From June 13-14 AventCoin (AVT) has fell more than -5.11%

June 14, 2018 - By Vivian Park

AventCoin (AVT) had a bad 24 hours as the cryptocurrency declined $-0.0404 or -5.11% trading at $0.75. According to Crypto Analysts, AventCoin (AVT) eyes $0.825 target on the road to $1.40785125743498. AVT last traded at Bitfinex exchange. It had high of $0.8037 and low of $0.75 for June 13-14. The open was $0.7904. About 20,510 AVT worth $16,007 traded hands.

AventCoin (AVT) is down -49.32% in the last 30 days from $1.48 per coin. Its down -55.62% in the last 100 days since when traded at $1.69 and the annual trend is down. 200 days ago AVT traded at $3.01. AVT has 10.00 million coins mined giving it $7.50M market cap. AventCoin maximum coins available are 10.00 million. AVT uses algorithm and proof type. It was started on 19/07/2017.

Aventus is an Ethereum-based platform. Its economic model eliminates uncontrolled resale and counterfeit tickets. It allows event organizers to create, manage and promote their events and tickets with dramatically reduced costs, even letting them set price controls and receive commissions on ticket resales. It also gives ticket buyers rewards for promoting events, and identifying fraudulent activity.

AventCoin (AVT) is the underlying token in the Aventus protocol. The purpose of AVT is to fuel the Aventus ecosystem and ensure that the protocol runs autonomously, de-centrally, and without any fraud. AVT is used for stake weighted voting and consensus mechanisms for voting on the legitimacy of:

  • Events on the protocol (e.g. the global pool of verified events) => fraudulent events mean applications selling their tickets will lose customers, so we need to prevent this.
  • Applications (either promoters or ticketing apps) sitting on top of the protocol => a list of verified applications needs to be determined so applications falsely claiming to use the protocol cannot sell fraudulent tickets.
  • The parameters that determine how the protocol works, e.g. event creation fees or reporting fees.

It is also used to facilitate anonymous matching of buyers and ticket sellers in the secondary market. “Matchers” are like miners in the Ethereum/Bitcoin blockchains and get rewarded with new AVT for performing these computations. The winning “matcher” for a given ticket (like the winning miner of a given block) is chosen by an AVT stake-weighted probability distribution.

 

They finished their ICO on the 6th of September in under 10 minutes. Raised 60k ETH in total, 30k presale, 16k white-list sale and 14k during their public token sale.

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