What is Revaloot?
Revaloot is a new cryptocurrency ecosystem and cryptocurrency platform (REV) that will reward open source creators based on the popularity and use of their code. Revaloot will help open source creators monetize their code and be able to fund future development.
Revaloot’s entire codebase is publicly available for viewing and verification by anyone. It will always remain open source and be maintained by an ever growing community.
In the nature of transparency and open source, Revaloot is developed by team members all over the world. Each member fills roles and contributes based on his or her skill sets.
Revaloot’s mission statement is to empower developers and future developers by removing barriers that prevent them from making a living off of their code. Revaloot puts Developers and their code first.
The current players in the space do not facilitate monetization of codebase. It is expensive for companies to divert employee resource to fix bugs in open source projects.
Revaloot will take away the extra facilities needed to more monetize open source and therefore will become faster.
Open Source is more important than ever when it comes to cryptocurrency and blockchain. Users do not want to use wallets or code that is not open source.
$REV vs. Revaloot, LLC
The coin that will be the economic backing of our ecosystem.
REV is going to be a fork of Crown (CRW) and Bitcoin (BTC) with the following changes:
- REV will stay merge-mined and not move to Proof of Stake (PoS) for some time.
- REV will make the Superblock retroactive.
- REV will change the Superblock amount relative to the price of the token.
The company that will run the following applications.
Revaloot, LLC is a privately owned company based out of Minneapolis, MN USA that:
- Offers competitive rates on private repositories.
- Charges a % fee on all application sales & monthly supporter subscriptions.
- Uses REV to incentivize early adopters and expedite our network effect.
What is a hard fork?
A hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency’s existing code is changed, resulting in both an old and new version. This case is similar to BTCP, whereby ZCL and BTC were co-forked into Bitcoin Private (BTCP).
When is the hard fork?
Snapshot date: August 13th, 2018.
Snapshot blocks: 511346 for BTC and 272991 for CRW.
Mainnet Launch: September 2nd, 2018.
How do I receive REV?
When the hard fork occurs, a snapshot of all existing CRW and BTC holdings will occur. Anyone holding CRW or BTC in a wallet or supported exchange will be credited REV coin (REV) at a 1:1 ratio. For example, if you held 225.4 CRW and 0.3 BTC, you receive 225.7 REV.
What is Revaloot’s mission?
To empower developers and future developers by removing the barriers that prevent them from making a living off of their code.
- There are more skilled developers contributing to open source code than ever.
- More companies are transitioning to open source software.
- Open source has become the default approach for software, more than 66% of respondents saying they consider OSS before other options.
- Users don’t want to use wallets or code that is not open source when it’s dealing with large sums of money.
How does open source work today?
- Turn your project into a company – Docker, WordPress (Automattic)
- Give the code away for free, and charge for hosting – Gitlab
- Charge for Support – Ubuntu, Nginx
- Work at a company that will pay you to support it – React (FB), Angular (Google)
- Run a kickstarter – Light Table, Disapora
- Run a Patreon – Vue
- Ask for Donations – Webpack, Babel
What problem does Revaloot solve?
Initially we are trying to solve two problems; the first being that we see a shortage of quality blockchain developers at a time when demand is spiking. We believe our platform can help connect quality developers to projects in need of development. The second problem we are solving is creating a way for open source developers to monitize their work on a micro-pay system. Cryptocurrencies help build the contracts and complete the financial transaction in a way that wasn’t previously available.
What is the competition?
- No easy way for a programmer to monetize code, they must seek out third party websites.
- Project Management focused feature development. (We plan on developing features developers want first.)
- No internal issue management system.
- No reputation system for individual developers.
Brooks first discovered bitcoin in 2013 while working at Morgan Stanley as a financial advisor. In 2016 he founded DCI Capital Advisors, LLC a private investment group that specializes in investing in bitcoin and other blockchain related technologies. Over the past 5 years, Brooks has dedicated his life to studying various digital currency markets as well as teaching others about bitcoin and other blockchain related technologies.
Sean's obsession with cryptocurrency began in 2013 while in New York City. Since then Sean became the founding engineer of a Minnesota based fintech startup that has gone on to raise over 10 million dollars. In 2017 he moved full time into the cryptocurrency space and has been consulting startups, ICOs, and investment firms looking to enter the space both from a technical and financial standpoint.
To reach out to the primary coordinators of the team for any inquiries related to press, please contact us at firstname.lastname@example.org