Verity (VTY)

Real-Time Decentralized Oracle

Review Score
3.25/5
ICO Price
0.016066 USD
0.00007 ETH
Pre ICO Price
N/A
Soft Cap
1,159 ETH
Hard Cap
18,539 ETH
Start Date
16 August 2018
End Date
N/A

What is Verity?

 

Verity is a decentralized platform where the truth is sourced from the crowd and then automatically turned into a real-time API. Reporters get paid for what they see and experience, while developers get any data they want more cheaply and reliably.

Wisdom of crowds principle is used to determine the truth from multiple data sources (i.e. people reporting the data) instead of a single data source, which removes bias and single point of failure. This process is done in real-time by a decentralized network of reporting and validation nodes in the Verity system. Asymmetrical cryptography and blockchain solutions, Ethereum , Swarm  and Whisper, are also used to provide a secure and fair system with free market economics.

Verity is an open-sourced, extensible platform with an easy-to-use API interface and flexible SDK. Developers can get any real-world data in the form of an API while also being sure the data is verified, i.e. a result of consensus, for which rules are set by the developer himself. The data can not be stored or controlled by a 3rd party, and all funds are securely stored on the blockchain. Moreover, the price is only governed by free market economy, which means there are zero fees and margins on the price of data.

Our time is valuable and our observations and cognitive capabilities are far beyond what any artificial intelligence system is capable of. So why not make use of that and monetize what you see, do and experience. When you become a data provider, you are providing information via a desktop or mobile app and getting a reward if you are part of the consensus (i.e. agreeing with the majority of other reporters). You can also help the network and earn passive income by running a validation node which functions as just-in-time masternode.

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