Industry News

Aventus development brings blockchain to wider audience

Blockchain-based ticketing firm Aventus is aiming to bring its open-sourced platform to a wider audience with the development of its Aventus Protocol.

The Aventus Protocol operates as an open-source initiative that aims to set a global standard for secure and transparent ticketing within the events industry.

The non-profit foundation, which raised 60,000 Ether via a crowdsale in 2017, will serve as an entity tasked with supporting open-source projects built using the Aventus protocol.

The development will encourage the growth of the firm’s ticketing ecosystem, while also protecting the rights of holders of AVT, the Aventus cryptocurrency.

The Foundation’s first move will be to assess the applications from technology companies seeking to join the ecosystem. It will then look to award grants to the most enterprising projects that seek to build upon the protocol.

Aventus uses smart contracts that operate on the Etherum blockchain, and will be encouraging developers to create service layer applications that connect with this via API. Supported projects will include dApps and blockchain scaling solutions created by third parties.

The foundation has set several key objectives, including promotion, adoption and awareness of the Aventus protocol.

There are three layers that make up the project, the first of which is the protocol layer of Etherum smart contracts, which is the backbone that allows for creation and validation of events and issuance and sale of ticket in both primary and secondary markets. 

Next is the service layer, which is built upon the protocol layer and maximises the efficiency and ease-of-use of the underlying protocol. Finally, the application layer allows for the construction of easy-to-use apps for the creation, management and sale of event tickets.

Image: Aventus