Blocktix (TIX)

Decentralized Event Hosting and Ticket Distribution Network

Whitepaper

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What is Blocktix

The core purpose of Blocktix is to provide a decentralized event hosting and ticket distribution network. Companies and individuals can buy and sell tickets through unforgeable cryptographic signatures stored on the blockchain. With this approach, we have simplified the process of buying and selling tickets and removed the infrastructure of centralized servers. Both parties can therefore enjoy the lowest fees and no downtime due to the decentralized nature .

Anyone who possesses enough tokens can create events and sell tickets online without worrying about any of the additional complexities that are typically encountered. Blocktix provides a user-friendly interface for the execution of smart contracts, bringing its advanced capabilities to the masses with an intuitive application. This approach reduces the complexity of the interaction with smart contracts and provides an additional layer of security minimizing the possibility of fraud or malicious third party interference with the application due to the standardization of contracts.

The BlocktixEvent contract is what houses everything related to one specific event. It is brought into existence by the Blocktix contract when creating an event and the creator address is given administrator privileges. Only that address is granted the permission to change settings such as name, location, description, photos, etc. Nevertheless, it is possible to add extra administrators to the event.

Anyone will be able to create an event, but it will only show up on the event feed if the event is backed by a minimum of 1000 TIX. The required value for listing will be voted for by the token holders every three months. Non-token holders can still ask token holders to back the event, as a willing token holder could allow anyone to make use of the event feed.

Security. There is a chain of contracts when creating a new event in the system. This ensures the sanity of the contracts being loaded and thus essentially disallowing attackers from launching their own malicious contracts and inserting them into the Blocktix system. Event creators call the Blocktix contracts (retrieved by BlocktixRegistration) which in turn create the BlocktixEvent contract, thereby removing the possibility of tampering.