The digital assets-focused blockchain-based protocol, Aventus, revealed its next code release Aventus Classic designed to create a more equitable and transparent ticketing industry.

Alleviate fraud and provide transparency

On Sept 12, Aventus Network announced in a blog post the release of Aventus Classic, a fully decentralized open-source Ethereum-based ticketing protocol designed to stop fraud and provide more transparency to the event ticketing industry. The announcement goes on to say:

“This release marks our first real step in engaging with the open-source community, as Aventus Classic will now be open to contributions from anyone and will no longer be solely developed by official partners of the Aventus Protocol Foundation.”

$15,000 prize fund for blockchain developers

The release of the new ticketing protocol coincides with a $15,000 prize competition for blockchain developers. In partnership with The Satoshi Awards, developers are asked to build a blockchain-based ticketing system, where the winner will be awarded $15,000 worth of Ether. The winning build will be presented at The Satoshi Awards’ in mid-2020.

Ticketmaster tries to tackle fraud

Cointelegraph reported last year that global ticketing giant Ticketmaster had acquired blockchain-focused live events firm Upgraded to tackle issues in the event ticketing industry. The company stated at the time that it planned to use blockchain technology as a way to provide more transparency and better control ticket distribution.