About 2 months ago I created a detailed post about AVA the Travala.com token: https://www.reddit.com/r/CryptoMoonShots/comments/cfwy7j/ava_the_native_token_for_travel_booking_site/
In the last few days the team have just released a new Whitepaper with some very big moves!
Some new items in the last 2 months include:
Binance Chain
The token is migrating from NEP5 (NEO) to BEP2 Binance:
Some Excerpts from the whitepaper: https://whitepaper.travala.com
AVA Repurchasing Plan Travala.com’s AVA Repurchasing Plan will take place every quarter until 21,571,086 AVA are permanently destroyed. This represents 35% of the total supply (the starting supply is 61,571,086 AVA), reducing the overall total supply to 40,000,000 AVA. The amount of AVA to be repurchased each quarter is determined by Travala.com’s booking activity. The first repurchase event will take place in mid-January 2020. The number of AVA repurchased and burned will be determined by the booking activity from July 1, 2019 to December, 31 2019. Once each repurchase is finished, we will share the details via our official social channels and blog in the form of a Repurchase Report. Transactions will, of course, be publicly viewable on the blockchain explorer.
Decentralised Accommodation Booking Under a decentralised model, accommodation seekers are able to book stays without the need for an intermediary. Said another way, individuals seeking to rent an apartment, bedroom, or hotel room can deal directly with the property owner. In this case, Travala.com will act solely as the technology provider to facilitate bookings. Our key responsibilities will include:
Decentralised Governance Any parameter of the Travala.com blockchain software can potentially be made modifiable, with holders of AVA given voting rights on select governance issues relating to the platform. For example, a percentage of every booking could go into a community fund, with AVA holders voting on proposals for how to spend the funds. Proposals could include marketing, development, or anything else that is relevant.
Financial Projections Even though Travala.com has been operational for less than a year, our financial accomplishments to date have been impressive. For instance, Travala.com is already generating over USD $120,000 in monthly booking revenue, a figure that is growing an average of 20% month-on-month. Going forward, we expect our revenue to increase substantially in tandem with our technological improvements, global marketing strategies, and an all around better platform that boosts booking conversion rates.
The Travala.com Blockchain Binance Chain is an innovative blockchain that already provides many of the features necessary for Travala.com’s decentralised future. However, as we progress our decentralised initiatives, we will evaluate whether Binance Chain is able to fulfill all of our technical requirements.
If not, Travala.com will build its own blockchain on the Cosmos network to fully implement its decentralised vision. This will integrate seamlessly with Binance Chain to extend and enhance the utility of our native token AVA through easy transfers between Binance Chain and the Travala.com Blockchain.
Cosmos is a third-generation blockchain platform that improves on generation one (Bitcoin) and generation two (Ethereum) blockchains in several ways. Of particular significance in our context are the following:
Bitcoin and similar blockchains are only capable of transferring funds. Ethereum provides a sophisticated platform for decentralised applications, but for the foreseeable future is limited by its lack of scalability.
Cosmos solves the scaling problem by making each decentralised application its own blockchain. This allows each decentralised application to scale independently. It also enables the customization of each blockchain for its specific use case. Each decentralised application is considered a “Cosmos Zone.” Both the official Cosmos blockchain (“Gaia”) and Binance Chain are Cosmos Zones. Cosmos has far higher customization potential and throughput than the current implementation of Ethereum. Cosmos accomplishes this via Proof of Stake (PoS) consensus, and is the first PoS platform that has implemented a consensus algorithm in a truly equitable way.
In Cosmos, anyone can become a block producing node by staking more than the least-staked node. Currently Cosmos supports up to 100 nodes but the roadmap calls for 1,000. No other PoS blockchain has delivered working code with such a level of decentralisation. A higher node count is important because blockchains with a limited number of nodes are more susceptible to collusion from bad actors.
Every decentralised application (Cosmos Zone) is its own blockchain. Application developers can choose one or more currencies to be their native staking currency, and they have the capacity to set different fees for each currency. The Cosmos SDK provides many features out-of-the-box, including staking, governance, identity/accounts, Ledger hardware wallet support, non-fungible tokens, and more. Decentralised application developers can pick and choose which features they want from the Cosmos SDK, and then create their own modules to enhance and extend those features.
IPFS The InterPlanetary File System (IPFS) is a decentralised file storage system. With IPFS, every file is referenced by its Content Identifier (“CID”), which is a unique hash of the file it represents. This means that every file in IPFS is tamper-proof, immutable, and referenced by a hash rather than a URL (as in the status quo). The hash that represents each IPFS item can easily be stored in the memo ID field of a transaction on the Binance Chain. Travala.com will use this technique to associate otherwise arbitrary data on the blockchain, thereby ensuring the data cannot be manipulated by an attacker. IPFS plays a key role in our leading edge decentralised booking and review platforms, which we cover in more detail below.
Official Travel partner for
- DGB: https://blog.travala.com/travala-com-joins-forces-with-digibyte-as-their-recommended-travel-partner/
- Korea Blockchain week: https://blog.travala.com/travala-com-becomes-official-travel-partner-of-korea-blockchain-week-2019/
- Waves: https://blog.travala.com/book-with-waves-travala-com-becomes-the-official-travel-partner-of-waves-platform/
- Zcoin: https://blog.travala.com/travala-com-joins-forces-with-zcoin-to-become-their-official-travel-partner/
In Summary
- Big Moves
- New usecases
- Vision just doubled from Hotels etc to hosting and Airbnb style
- New goal for Global API supplier
- New Decentralized vision
- New Blockchain
- Buyback and burns
- New team members
- Kicking ass
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