TAO Network, the smart contract DAO platform for creating and operating decentralised applications is currently offering an opportunity for the cryptocurrency community to invest in the ongoing crowdsale.
The TAO Network is built on a solid foundation with a range of enhancements that make its blockchain more versatile and robust. By using IntelliTx technology, TAO Network offers a content agnostic way of creating smart contracts on the platform, irrespective of the protocol. The user-friendly, privacy-centric platform already has one of the many use cases built in the form of ‘the TAO of Music’.
The TAO of Music
The TAO of Music project is created by a team of futurists and developers to protect and secure artists’ content over a long period of time. TAO of Music is operated as a distributed autonomous organization that can act as a bond between competing blockchain based solutions by various music publishing administration companies.
TAO Network achieves this by creating an interoperable design that can work irrespective of the format of blockchain implementation currently adopted by artists. The TAO of Music is a public ledger that offers a one-point legal access to artists’ catalogs irrespective of the publisher who owns the rights.
To assist with integration and development, the Tao Network has engaged the assistance of Dale Everingham, a sound engineer with over 25 gold and platinum hits to his credit from some of the biggest names in hip hop and R&B.
The TAO Network has made 30 million TAO tokens available for the ongoing month-long crowdsale. Rest of the tokens are allocated for development, marketing and community building exercises. The platform has announced that the value a TAO token will not be more than $1.00 during the crowdsale. Participants in the crowdsale shall receive a 25% bonus on their deposit if the deposit is made prior to Friday, August 5th.
TAO has also availed the services of OpenLedger and CCEDK during the period of the crowdsale for enhanced security and escrow services.
Specifications of TAO Network
Proof of Stake: 4%
Proof of Work Algorithm: X11
Proof of Work Reward: 1TAO per block, halving 26 times
Block time: 7.5m
Block size: 20MB with Adaptive Block Sizes
Alpha (Master) Node Minimum Qualification: 10,000 TAO
Tokens available via crowd sale: 30,000,000 TAO
Total tokens: 32,000,000 TAO
TAO Token Distribution
- 30 million TAO tokens available at the crowdsale
- Over 100,000 TAO Tokens to be used for building the master node on the network.
- The platform has over 250,000 TAO tokens designated for its bugs bounties and awards programs
- 1.65m TAO tokens will be held in a time locked smart contract for four years to be used to establish music technology and blockchain education programs for children in public schools.
The TAO Network crowdsale will end on August 28, 2016.
About TAO Network
TAO Network is an improved, future-proof Blockchain smart contract platform built using Bitcoin code base. The TAO Network, still in its early stage is a content agnostic smart contracts platform. The protocol is currently working on an experimental blockchain based rights management platform called the TAO of Music. TAO Network Investor handbook is available here.