FAQs 2018-02-08T02:11:08+00:00

FAQ

The Company

Crowd Machine consists of the Crowd Computer, Crowd App Studio and Crowd Share. The Crowd Computer is a global decentralized app execution engine. It has been designed to execute blockchain smart contracts and decentralized apps that meet any requirement.  The Crowd Computer consists of a peer-to-peer network of Crowd Virtual Machines (“CVM”) that run on the peer devices. Device owners are compensated for the use of their surplus processing power to run the CVM. Embedded in the Crowd Computer is the Crowd App Studio that enables anyone to create decentralized apps without writing code. Crowd Share is a GitHub-like repository of source code that developers can use free of charge to help build their apps.

The name reflects our commitment to enabling everyone in the world, regardless of their location, to be rewarded for their participation in the decentralized app economy.

Crowd Machine is a new company, but the Crowd Machine technology has been in development for many years.

Crowd Machine has 27 employees.

Yes, Crowd Machine is hiring. If you think you have what it takes to join the Crowd Machine team, then send your resume to jobs@crowdmachine.com

Crowd App Studio

It allows App feature and function to be drawn as logic diagrams, making it faster and easier to create apps than current development approaches.

Any type of decentralized or blockchain app.

You can build almost any type of app using the Crowd App Studio and deploy it to the Crowd Computer.

That depends entirely upon your app. You only pay for the Crowd Computer processor time you use.

The best way to predict your costs is to build you app and deploy it to the Crowd Computer test network. On the test network you can simulate user load which will simulate your cost.

Crowd Share

Crowd Share is a GitHub-like source repository enabling the commercialization of source code by the developer community. It allows developers to monetize their intellectual property in an open marketplace.  Crowd Share is a growing repository of ready to use, plug and play, app content allowing applications to be assembled rather than created.  Crowd Share further accelerates app time to market.

Yes, but is specific to the Patterns, Activities, Packages, and Attributes that create apps on the Crowd Machine network.

You can contribute your source code’s logic built as Patterns. You can also wrap any API from an external service or product and place it in Crowd Share for community and customer use.

You can contribute by assembling Patterns for your apps, which are then open-sourced for other community developers to use in their apps.

The Crowd Share compensation model is based on the consumption of Patterns. For example, let’s assume that a Crowd Machine customer is paying $180,000 per annum for their Crowd Machine use. Let’s also assume that the customer is using 10 Patterns contributed by a developer, and that those Patterns represent 10% of the customer’s consumption then the compensation to that developer would be as follows –

Total of customer contract $180,000 per annum
Crowd Share pool 15%
Crowd Share value $27,000
Developer’s compensation $2,700 per annum

.
If 50 customers were using those same Patterns at the same consumption rate, then the developer would be earning $135,000 per annum. The Crowd Share model also takes into consideration the complexity of the Pattern, and allows for derivative works where compensation is distributed across all parties who have participated in those works.  Each upload and download of a behavior from Crowd Share is written to a blockchain which provides a mechanism to trace derivative works and identifies the payment pathway. The technology removes any dispute as to content ownership and rights.

Crowd Computer

A powerful peer-to-peer computational network that leverages global device capacity to power the execution of blockchain and decentralized Apps where owners are paid for allowing their devices to be a part of the App execution network.

Agoric nodes (aka super nodes) generate blueprints that utilize benchmarking provided by activity compute nodes (ACNs) to form pathways from source app Patterns and map to optimal compute resources.

Yes, if it is a smartphone, tablet, laptop, desktop computer, or server.

Crowd App Studio and the Crowd Virtual Machine are available to use now. The Crowd Computer will be available in Q4 2018.

Compared to the public clouds, Crowd Machine is infinitely scalable (limited only by the number of connected computing devices on the internet), and is not cost prohibitive.

Crowd App Studio and the Crowd Computer are proprietary. The Crowd Virtual Machine will be made available as open source in 2018.

Strong Federation consensus is deterministic, where each block is expected to be produced by a single party. Therefore, reorganizations cannot happen, unlike in Bitcoin or Ethereum, where they are an ordinary fact of life. In a Strong Federation, blocksigners need only to obtain consensus amongst themselves before extending history; since they are a small, well-defined set, the network heartbeat can be significantly faster than in Proof-of-Work, where settlement is probabilistic over time.

Maid Safe is a data protection technology whereas Crowd Machine is a decentralized app development and execution technology.

Crowd Machine Compute Tokens (CMCTs)

CMCTs are paid by app owners for the usage of their app on the Crowd Computer.

CMCTs reward node operators on the network for contributing computational and storage resources.

CMCTs also reward developers for their Patterns executed on the network by app end-users.

Because they want to build apps with the Crowd App Studio and have end-users use their app. You can think of the CMCT token payment as analogous to the fees you would pay Amazon Web Services or Google Cloud.

The CMCT is an ERC20 token.

CMCTs will have a fixed supply of two billion (2,000,000,000) tokens and be divisible to 8 decimal places.

Crowd Machine Token Sale

In order to give token purchasers the ability to run apps on the Crowd Computer.

The public sale opens at 0:00 UTC on April 1st, 2018.

The public sale closes at 20:00 UTC on May 22nd, 2019.

The minimum amount to participate in the public sale is 0.1 ETH.
There is no maximum amount.

