Frequently Asked Questions

OVERVIEW

What is REOS?

REOS is a blockchain-based ecosystem for user generated content (UGC) that gives power and control back to content creators and consumers.

What are REOS tokens?

REOS is the ERC-20 compliant utility token that is circulating on the REOS platform

What is REOSchain?

REOSchainTM is the main blockchain for the REOS community where all digital content contributed by content creators is registered on. It ensures accurate attribution of ownership of the digital assets while providing a “Voting by Stakes” mechanism to valid the truthfulness of the content.

What problem does REOS solve?

There are two problems we’re attempting to solve.  First, on platforms from Yelp to Facebook, there is no effective way for regular users to validate the content, which has resulted in issues like the distribution of disingenuous content. Yelp, for example, admitted itself that as many as 25% of the reviews on its website are fake.

Second, there is too much concentration of power among a few large Silicon Valley Internet giants like Google and Facebook to the extent that they not only dictate how much money a content creator can make on their platforms, but they also routinely censor content based on their business interests and political leanings while disrepecting their users’ right to privacy.

Why is REOS utilizing blockchain technology??

Blockchain technology enables us to create a transparent, secure, and decentralized system where members determine the value of the content. With our implementation, a piece of user generated content is first registered on the blockchain to ensure accurate attribution of ownership of the digital asset.  Next, the results of the validation process are recorded on the blockchain which cannot be altered. Then, all transactions of UGC for buyers and sellers are recorded on the blockchain which become part of the permanent record.  Finally, thanks to the Delegated Proof of Stake (DPoS) algorithm, the system is controlled by the members, as opposed to centrally managed by a corporation, which means control is given back to content creators and consumers.

Are there any competitors?

There are two types of competitors in the market.
1. Traditional social media platforms like YouTubes and Facebook. Admittedly, they have all the incumbent advantages from deep pocket to number of users. However, for all of the pitfalls of the traditional social media as we described in the whitepaper, there is room for a decentralized platform that gives power and control back to content creators and users. In fact, many users demand it.

2. There are some blockchain-based projects that claim to be transforming UGC platforms – such as PROPS, SteemIT, Current Media, Flixxo, etc. But none of these offer a truly democratic way of voting with stakes along with an efficient consensus protocol that scales.

How does the REOS content validation system work?

In our solution, a range for the length of the content validation process is pre-defined, and the content promoter can decide on exactly how long it takes for the validation to complete.   The content promoter must up-vote or down-vote the content in order to successfully initiate the validation process. Once the validation process is initiated, content consumers can come in and up-vote or down-vote the content. A set number of REOS will be deducted from the content consumer’s account once they vote, which will then be put into an escrow account. Once the validation process ends, votes are calculated and then announced. The side with more votes will take all the tokens in the escrow account, and the total tokens will be equally distributed to the majority side members. The other side will not get any tokens back.

TOKEN SALE

Will there be a token pre-sale?

We will conduct the pre-sale on 9:00am PDT April 27, 2018 until 11:59pm October 14, 2018.

When does the token sale start?

Our public token sale will begin October 15, 2018.

What is the total supply of REOS tokens?

The total supply of REOS tokens will be 10,000,000,000, and 50% of total issuance will be sold.

How much will one REOS token cost?

We will distribute REOS Tokens at a price of 1 ETH = 50,000 REOS Tokens during public sale.

Are there any bonuses or discounts available for the REOS token sale?

For pre-sale discounts, please get in touch with us at [email protected]

Where and how will the REOS token sale take place?

Register for an account at https://tokensale.reos.me/user to join the whitelist. After the public token sale begins, you can select Ethereum (ETH) or Bitcoin (BTC) in the user dashboard to buy REOS tokens.

What is the minimum to participate in pre-sale?

100 ETH

What cryptocurrencies are accepted in the token crowdsale?

For our REOS token sale we will accept Bitcoin (BTC) and Ether (ETH).

What is the minimum to participate in the token crowdsale?

The minimum purchase per person will be 0.1 ETH.

What is the maximum purchase per person during the crowdsale?

The maximum purchase per person will be 50 ETH.

Can I send ETH from an exchange?

No, we only accept payments made with your digital wallets.

Which countries can participate in the token sale?

You can participate in the REOS token sale if you are not a citizen or permanent resident from China, US, or if you don’t have permanent residence in countries such as Puerto Rico, the Virgin Islands, and other territories under the United States Control.

We also recommend that you review your country’s specific legislation to ensure you are abiding by the rules of your country.

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Didn’t see an answer to your question? Please send us an email at [email protected]