The DataMining App will automatically reward users with SVN tokens

This is the second of a four-part series describing the key elements of the Svandis ecosystem: (1) Svandis Research Community & Analytics Team (previous), (2) the DataMining App (this article), (3) Certified Reviewer & Researcher Gamification, and (4) the Svandis Marketplace for third-party access.

A significant component of the Research Community is the Svandis DataMining Application. In addition to the rewarding of SVN tokens for the manual submission of data on crypoassets, Community Researchers will be automatically incentivized with SVN for running the DataMining app on their devices.

Structure and Roles Within the Svandis Ecosystem.

What is the Svandis DataMining App?

Svandis will offer users a data-mining functionality by using the cross-platform DataMining Application. The DataMining App is an open-source crawling application that users can install on their computers to participate into data crowdsourcing. Crawling is systematically visiting a number of web pages in order to create and index data. The DataMining App is an automated software that crawl websites, grabbing copies of pages to index.

How does the DataMining App work?

Receiving tasks from the Svandis command server, the DataMining App will grab website pages and social media content (all with user permission) to enable the analysis of a vast quantity of historical and real-time data. Once the encrypted data is sent to the Svandis servers, it is processed using machine learning algorithms to allow correlation analysis of variables affecting a cryptoasset’s price. This automated process will increase the speed and accuracy of the Svandis Newsfeed and Catalyst Analysis features (to be described in subsequent articles). Svandis will not collect personal data of any kind; Svandis adheres to the highest security standards with regard to personal information.

The type of data a miner’s device will grab will depend on the strength of their internet connection and device’s computing power. For example, those with a faster internet connection and a computer of higher processing power may grab real-time data, which should be more readily available to users in the Svandis ecosystem (e.g., prices, volume, news, etc.); those with a slower internet connection and a device of lower processing power may grab historical data.

The Svandis DataMining App Process — from installation to end user

Is the DataMining App is safe to use?

Yes. It is a program that will run on the background of a user’s device, including computers and smartphones. The trust of our users is paramount, so this application will be open source. The default processing option will have minimal impact on the performance of the user’s device. Users will be able to change the power demand of the DataMining app to process data at a higher rate (increased effect on device performance) or lower rate (minimal effect on device performance).

How the Svandis users will be rewarded if they install the DataMining App?

Users running the DataMining App on their computers will be rewarded with SVN tokens. After receiving data from a user, the Svandis API (Application Programming Interface) will trigger a Smart Contract that sends a specific amount of SVN tokens to the user’s wallet. Each user will need an ERC20-compatible wallet to receive SVN tokens.

Do I have to pay to install the DataMining App?

Installing the DataMining App is free. Svandis will never ask users for payment to use.

Do I need to have a Svandis account to install the DataMining App?

Yes. While anyone can install the DataMining App on their device and participate in the Svandis Community, a Svandis account is required.