Mosaic aims to establish a decentralized network to solve two problems for individuals looking to research crypto assets. Firstly it can be very time consuming to collate all the required data for a particular asset and secondly it’s difficult to assess the validity of the available data.
Much of the data is provided by individuals that have a stake in the project, so it’s not too surprising that their opinions are not always reliable. John McAfee recently announced that his company is paid $105,000 to tweet about various projects, but he countered this by saying he rejects more proposals than he accepts.
The intention is for Mosaic to address these issues “by providing a database platform and decentralized market intelligence network with an intuitive user interface. We believe Mosaic will become the main crypto assets app—the gateway to the crypto world—where people get their data and research, discuss ideas with other members of the community, and manage their portfolios through the Mosaic meta-exchange”.
Their whitepaper details precisely how this will be implemented and how trust will be built upon the network. Contributors to the network are verified based on the following criteria:
- Accuracy of posts
- Quantity of posts
- Quality of posts, defined by a set of algorithms based on user ratings of research and researchers
- Length of membership of both the contributors and the users who give feedback on contributors’ work.
Contributors will receive Mosaic tokens (MZX) on a monthly basis, and each time they provide an article they will be staking tokens until the community has validated the content. Facebook uses likes, Reddit upvotes, Medium claps and Mosaic has encompassed smart contract technology for the community to rate posts and authors. The same smart contract is used to award tokens to the author or to confiscate their staked tokens if the article is downvoted by their peers.
Confiscation of tokens is required because, unlike centralized networks, the content can’t simply be removed from the blockchain. If an article is deemed to be inaccurate, the Mosaic network flags it and ensures it’s not presented on the dashboards of network participants. The research network will evolve based on the needs and responses of the community members.
Mosaic also has a proprietary database (MDP) which uses the following metrics to rate crypto assets:
- Trading data
- Network data unique addresses
- Wallet data
- Mining data
- Reported numbers from projects
- Social sentiment analysis
- Tech activity analysis
The token sale will distribute 75% of the 1 billion tokens to the community with the balance being 5% for partners and 20% for the development team. The first distribution will cover 250 million of the total tokens and is expected to begin in Q2 2018. Proceeds from the token sale will be allocated thus:
- 55% – Core Product and Technology
- 15% – Operations
- 20% – Sales & Marketing
- 10% – Legal and other expenses
Mosaic co-founders are Dr. Garrick Hileman and Alex Bradford, their profiles and those of the rest of the team can be found on their website and in the whitepaper. The proposed user dashboard for community members looks to be very well designed with data feeds for news, charts, and overall portfolio holdings.
Further details are available on their social media channels:
Best of all, you can sign up for their airdrop right now here.
Financial analyst, smartphone app designer, technical writer, and crypto enthusiast. Blockchain verified graduate of MOOC 9, DFIN-511: Introduction to Digital Currencies, run by the University of Nicosia.