There is no cap for Crowd Machine’s token sale.

Anyone who makes a minimum purchase, successfully completes all identity and KYC/AML checks and is not from an Excluded Country can participate.

Registrations are open now.

Yes.

US resident public sale participants must successfully complete all required identity checks and Crowd Machine’s Know your Customer (KYC) / Anti Money Laundering (AML) compliance checks.

Yes – unless you are from North Korea, Cuba, Iran, Lebanon, Syria, Libya, Sudan or Somalia.

Non-US residents (who are not from an excluded country) must successfully complete all required identity checks and Crowd Machine’s Know your Customer (KYC) / Anti Money Laundering (AML) compliance checks.

No.

You can contribute as many times as you like during each public sale period.

You can participate in as many public sales periods as you like.

Yes.

Through our token sale portal, participants will be able, in advance, to select the period/s for which they want to participate and pre-complete their participation details, including contribution amount/s. When each sale period opens at 0:00 UTC, pre-completed participants in that sale period will be activated.

For participants before April 21st, 2018 (who successfully pre-complete our KYC/AML checks), tokens will be distributed by April 27th, 2018.

For participants from April 28th, 2018 (who successfully pre-complete our KYC/AML checks), tokens will be distributed within 4 hours of the close of the relevant daily sale period.

Crowd Machine Private Sale

Yes, we are having a private sale.

The private sale start date is January 16th, 2018.

The minimum contribution for the private sale is USD $100,000.

As well as contributing the minimum amount – all of the following additional requirements apply:

  1. US residents must successfully prove accredited investor status
  2. Non-US residents must provide representations that they are a sophisticated investor
  3. Non-US residents must not be from North Korea, Cuba, Iran, Lebanon, Syria, Libya, Sudan or Somalia
  4. Successful completion of all required identity checks and Crowd Machine’s Know your Customer (KYC) / Anti Money Laundering (AML) compliance checks is required
  5. A participant must have legal capacity to execute a pre-order agreement, commonly referred to as a Simple Agreement for Future Tokens (SAFT), which is an investment contract for the future delivery of tokens.
You can contact us directly at presales@crowdmachine.com.

Token Availability, Allocation, Creation & Bonuses

CMCTs will have a fixed supply of two billion (2,000,000,000) tokens and be divisible to 8 decimal places.

The total CMCTs will be divided into five lots as follows:

CMCTs
Lot 1 – Pre Sale Period A 125,000,000 6.25%
Lot 2 – Pre-Sale Bonus Allocation Provision B 500,000,000 25.00%
Lot 3 – Total Daily Public Sale Period Allocations 975,000,000 48.75%
Lot 4 – Community and Loyalty Incentives 100,000,000 5.00%
Lot 5 – Company Inventory Reserve 300,000,000 15.00%
Total CMCTs 2,000,000,000 100%

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A. Private Sale and first 20 days of the Public Sale
B. Unclaimed CMCTs from this provision will be re-allocated evenly across the daily public sale period allocations

Pre-Sale CMCTs will be created after the completion of a successful ISRS4400 audit of the paid-in contributions during the pre-sale period. This will occur before April 28th, 2018.

Daily Public Sale Period CMTs will be created within 4 hours of the close of each daily period.

Yes, there are bonuses for early contributors.

A 0.5x (50%) bonus will apply for all contributions received during the first 10 days of the public sale.

Token Pricing

The CMCT token price is set by the market.

It is calculated at the end of each sale period – i.e.,

  • within 7 days of the end of the Pre-Sale Period; and
  • within 4 hours of the end of each of the 390 daily Public Sale Periods.
The Market Price for each of the sale periods is calculated as:

the total ETH contributed by all participants during the sale period

the number of CMCTs allocated for that sale period

The number of tokens each participant gets is also calculated at the end of each sale period.

The number of tokens each participant gets is calculated as:

the ETH (or ETH equivalent) contributed by the participant during the sale period

the Market Price for that sale period
+
any bonus tokens to which the participant is entitled

Token Payment Methods

Crowd Machine’s preferred payment method is Ethereum (ETH).

We will accept US Dollar – for the public sale, a minimum amount of US $10,000.00 (excluding any fees and bank charges) applies. Where a USD contribution is received, it will be assessed in ETH at the time of receipt (clear of any encumbrances) in Crowd Machine’s nominated bank account.

Cryptocurrencies, other than ETH, which we will accept for contributions will be published on the Crowd Machine website, and updated from time to time. These contributions will be assessed in ETH at the time the transaction is confirmed by the relevant blockchain.

To participate in the Crowd Machine public token sale, you will need to have an ERC20 compatible wallet you control.

Do not send funds from an exchange or enter an exchange wallet.

There is nothing you can do, because exchange wallets often do not offer the ability to send ERC20 tokens.

You can still get your tokens, but you must have your wallet’s private key to send the tokens.

Crowd Machine Tokens – Use of Proceeds

Sales receipts through the public token sale process will be used for:

  • Sustaining engineering and feature enhancement of the Crowd App Studio, Crowd Share and Crowd Virtual Machine products
  • Development of a global developer community
  • Sales and marketing
  • Product and community support
  • Other normal business proceeds

Security

All KYC data is end-to-end encrypted and is passed to our KYC vendor via an API.

Privacy

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