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Aventus, a digital assets-focused blockchain-based protocol, unveiled its next code release Aventus Classic, which is designed to build a fairer and more transparent ticketing industry.
In a blog post, London-based Aventus introduced Aventus Classic, a fully decentralized open-source ticketing protocol intended to eliminate fraud and enhance transparency to the event ticketing market.
“This release marks our first real step in engaging with the open-source community, as Aventus Classic will now be open to contributions from anyone and will no longer be solely developed by official partners of the Aventus Protocol Foundation,” the announcement stated.
Boasting a record public blockchain speed of 100 tickets per second, the Ethereum-based protocol provides a unique worldwide open standard for ticket exchange without depending on layer-2 alternatives that lack trust, certainty, and decentralization.
“With this release, we are excited to start properly realising our vision for a more equitable and decentralised ticketing industry,” Annika Monari and Alan Vey, founders of Aventus, said.
The launch overlaps with the Aventus Classic DApp Contest in collaboration with The Satoshi Awards. In the competition, entrants are asked to create a blockchain-based ticketing system. The winner will be offered $15,000 worth of Ether and two VIP tickets for the celebration. The winning platform will be utilized as the reservation system for the first-ever Satoshi Awards, which is slated to happen in mid-2020.
“We are thrilled to have partnered with Aventus and engage the open-source community to help build our ticketing system. We are excited to see the entries start rolling in and couldn’t think of a better way to manage our tickets than through blockchain to promote trust, transparency, and innovation,” Steve Ellis, The Satoshi Awards CEO and Founder, said.
Ireland-based ticketing startup Festy also partnered and signed an investment deal with South Korea’s Kakao to develop blockchain-based payments and analytics application.
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