Cryptotask — Live Ethereum DAPP
Today I am starting a new series of posts, covering Dapps (Decentralized Applications) that are Live and can be used right now. 2018 in my opinion is the year we will for the first time see regular users use Blockchain based products. I want to support this progress by showing the products that are actually Live today.
I am using state of the dapps as a reference and filtered all DAPPs that tagged themselves as being Live. Using a questionnaire as the template I am interviewing the founders of these projects, hoping that this format will make it easier to understand the projects and what their contribution to the Ethereum Ecosystem will be.
Cryptotasks is the first DAPP that I feature. I conducted an interview with Vedran Kajic:
What is your project about?
Cryptotask introduces a decentralized task market based on blockchain technology that disrupts current freelancing systems.
The key innovation is a commercially scalable consensus mechanism with reviewer board selection built into the blockchain, including the escalation option that satisfies Nash equilibrium.
Cryptotasks will eliminate the fees that centralized services like
and it has a very unique and scalable dispute system, that no centralized platform offers.
Do you have your own token?
Yes, it is called the Cryptotask Token, shortform is CTF https://ethplorer.io/address/0x4545750f39af6be4f237b6869d4ecca928fd5a85#pageSize=25
What is the purpose of the token?
The token has two functions. It is used as a payment for the task, and it is also the token used for the dispute resolution. Any Stake holder can be choosen to solve a dispute.
How many Token holders do you have?
Number of Transactions of your token?
Do you offer your own Wallet, or metamask or similar?
At this stage we are using Metamask. Later on we will create our own wallet which will be part of the User Interface. We are also looking into integrating payment providers, so Users can pay with any currency, even PayPal. This will be more comfortable to the User.
Did you have a token Sale? When?
We just finished our pre-sale and now the ICO is running until the 10th of March. The token is minted during the token sale, meaning only the amount of tokens will be created that are sold during the ICO.
One interesting part of using the ICO funding, is that token holders will vote on fixed milestones. A positive vote will release funds for the next milestone to the developers. This is repeated until the funds are spent.
If the community decides at some point that they will not release the funding, the remaining funds will be returned to the token holders.
A very democratic way of handling the funds and reducing the risk for token holders.
How much do you intend to raise in the token sale?
Cryptotask has a hard cap of 10'000 Ether. We already managed to reach the soft cap in our pre-sale, which is 1'000 Ether.
Do you have an entity?
No, we have not created an entity. Most likely we will create an entity after the token sale.
When did your product go Live?
We released the product a few days ago, on February 2nd 2018.
What is the Status — MVP, Basic Product, Advanced Product, Final Product
The product already has the basic functions and can be used. So I would say its the basic version of our product. As mentioned before we will use the funds from the ICO to build on top of the product, for example the wallet and payment provider integration.
Do you have a date for the final product?
I don’t think the product will ever be final. We will always try to improve the product and will seek input from our community on features to be added.
Do you generate any Revenue yet?
The platform itself does not generate revenue overall. We believe in the token as a business model. If more people use the platform the more the value of the token will increase. The Founders are receiving 20% of the tokens from the token sale and we believe the token value will increase.
As it is a truly decentralized product the only way to generate revenue for any token holder is to stake tokens and become a reviewer. A review panel with 10 randomly selected members on average solve disputes. Those who voted in the consensus (majority) receive a share of 10% of the amount that is on dispute.
How many people work on your project?
There are 5 people working on Cryptotask fulltime. In addition there are 5 to 6 more people helping out whenever they are needed.
Please break down the positions and number of people per position (e.g. Developer, Marketing, Communication, Support, Finance etc)
As there are only a few good Solidity Developers in the world, we don’t have many devs overall. We have one solidity developer and two frontend developers. In addition we have support staff working 24/7 on our main channel on Telegram and other channels, but outsource our marketing and communication.
We are definitely open for more people to join our project. It would also be great to have more Advisors. We really appreciate knowledgeable people but it is hard to get the right people involved.
Employed or contractors?
As we are not an entity we don’t have any employees. Our Co-Founder has his own company that employs some people that support us.
How do you onboard users?
That is definitely a huge challenge. Our idea is to have a lot of tasks on our platform. We already had a great task completed for Net Neutrality, which offered 40.000 CTF for a protest outside of the New York Stock Exchange.
This was even covered on CNBC
In addition we want to provide an easy to use payment system by adding payment providers, so any currency can be accepted by our platform.
What is your Marketing Budget?
We will use 30% of the money that we raise in our token sale for marketing. If everything goes well, this will be 3.000 Ether.
This Budget is sufficient for everything we want to do.
What is your Target Group?
People that are unable to work in the centralized markets because of censorship or that want to evade the high fees that other centralized competitors ask. These fees easily eat up 20% of the earnings of the provider.
How will you maintain the Dapp?
Most of the Development in the future will be funded by the token sale. This will cover maintenance but also increase of features, like creating our own wallet.
Explain your architecture and how you decentralize it?
We are already completely decentralized. Our Backend consists of a platform contract and a token contract. Our frontend is simply the Java Script on our website, just as every developer could create his own frontend and use the smart contracts.
There is no private key or other information stored on our servers.
All information on every task is stored on the Blockchain. The task is simply a string, a description of what needs to be done.
We are looking into using Storj as future decentralized storage, for pictures, videos or other content.
Even the User Login is simply the public address, we don’t store a user name or password.
Is your code Open Source? Github Account
Yes our code is completely open source. You can also verify on Etherscan that the code that is uploaded is verified.
Here is our link to Github: https://github.com/vkajic/cryptotask
How will your product scale? Do you have any solutions if the blockchain you rely on will not scale, or fees increase?
As every Ethereum based Dapp, we are depending on the scaling of Ethereum.
The dispute resolution though is created in a form that does not need any scaling, though. As the number of tasks grows gas requirements don’t increase. Scalability is achieved by each stakeholder checking off-chain that they were selected into a review panel and only proving that later on-chain.
If the platform grows in popularity, and Ethereum does not scale we could even fork Ethereum and ban every other Dapp from this forked chain. We have to be very popular to do so, or the mining power will not be strong enough. This sounds like a very radical solution, and I am surprised no one has mentioned such a solution until now.
Where can people find your project?
“This series will continue. If you want me to cover any other Live project, please leave a comment.”
About the Author:
I am a former Advisory Board Member of the Ethereum Foundation, the CEO of Old School GmbH, Business Hive in Swarm City and Advisor to a few Blockchain based Projects.
I like to simplify things. Nothing written in my blog posts is scientifically researched and only reflects my personal point of view. I use naive logic and have come quite far doing so.
Place your spare Ether or ERC20 tokens here: 0xfc394e19c45370b57b157DEc58674CbFd77A9bee