The TAO network has announced the launch of a public crowdsale for its tokens. Calling itself a “future-proof” Bitcoin-based DAO platform, TAO network aims to provide tools for building decentralized applications.
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With its “IntelliTx technology,” TAO Network offers what they call a “content agnostic” method of building smart contracts, meaning that contracts can be developed with any protocol. The team behind the platform also claims that the network is “user-friendly” and “privacy-centric”
The platform already has a proof of concept to show off: the TAO of Music. This project was created by a team of futurists and developers as a means to protect artists’ content over long periods of time. The project works as a DAO, acting as “a bond between competing blockchain based solutions by various music publishing administration companies,” according to the TAO team.
In their month-long crowdsale, the TAO team have made 30 million tokens available, which are guaranteed to stay at or below $1.00 in price. Deposits made in the crowdsale before Friday, August 5 will get a 25 percent bonus.
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.
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.
Know more – http://tao.network
TAO Network Investor handbook is available at – http://tao.network/InvestorsHandbook.pdf
To participate in the Crowdsale, visit – http://tao.network/crowdsale.html
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