The BlockPool Token Exchange Campaign (TEC) has started out and already, the project has been able to gather over $217 thousand dollars. Project backers can make contributions in the form of Bitcoin, altcoins and even fiat, for which they will receive Blockpool tokens (BPL) which are currently being sold at $10 per unit.
The Token Exchange Campaign currently being hosted by Blockpool aims to fund the development and marketing of the Blockpool platform, a Delegated Proof of Stake (DPoS) blockchain that will allow companies to apply DLT to their infrastructure in a simple and cost-effective manner without the need for extensive research and previous technical knowledge on how blockchain technology or a specific blockchain works.
BlockPool, as a company, will also focus on providing a wide range of consultancy services and blockchain-based tools that can be applied in multiple industries such as Arts & Media, Fintech, Brands, Music & Sports applications.
These tools are available in the BlockPool platform, a masterchain that allows companies to deploy their own sidechains which can be customized to suit each company’s needs. These sidechains can be public, private or even pseudo-private, making it possible for companies to take advantage of platform plugins to facilitate communication with existing legacy systems, a feature that allows the two to share datasets, speeding up business transactions, and facilitating data storage.
These sidechains, not only allow companies to choose their level of privacy, it also allows them to work with more familiar tools like fiat pegged tokens, plugins that facilitate intersystem communication, file storage, and more.
BlockPool’s DPoS system will see 201 delegates within the network, ensuring that the network remains semi-decentralized, a solution that BlockPool considers more effective and “preferable to to traditional decentralised digital currency systems.” The whitepaper reads:
“This system is attractive to the private Blockchain requirements of medium to large businesses who may be part of a large network but have no requirement for full (public) decentralisation.”
The funds gathered during the Token Exchange Campaign will fund the development of the aforementioned tools. However, during the campaign, these funds will be held in an Escrow and released on a milestone system, ensuring that developers cannot abuse the funds gathered and thus protecting the investors. A special program will also see 5% of all net profits generated by BlcokPool distributed to all BPL holders as a revenue share.