SINGAPORE / ACCESSWIRE / June 21, 2018 / BitScreener, one of the most popular cryptocurrency tracking apps, is building a financial data and content marketplace powered by blockchain technology, and will soon be rolling out a token sale, BITX, to enable user participation.
BitScreener was launched in 2017 and quickly became one of the most exciting and innovative financial platforms for crypto traders and investors, serving 50,000 daily active users and more than 1.2 million users since launch. BitScreener has historical and live data on over 2,000 cryptocurrencies, making it one of the most comprehensive platforms on the market. BitScreener leverages its massive data set with robust tools such as advanced crypto filtering, interactive charting, social media integration, portfolio management tools such as Watchlists and real-time alerts, and much more. BitScreener is available on Android, iOS and the web.
BitScreener is now seeking to unify its financial data and tools with crowdsourced content on a transparent and scalable platform. To leverage the wisdom of the crowd and to encourage user participation, the next BitScreener platform will be built on blockchain technology. This will give members the ability to contribute and verify content and data, as well as participate in the success of the marketplace.
BITX will be an ERC-20 token that will serve as the currency of the BitScreener marketplace. BITX will be used to incentivize contributors to provide original content to users of the platform. Writers, data scientists, and finance professionals, who have long provided content on the internet for free or for very low rewards, will have the opportunity to profit from their contributions. This will have a multiplier effect on content quality, as users will be able to view content that they find valuable and then have the option to build on top of that content and share it with other users.
The distribution of BITX will be similar to the upvoting system that is found on popular social media sites like Reddit. The idea is that quality, unbiased information will accumulate votes and allow their creators to reap a greater share of rewards. Although there are social media sites that crowdsource financial information, none has sought to do so in such a decentralized manner. BITX places the power in the hands of users by providing contributors and consumers with transparency and allowing the community to decide, through a decentralized marketplace, which contributors are trustworthy and have valuable ideas. By employing Blockchain technology, the level of transparency for both contributors and consumers of content will be unparalleled.
Specific uses of BITX will include awards to traders and investors who expose their real portfolios and trading activities, pay for financial professionals and researchers who produce high-quality market research and reports, and pay for financial engineers to develop mining and trading algorithms from crowd-sourced data and release them for community use. In addition, BITX will also serve as a reward system to incentivize pro-social actions and behaviors in order to maintain a viable community.
Another use case for the BITX token is the elimination of the middleman. Users on BitScreener will be able to directly purchase financial content from creators, thereby reducing the role of third parties who don't necessarily act in the best interest of the community. The smart contracts built into the Ethereum blockchain will allow for seamless and safe transactions within the platform.
The advent of the BITX token comes at a time where more and more people are relying on financial content sourced from the Internet. Not only will BitScreener's marketplace provide content on cryptocurrencies, but will also cover other financial markets, such as equities. With the transformation from a successful crypto-tracking app to a broad, financial content platform, BitScreener seeks to become the premier destination for financially savvy Internet users.
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Token Sale: https://tokensale.bitscreener.com
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SOURCE: BitScreener, Pte Ltd.