What is Revain Coin? A Beginner’s Guide to Revain

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What Is Revain?

Revain is a blockchain-based business review and feedback platform similar to Yelp or Angie’s List. Businesses incentivize users to leave public feedback that’s posted to Revain’s digital ledger on the Ethereum blockchain. And users are incentivized to review each other — alongside an artificial intelligence-powered neural network — to determine who earns RVN, the ERC-20 cryptocurrency token of the Revain network.

RVN is then exchanged for R, Revain’s crowdfunding token sold during the ICO.

Revain’s RVN token is not to be confused with Ravencoin (RVN), a completely different project from a different team.

Both users and companies can sign up for a free basic or paid premium account to participate in the Revain review ecosystem. Companies can reject false reviews, much like on Yelp, and the dispute process is arbitrated through a combined AI and human governance system.

Consumer trust in advertising is at an all-time low, with over half of the population in countries like the U.S., U.K., Australia, and Germany associating advertisements with fake news, according to Rakuten Marketing. They’re not far off, but that’s a discussion for another day.

Nielsen’s Global Trust in Advertising reports consistently rank word-of-mouth marketing from friends and families as the most trusted marketing platform. Online reviews come in a close second.

Russia-based Revain is hoping to merge the best of both worlds, starting with its core user base of cryptocurrency project and exchange fans. Peer reviews of crypto projects are hard to come by in a unified spot these days. Publications like Crypto Briefing do what we can, but you need to source the wisdom of the crowd before investing in an ICO, STO, or existing crypto project.

Once it proves this model, it plans to expand to other markets, eventually competing with the legacy platforms listed above, along with Google, Amazon, Rotten Tomatoes, and other user-review platforms.

There are cracks in the project’s armor to look out for too. The double token system, token allocation, and documentation sound more like a spammy email selling appendage enlargement pills than a legitimate business.

To understand the team’s chances, we’ll start by reviewing Revain’s RVN and R cryptocurrency tokens.

The main benefits of Revain reviews are:

1. Quality Feedback. Filtering fake and unreliable reviews helps cultivate trust between consumers and businesses. Also, it revamps the online reviews sector.
2. Rewards. Users are incentivized to give honest and constructive feedback.
3. Unbiased system. Revain system is completely decentralized. It doesn’t require users to trust the platform for justice.

What Problem Does Revain (R) Solve?

Online reviews market is the Wild West where users, businesses, and marketers fight to boost their image and diminish competitors. However, why all the fuss?

Online reviews are a force to reckon with. According to Local Consumer Review Survey 2018, 86% of consumers read online reviews regularly, and 91% of them trust them as much as personal recommendations. Simply put, excellent online feedback means money. Reading reviews is a crucial part of consumer journey and can either make or break deals. That gives businesses, salespeople, marketers, bot makers, and paid review writers enough motivation to skew the reality as much they can for their own benefit.

What makes Revain different from other cryptocurrencies?

1. Revain is the first and only cryptocurrency (as of July 2018) to provide a platform for customer reviews and feedback, making it unique and valuable.
2. Another aspect that makes Revain stand out in the vast and diverse crypto space is the fact that it uses two tokens to keep the internal functioning stable, R being its external token and RVN being its stable internal token.

How Does Revain Crypto Work?

Revain ecosystem consists of several key components, rules, and processes. They ensure credibility of the reviews posted on the platform.

For instance, every user who wants to obtain rewards must first pass KYC application. Also, a regular user is limited to posting five reviews a day. However, project managers mention the possibility that this number will be increased for the most reputable reviewers.

How Does Revain Reward System Work?

Only listed companies can grant users RVN tokens for on-point and high-quality reviews. The award can vary from 0.1 to 100 RVN. You also get 0.1 RVN from Revain for your first approved review.

Some users have reported not receiving RVN tokens despite stellar reviews. It is because Revain still doesn’t have a strong partner network, and not many companies are interested in doing rewards just yet. The situation should change over time.

Does Revain Reward RVN?

Revain itself doesn’t award RVN because the platform creators see an issue in rewarding tokens themselves. If the project did so, most of the reviews would be written about it, which isn’t the goal of the project.

Revain’s Review Automatic Filtering Technology (RAF)

Revain’s Review Automatic Filtering (RAF) technology is the key component of the platform. It automatically filters unsuitable reviews to cleanse the platform from bots, spam, poorly written, and deceitful messages.

The RAF consists of IBM’s Watson Tone Analyzer service, custom filters, and analysis of user history.

Revain User Review Posting Process

Revain user review posting process has the following three steps;

1. When a review is written and submitted, it goes through Revain’s proprietary RAF system. It filters fallacious and poorly written user reviews, spam, fake reviews, abusive comments, and other content which doesn’t generate value.
2. If the review makes the cut, it’s sent to the corresponding organization for manual approval. The service provider either accepts or rejects the review. If the review is denied, the organization must explain why and the response is displayed alongside the review. Such procedure helps to vet fabricated reviews.
3. If the business rejects the review, a user can file a dispute. Revain employs a centralized panel of high-profile, highly-rated individuals called Oracles. If the original review is deemed valid by the Oracles, the user gets a reward, and the company receives a warning. If Revain issues the company three warnings, it is banned from the platform.

All approved reviews are displayed on the business page directory. Afterward, they are saved as a Review Snapshots Storage (RSS) and are secured by the Ethereum blockchain.

Revain users aren’t inviolable, too. There are two occasions in which a user can be warned:

1. If RAF rejects three user reviews during a two-week period.
2. If businesses reject five or more user reviews in two weeks.

Users can collect three warnings. Upon fourth warning, the user is blocked from the system and cannot withdraw any earnings.

Should you invest in Revain coin?

1. Revain’s market cap ranking considering the age of the cryptocurrency is pretty impressive and encouraging.
2. Moreover, the idea is unique, and an unbiased review platform where fake reviews are prevented is something the market sorely needs because customers are often taken in by false reviews and businesses also fail to get proper feedback to work on due to fake reviews.
3. This need, coupled with the uniqueness of the project gives Revain an edge over other cryptocurrencies, making it a token with immense possibilities.
4. Investing in R tokens may not give immediate high returns, but its value is bound to appreciate in the future, making it a good possibility for long-term investment.