Lyves
About Lyves
Blockchain is the backbone of Bitcoin and most other digital currencies.
Ultimately, an openly visible general ledger, which transparently documents
all transactions made. This general ledger is not stored centrally, but is stored
and updated on many different computers - the so-called “Nodes”. The
decentralized storage and mining process (Note: the mining does not have to
occur with every Blockchain) ensures that a Blockchain does not have to be
managed by a central authority.
The Blockchain can be imagined as a chain of blocks in which transaction
data is linked with each other. The transactions are grouped into blocks,
validated, and added to the previous chain in a process called “Proof-ofWork.”
The Proof-of-Work approach requires the solving of arithmetic problems,
which can only be done by frequent testing. This ensures that sufficient work
is invested in the calculation and hedging of transactions. The Proof-of-Work
approach is extremely energy-intensive, raising both high electricity and
hardware costs, making the attempt of fraud useless.
In addition to the Proof-of-Work approach, there are other procedures, such
as the Proof-of-Stake approach, in which the proportions (Tokens or Coins)
are of a decisive nature rather than the computer capacities.
Features
- With Lyves the buyer have possibility save 50% of the
transaction fees if he/she submits a review (min. 50 words to max.
300) after a successful purchase. The refunded money is part of the
transaction fee, which is double the usual amount. If no review is
written after a purchase, these 50% of the fees will not be
refunded, but stored in a pot provided by Lyves. On the first of
each month the savings will be paid out to all Token holders and
sellers who have already attained various awards.
- “Feedback-Function”. Every buyer has the opportunity to write a
review about the completed purchase. The buyer is rewarded with a
credit note for each review written for a completed transaction.
Thanks to Blockchain, the reviews are stored dezentralised and in
an unalterable way. The more positive feedback a seller has, the
higher the “Trust Flow”.
- Trust Flow. The higher the trust flow, the more trustworthy a
seller is. Sellers have the opportunity to receive awards by
collecting particularly positive feedback. The higher the markup
level, the higher the cashback.
Lyves Roadmap
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December 2015
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Birth of the idea.
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March 2016
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Starting Lyves.
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March 20 - March 27, 2018
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Pre-sale runs.
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April 1 - May 1, 2018
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Token-sale runs.
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May 5-10, 2018
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Lyves launch.
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May - June 2018
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Tokens added to exchanges: Binance, Etherdelta.
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June - July 2018
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Coorperation with new partners.
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Q3 - Q4 2018
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Working on having Tokens added to Poloniex, Kraken, Bittrex and others.
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Q2 2019
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Lyves marketplace-platform beta starts.
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Q3 2019
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Lyves marketplace-platform beta finished.
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Q4 2019 - Q1 2020
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Final version of Lyves marketplace-platform published.
Activity
Lyves Team
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