Verity Alpha: The Complete Guide!
Verity is a real-time decentralized oracle capable of extracting the truth from crowds by using the wisdom of the crowd principle and blockchain-as-a-court system.
People (data providers) get paid for providing information around them, while developers can get any real-time data feed cheaply and reliably.
Verity Alpha is the first public version of Verity which is at the moment deployed on Ropsten testnet (This enables us to thoroughly test the edge cases of the system and different use cases before the official launch on mainnet).
All tokens earned on Verity Alpha will be deposited to your wallet address on mainnet which can take up to a few days.
Verity Alpha Demo Events
Through a series of events on Verity Alpha, you can get paid for providing data while somebody else gets real-time data feed.
How to sign up and join the event?
You need to join the event at least 10 minutes before the start.
- Install Metamask extension, open it and create a new account.
2. In Metamask, click on the upper right corner to change to Ropsten Test Network (Verity Alpha is deployed on Ropsten testnet so if you are not connected to it, you will not be able to participate in events).
3. In order to join the events (and later claim rewards), you will need to pay a small amount of gas (mining fee in Ethereum network). In order to do so, you need some test ether in your wallet, so click DEPOSIT in your Metamask wallet, then select GET ETHER (a new page will open), and finally click on the green button saying request 1 ether from faucet. Wait a minute or so and check your Metamask account balance — you should have 1 ether inside (it can take up to 10 min if the network is slow).
You can also get test ether here http://faucet.ropsten.be:3001/
4. Go to https://alpha.verity.network/, sign up, wait for the confirmation email and log in. Then click Settings, check that Wallet address field is correctly pre-filled with your Metamask account and click “Save changes”.
5. Go back to the main page of Verity Alpha, select an event and click JOIN. Metamask plugin will pop-up, then click CONFIRM to confirm joining that event. This action will call a function in this event’s smart contract which will add you as a participant to that event. Joining the event can take from few seconds to few minutes (depending on how fast your transaction will be mined on the Ethereum network).
How to participate and provide the data?
If you provide the same data as the majority will (you form a consensus with them), you will get a part of the reward fund. The faster you provide the data, bigger the reward!
- Carefully note the date and time of the event start and be back at the right time.
- Go to the event and provide the data (e.g. answer the question, recognize objects on image, report required live data, …) by selecting the right values and clicking on VOTE.
3. Wait for others to finish voting and when the consensus (or maximum time) is reached, you will see the outcome of the event. If you were in the consensus, you will get the reward (size of which depends on how fast you reported the data). To read more about what is going on behind the scenes, and how Verity protocol achieves the consensus in a trustful way, read the whitepaper.
4. If you were part of the consensus and you helped to provide the data to a developer, you can now click Claim reward. Click SUBMIT on the Metamask popup and you will soon receive the reward in a form of test ethers to your Metamask wallet.
We will distribute the same reward amount of ETH / VTY that you just received on Ropsten test network, to the wallet you have registered in Verity, on “real” main Ethereum network.
Things to remember
- Verity Alpha is at the moment deployed on Ropsten test network, NOT on the main Ethereum network, this means your “real” accounts and its ethers are ALWAYS SAFE, even in a case something goes wrong.
- You need to be on Ropsten test network with the same account selected in Metamask that you registered in Verity Alpha settings.
- You NEED to join the event at least 30 min before the event starts, otherwise, you will not be accepted to the system (take into account that Ethereum network can be slow, so join at least few minutes before the deadline).
- Ethers you receive are not “real” ethers and you can not send them to exchanges or trade them for other tokens/coins. BUT, you will receive the same amount of real ether on main Ethereum network after the token sale (together with the EVT tokens).
- You will only get the reward if you are part of the consensus (i.e. you provided the same data as the majority of voters) and the size of the reward depends on how fast you reported the data.
- Transactions can take a long time if the Ethereum network is busy, so clicks on SUBMIT in Metamask extension after joining the event or claiming the reward can take up to a few minutes.
You can join Verity Alpha HERE.