Why do you need ZVR tokens instead of bitcoin which already exists?
It is explained in the MoviesChain project White Paper that the ZVR token is a core component of the MoviesChain ecosystem and is designed to facilitate operations. It’s used as means of payment on the platform to get an access to exclusive video content, moreover clients who hold ZVR tokens also entitled to participate in the Customer Awards Program. More on that is in the White Paper.
At its core, MoviesChain by TVzavr’s embedded, immutable, and transparent accounting practices, as well as attractive pricing, will restore trust and confidence to creators of original content, thereby securing artistic freedom of expression.
Hello, You said that more info on the Customer Reward program is in the White paper. I can't find it. Could you please, give more info here or at least give the White paper page number?
Hi, sure. Here you go (page 19 of the White paper):
The MoviesChain by TVzavr platform will allocate 10% (less rights holders’ shares) of
weekly revenue to a bonus pool. This system of revenue collection will be 100% transparent,
and all customers will have the ability to check the collected funds in real time.
Once a week, at midnight on Sunday (12:00 AM GMT), there will be a special contest,
using the following smart contract algorithm based on the following conditions:
1. The key component of the reward program is the final hash code generated on the
Ethereum network by midnight on Sunday. This hash code will be used as a seed
in a random number generator embedded in the smart contract. Six winners will
be determined from the output of the MoviesChain by TVzavr random number
generator.
2. The algorithm used for generating random numbers can only influence existing
wallet balances. The more funds owners have in their accounts, the greater their
chances of winning. Having a large balance does not guarantee a win; however,
it does increase the chance of winning.
3. Six wallets are selected by the smart contract, and the bonus is awarded, according
to the following formula: 30% to the winner, 40% to two second places (20% each),
and 30% to three third places (10% each).
4. Every MoviesChain by TVzavr customer that has made at least one purchase during
the current week is able to participate in the Customer Rewards.
5. Within 48 hours of their being announced, ZVR tokens will be transferred to the
wallets of winners. This Customer Reward program will further incentivize TVzavr
MoviesChain’s customers to spread the word about the platform, thereby increasing
the growth of our customer base.