What Is Revain (R)?
Revain (R) is a Russian business review project running on the Ethereum blockchain. The team is hoping to replace sites like Yelp and Angie’s List with a decentralized replacement. The network promises authentic feedback and democratized social regulation to ensure a fair system for both customers and businesses. Of course, sites like Amazon learned the hard way reviews can be easily gamed, and Revain’s system gives that power to businesses.
R and RVN are the proprietary ERC-20 tokens used by the Revain platform. RVN is a stablecoin meant to stabilize volatile cryptocurrency pricing. If only the platform can get users onboarded, which isn’t an easy task.
Who Is Revain?
Revain was created by CEO Rinat Arslanov, CTO Alexey Agramov, and COO Alexey Belashenko. They since onboarded over a dozen team members. The company is working on forging partnerships, but nothing much has been set in stone since Fourty Seven Bank in 2017. They ended the year hinting at a Huobi partnership, but it’s not even listed there, so a full-on partnership seems unlikely.
Use Cases of Revain
Yelp seems like an innocent site, but it’s ground zero for a massive legal battle regarding online reviews. In fact, it almost made it to the U.S. Supreme Court. Businesses contend Yelp is responsible for defamatory reviews posted on its platform, but Yelp obviously disagrees. The Supreme Court does too, and it ruled Yelp does not have to remove reviews.
Still, this contentious relationship has some businesses looking for another way. Yelp has massive SEO, so it won’t be easy for Revain to take any market share. It’ll be interesting to see if it can build both sides of this struggling two-sided marketplace.
How to Mine R
R and RVN are ERC-20 tokens on the Ethereum blockchain. Neither is mined, and is instead earned via network participation. RVN’s price is stable at $1, but R fluctuates. The total token supply is 484,450,000 R, and it reached an all-time high value of $4.49 on February 18, 2018, according to CoinMarketCap.
Learn More About Revain
If you want to learn more about the Revain, check out this comprehensive intro guide at WeUseCoins. Or check out this comprehensive analysis report on the Golem blockchain project on Thought for Your Penny.