Latium offers blockchain-based microtasking over the Ethereum network. Find out what that means today in our Latium review.
What Is Latium?
Latium is a blockchain platform that offers decentralized “microtasking” jobs over the Ethereum network. You might see a posting like, “Watch my film school project” with a reward of “250 LAT”, for example. You complete the offer, earn the reward, and make money over the internet.
Latium pre-sale and token sale are underway throughout August and September. Tokens are available at a rate of 1 ETH for 150 Latium.
Overall, Latium claims to be the world’s first decentralized microtasking platform. It connects people who need to complete tasks with those who are willing to complete the work. Payments are credited in real-time over the blockchain.
Think of it like Fiverr or Freelancer.com – but built on the blockchain for lower costs and better efficiency.
How Does Latium Work?
Latium, like other decentralized networks, is built in a peer to peer environment. Latium uses the Ethereum blockchain, and its Latium token (LAT) is an ERC20 token. That token is the payment method for everything on the platform.
Typically, today’s freelancing and microtasking platforms use fiat currency to purchase labor. Think of Fiverr and Freelancer, for example, both of which take enormous fees from individuals. These platforms are also filled with problems regarding user disputes, high fees, and incomplete work. Latium believes there’s a better solution built on blockchain technology.
Latium uses proprietary credit algorithms and the Ethereum blockchain to eliminate unresponsive employers and employees, fake jobs, and unpaid work. Users will communicate directly, with no interference from a third party, which streamlines the tasking process. The end result is lower fees for users and a more efficient microtasking process.
Some of the examples posted on Latium.org include:
“Help me write lyrics for a song. I have the melody written, but I just can’t come up with catchy lyrics.”
“Subscribe to my YouTube channel. I’m trying to get to 1,000 subs. Help!”
“Watch my film project.”
“Fill out my survey”
Rewards range from 150 LAT to 1,000 LAT. Users can set their own rewards. Once the task is completed, the reward is paid automatically.
Essentially, Latium encourages the posting of tasks that involve a simple job for a small reward. It’s not designed for larger projects. It’s designed for fast, simple projects able to be completed by someone over the internet. You can supplement your income and participate in the crypto-economy.
The Latium client will be available over your internet browser, or through an iOS/Android app.
Latium advertises all of the following features:
Clients can create tasks, select their desired applicant, and verify the task has been completed according to their standards. Once the task is complete, Latium will charge a nominal service fee.
Clients can apply for tasks, upload task-related documents and files, mark tasks as completed, and request payment.
All users will receive a score based on a proprietary Latium algorithm. The score will ensure task doers and task makers are working with the best people based on their previous work.
Latium Transfer System:
Latium will include two payment transfer options. One option will be an internal system that’s real-time and does not require confirmations from miners and will be 100% free. The other will be blockchain-based and require miner confirmation.
You can make a commission of referred users in LAT.
Users will have editable profiles with avatars, bios, and other information. This allows task makers and task doers to get a view into who they are working with.
Latium features an in-client chat system available to all clients.
Groups can work together through Latium to achieve a common goal. 2 or 3 users can work together, or 200 or 300 users could work together on a larger project. Latium has designed their system to be flexible for multiple types of projects.
Task Search System With Filters:
Users can find specific tasks that coincide with their abilities.
Who’s Behind Latium?
Latium was created by a team of developers who first built the concept in Q3/Q4 2016. Latium.org appeared online in Q2 2017, while the token sale took place throughout Q3 2017. Both an alpha and beta release are scheduled for Q3 and Q4 2017, with Google Play and iTunes App Store releases coming in Q1 2018.
In terms of developers or the management team, Latium has published no information about its team online through Latium.org or its whitepaper. There are no authors listed on the whitepaper. That’s a bit unusual.
Latium Token Sale
There will be a fixed supply of 30 million ERC20 tokens called LAT. Latium initially released a token called Latium Classic. All Latium Classic holders can transfer their Classic tokens into Latium (LAT) at a rate of 1:1 throughout the crowdsale.
The funding cap is 67,5000 ETH. You can visit Latium.org to learn how to take part in that sale. There will be a pre-sale period (during which you can purchase Latium Classic); a Phase 1 sale (for Latium Classic holders only); a Phase 2 sale (a token sale open to the public); and a Phase 3 sale (all remaining tokens sold).
Latium is kind of like Fiverr – but built on the blockchain to enjoy the benefits of decentralization. Users can participate in a decentralized, peer-to-peer ecosystem where they exchange LAT tokens in exchange for small tasks. One user might give you a few pennies to subscribe to a YouTube channel, for example, while another user might give you a few dollars to write a song.
Latium also has tools in place to promote high-quality users, prevent scamming, and encourage a positive community. The Latium token sale is taking place throughout August and September. Visit Latium.org for more information about the world’s first decentralized microtasking platform.