Ethereum’s Rival Razormind Beginning Crowdsale of its DeOS Tokens

Ethereum’s rival Razormind has released details of the crowdsale for their DeOS tokens ÐEOS, the platform provisioning currency which begins this Friday July 15 at 12pm GMT.

The ÐEOS tokens can be used to register smart assets, register identities, submit smart contracts and further down the line they will be able to be used to purchase decentralized storage.

Confident of security

The company must be very confident of the security and potential of their blockchain and smart contract token based project to go live with this so soon after the problems which have hindered Ethereum’s progress, beginning with their DAO experiment hack which raised concerns about smart contracts infallibility.

Having the DeOS platform built and working two years ago after their feature on ‘Let’s Talk Bitcoin’ Episode 177 they opened DeOS for the ‘Proof of Concept’ stage for 1 month. People had access to the platform, a full desktop, and office. At this stage they had 27,000 daily active users; so they know it works and scales and I believe this has a big part to play in the confidence they have in going forward to the next level. This time around their focus is on smart contracts, a safe public blockchain free for business or personal use.

They say they are a Blockchain firm who build banking use-cases and claim to have over 30 proven built banking use-cases for Blockchain projects delivered through the financial industry, targeting specific pain points.

The company are building these for “signed” banking clients around the world. Razormind’s CEO Jawad Yaqub shared with Cointelegraph the details of the crowdsale.

Question: So when does the crowdsale go live Mr Yaqub?
Jawad Yaqub: The crowdsale starts on July 15th, 12:00 PM GMT. The DeOS crowdsale is supervised by the Omni Foundation. They have access to all transactional information, with their executives serving in the role of trustees for the DeOS tokens. Razormind has no access to these funds without their approval. We are taking great care to secure and safeguard all funds for this crowdsale.

Q: How is the money being put to work?
JY: DeOS money is used to directly fund and maintain the first few generations of the DeOS network. Developing, Deploying, Securing, Testing, Monitoring, Analysing, and Scaling the seed network, the data layers etc. A portion of the cost will go towards developing and releasing the following DeOS Features: Clients for Desktop, Clients for Mobile, Language APIs, Blockchain As A Service, Smart Contracts, Decentralized Storage, Decentralized Computing, Language IDEs and Dockerised Deployment.

It is estimated there will be 1 major release per month with features from the list above. With the final Decentralized Computing release in beta November and live December. As we progress we will release regular updates on DeOS platform progress and spending. Resource estimates and delivery performance will be visible to the community.

This is part of our commitment to transparency. In summary, when you buy ÐEOS, you’re getting early, exclusive access to the DeOS platform. You get a blockchain you can use to register and trade assets, and a place to store information in a secure decentralized cloud. And, you’re joining a family of fellow human beings who want to change how we live in the digital world for the better.

Q:What is the price of ÐEOS?
JY: 16th July – Week 1: 1000 ÐEOS (Ð) per Bitcoin, 22nd July – Week 2: 500 Ð per Bitcoin, 29th July – Week 3: 250 Ð per Bitcoin, 5th August – Week 4: 125 Ð per Bitcoin, 12th August – Week 5: 50 Ð per Bitcoin and 19th August – Week 6: 25 Ð per Bitcoin.

Q: Are there any other ways to get DEOS?
JY: 1. Trade your Smart Assets with others for either ÐEOS or cash. 2. Write a Smart Contract that others pay ÐEOS to use. 3. Buy ÐEOS from banks, shops, or online.

Q: How long will the crowdsale last?
JY:The crowdsale will be open for 42 days or until all Ð are sold whichever is sooner.

Q: How will the sale work?
JY: All you have to do is sign up with your email, receive a BTC address, send as many BTC as you like to it, and wait until the sale is over to receive ÐEOS to that address. Make sure for your own security that you’re sending BTC from an address under your direct control; no exchanges, no Coinbase, no Circle etc.

All bitcoins received will be kept in a multi-sig wallet. This protects the funds received from any one point of failure, whether theft, the loss of a key, or the inability of one holder to access the wallet. Some of the keys will be kept by external accounting firms.

You can register for the sale by sending an email to [email protected] – the sale will begin at 12 noon this Friday.