TAO Network Announces the Crowdsale of Its Cryptocurrency and the TAO of Music Project

TAO Network Announces the Crowdsale of Its Cryptocurrency and the TAO of Music Project

TAO Network, the smart contract DAO platform for creating and operating decentralized applications is currently offering an opportunity for the cryptocurrency community to invest in the ongoing crowdsale.

The TAO Network is built on a solid foundation with a range of enhancements that make its blockchain more versatile and robust. By using IntelliTx technology, TAO Network offers a content agnostic way of creating smart contracts on the platform, irrespective of the protocol. The user-friendly, privacy-centric platform already has one of the many use cases built in the form of ‘the TAO of Music.’

The TAO of Music.

The TAO of Music project is created by a team of futurists and developers to protect and secure artists’ content over a long period of time. TAO of Music is operated as a distributed autonomous organization that can act as a bond between competing blockchain based solutions by various music publishing administration companies. TAO Network achieves this by creating an interoperable design that can work irrespective of the format of blockchain implementation currently adopted by artists. The TAO of Music is a public ledger that offers a one-point legal access to artists’ catalogs irrespective of the publisher who owns the rights. To assist with integration and development, the Tao Network has engaged the assistance of Dale Everingham, a sound engineer with over 25 gold and platinum hits to his credit from some of the biggest names in hip hop and R&B.

The TAO Network has made 30 million TAO tokens available for the ongoing month-long crowdsale. Rest of the tokens are allocated for development, marketing and community building exercises. The platform has announced that the value a TAO token will not be more than $1.00 during the crowdsale. Participants in the crowdsale shall receive a 25% bonus on their deposit if the deposit is made prior to Friday, August 5th.

TAO has also availed the services of OpenLedger and CCEDK during the period of the crowdsale for enhanced security and escrow services.

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.

The TAO Network crowdsale will end on August 28, 2016.

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 about TAO Network at: http://tao.network/

TAO Network Investor handbook is available at: http://tao.network/InvestorsHandbook.pdf

To participate in the TAO Network Crowdsale, visit: http://tao.network/crowdsale.html

Location: Los Angeles, CA (USA)


Related News

Blockchain-Based Music Sharing Platform Aims At Putting Musicians At Helm, Announces Token Sale

Blockchain technology continues to find inroads into different areas of business and society, especially through the token crowdsale model. The latest company to announce a token sale is Musiconomi (MCI), the Blockchain-based music ecosystem. Musiconomi is the second startup to pass through the cofound.it system for startup ventures, and has already had some success with the Musicion Project, a cryptocurrency and beta music streaming and sharing platform. Musiconomi builds on this Blockchain platform using smart contracts in order to distribute music and provide payment to artists each....

Golem, Described as Supercomputer, Announces Crowdsale, Opportunity to Earn Money

Decentralized global market for computing power, Golem, has announced that its Golem Network Token (GNT) crowdsale will begin on Nov. 11. The announcement claims that the token is a crucial element of the Golem network, and is designed to ensure flexibility and control over the future evolution of the project. Eddy Azar of Golem Project, tells Cointelegraph that the network, which will kick off fully in about six months time, shall be available for any computer to connect to by simply downloading a given program. The Promise of a Supercomputer. Golem has been described by its creators as a....

OBITS Announces First Buyback, Dividend Option and Fiat Gateway on OpenLedger

Cryptocurrency OBITS has called to end its crowdsale with the introduction of its first buyback, a dividend option and a new fiat gateway on OpenLedger, a decentralized trading platform based on BitShares 2.0. The crowdsale, according to OBITS issuer and market maker CCEDK, has managed to raise more than 700 BTC — equivalent to $270,000 — before conclusion. The Danish decentralized cryptocurrency exchange now plans to move ahead with OBITS’ first buyback program, which will take place on February 2nd this year. The new profits “will be used for market-making and to add value to the end....

Universal Music Announces First NFT Band, Kingship

Universal Music Group, often known as UMG, has been a top record label for a very long time – with a big impact on music both from a business and listening perspective. On Thursday, Universal added to their roster of artists with a bit of a twist. Most people are familiar with music group Gorillaz, […]

Synereo Destroys Half its AMP Tokens Ahead of Crowdsale

Distributed app platform Synereo announced that it has destroyed 50% of its native currency, AMP, ahead of a crowdsale, worth roughly $146,221,787 USD on the market. Second Synereo Crowdsale Starting Soon. The move comes just before Synereo’s second round of fundraising in a three-stage crowdsale starting 19 September. The Israeli company originally intended to keep the 731,108,937 now-burned AMP tokens as part of its long-term budgeting strategy. In a statement, Synereo CEO Dor Konforty said it was due to the proof-of-stake mechanism that secures the network. Keeping such a large share in....