change to Ropsten Test Network. Eventum Alpha is currently deployed on Ropsten to thoroughly test the platform and without it, you will not be able to participate in the events. To join the events, you will have to pay a small amount of gas so your participation will be locked in the smart contract. Don’t worry, you don’t have to pay anything! In order to do join, you can request some test ether be sent to your wallet for free by clicking buy in your MetaMask -> Ropsten test faucet which will open a new webpage -> Request 1 ether from faucet. A transaction show appear on the webpage, but in case it isn’t working, click the button again one or two times. In less than a minute these test ethers should appear in your wallet. Unfortunately, the button will sometimes throw out an error, in this case just do the process at a later time, so be sure not to start joining events in the last minute. After that is done with, click on the join button and when a new window appears, click on submit. There is no need to input different gas settings. That’s that, you’re in! The process is described in greater detail (and with pictures) here.
32. What are the recommended gas settings for joining the events?
It is recommended to use 100,000 gas limit and 100 gwei for fast processing.
33. But what if I submitted too low gas limit / gwei?
Will it ever be mined? Yes! If gwei is too low it will take a longer time to be mined. If the gas limit is too low the transaction will fail and you can try joining again with recommended settings.
34. Do I need Google Chrome specifically to join events?
No! MetaMask can be used in Chrome, Firefox, Opera and Brave browser. It’s all up to you.
35. Can I use MyEtherWallet or other ERC-20 based wallets to join the events?
No! MetaMask is required to join the events and without inputting its wallet address in Eventum Alpha's settings, you will not be able to participate in any events. If you do not wish to participate in any events and only wish to collect bounty rewards, you can input any ERC-20 based wallet in the settings. This is not required, however, as a final confirmation will be required at the end of token sale where everyone will have to confirm the wallet address to which their tokens to be sent.
36. How can I prepare myself for events?
Events are not hard at all, but having good reflexes is certainly a bonus! Eventum team usually sends an email with instructions for each event a few hours before the start, so be sure to read it. If the event has some specific tasks to complete, we will also make a post on our Medium profile, so it is a good idea to read it and be up to date with the announcements. We also publish event statistics (consensus time and distribution) on our Twitter account, so make sure to follow them on there as well.
37. I accidentally clicked Join before I set MetaMask and now the button is continuously loading with a message “Waiting for transaction to be mined”!
This was the case in the early events and was caused by browser cookies. This should be resolved now, but in the odd case it persists, close the browser and join with Incognito / Private window. The button should appear normally now.
38. But MetaMask doesn’t work in incognito mode!
You have to manually enable it in incognito mode. Go to “More Tools” -> “Extensions” and check “Allow in incognito”.
39. How do I claim my reward?
If you were part of the consensus (by voting correctly) you will later receive a notification that you can claim your reward. “Claim reward” button is visible a few minutes after the consensus is reached. By doing this, the smart contract automatically sends you the test ether.
40. When will I receive awarded real ETH and EVT?
The system sends you test ether to correctly calculate how much your final claim will be after the token sale. Because Eventum has not initiated the token generation event yet, you will receive both EVT and ETH at the end of the token sale.
41. Why am I not in a consensus even though I submitted the correct answer?
Eventum had some test problems due to the huge influx of new users on Dota 2 event on 25th February where the system did not notify users that the consensus was already reached. Some users wanted to cast their vote even too late (after consensus was reached) and the system correctly recognized that these votes are invalid. This was a mistake on Eventum part as the vote button should have disappeared as consensus was reached and some users felt that they were wronged even though they voted correctly. This bug has since been fixed and the team apologizes to everyone involved.


42. When will I receive my tokens from various bounties?
Bounties will be over when the private sale successfully concludes (when we reach the hard cap or June 12th).
43. Are points equal to tokens?
How many tokens will I receive with X points? No. Bounty points are there to show you how much your contribution to the platform is valued as set by the rules here. The amount of tokens you will receive will be determined at the end of the crowdsale when everyone’s contribution will be evaluated. The formula for how much tokens you will receive is EVT = (your points in a certain category / total points awarded in that category) * EVT tokens allocated for that category You also need to follow specific rules for each category, which is in described in greater detail here.
44. How does Eventum deal with fake bounty submissions?
Only original and personal accounts will be allowed, so any fake profiles, fake or copy-pasted submissions or scams will not be tolerated and discarded. Any attempts to scam the system will result in a ban and all points being erased.
45. I submitted a post but the points are incorrect. What’s wrong?
Some submissions like creative content, translations, Reddit posts etc... are checked manually, so submissions will only have the minimum amount of points in the bounty until they can be properly evaluated. Not to worry, all of them will be checked. Points from referrals to Eventum Alpha and Telegram should be awarded automatically.
46. How do I invite people to Eventum telegram group?
While in the group, click on Eventum logo and choose “Add members”. Bear in mind that you don’t get any points for inviting users to the telegram group per se. You get points after the user registers on Alpha and later joins the group.
47. Where can I find my referral for 50% bonus on events?
In the Eventum Alpha under bounty section or by checking your email after every event. In both cases your referral should be there.
48. When will the 50% bonus on events for Alpha referrals be awarded?
The 50% bonus on events will be awarded after the crowdsale provided the people that were referred participated in at least one event and joined the Eventum telegram group.
49. When is the bounty going to be over?
After the crowdsale is finished (see question 49).
50. I accidentally entered my MyEtherWallet into the settings for bounties. I joined later events with MetaMask wallet. In which wallet will I receive my rewards?
Not to worry! In June, every Alpha participant and / or contributor will be given a chance to finalize and confirm their wallet accounts before the rewards will be sent so you will only be sent the rewards to one account of your choosing
51. How many tokens will be distributed?
Eventum will feature a total supply of 500 million tokens, half of which will be distributed to investors in the crowdsale. Various allocations are made between core development, legal, marketing and future financing to ensure long-term sustainability of Eventum network.
52. Is EVT ERC-20 compatible?
Yes! Eventum Alpha is currently running on Ethereum’s test and later on the main network, so you will be able to send EVT to any ERC-20 compatible wallet.
53. What is the softcap & hardcap of Eventum’s ICO?
Eventum’s minimum target is set at 1,159 ETH which is, at the current market price (ETH = 580 EUR), 672,220 EUR. Total target is set at 12,236 ETH.
54. What is the price of an individual token?
The price of an individual token is set at EVT = 0.00007416 ETH.
55. What exchanges will EVT be listed on?
Eventum cannot disclose any information about which exchanges EVT might be listed on due to Non-disclosure agreements (NDAs). Rest assured that once the listing will be successfully negotiated and confirmed by all parties involved, the information will be publicly announced in all Eventum channels.