AppCoins: a cryptocurrency for app economy
App economy is rapidly growing with the adoption of smartphones as an indispensable item for everyday life. It is estimated that by 2020 4 billion people will have a smartphone. Still, app economy remains non-transparent and riddled with problems:
– Mobile advertising is inefficient
There are several intermediaries between the developer and the user which reduce transparency and lower potential return for developers.
– In-App Purchases (IAP) are virtually inaccessible
Only 5% of smartphone users are making in-app purchases, while overall costs are increased due to the involvement of payment intermediaries.
– Insufficient app approval process
It is still difficult to confirm the identity of developers, and app stores use different approaches to authentication.
AppCoins offers a blockchain- and token-based solution to the above problem for all stakeholders:
– Users will get a trusted environment with new purchasing possibilities
– Developers will get a transparent and efficient way to monetize their app and build reputation within the community
– App stores will get a new universal framework that ensures trust and eliminates intermediaries
The AppCoins ICO is covered extensively in a lengthy whitepaper. The bulk of the whitepaper is devoted to the protocol description and versions of its implementation for various blockchains, including Bitcoin, Ethereum, Lightning Network, and Tezos. Related projects such as Brave and Kin are also outlined.
Developers will be able to advertise their apps or games paying the user AppCoins for 2 minutes of attention. Blockchain is utilized to provide proof-of-attention and guarantee against fake identities and double attribution.
– In-app Purchases
AppCoins provides a solution for digital item billing and purchase inside games and apps, operational across all app stores.
– App Approval
AppCoins introduces a trust model where developers are ranked as “Trusted”, “Unknown” or “Critical” depending on their track record on the blockchain.
AppCoins is built by the same team that launched Aptoide, one of the world’s largest Android app stores. The CEO and founder is Paulo Trezentos, the founder and maintainer of LinuxCM, a Linux distribution with 700 000+ users between 2007 and 2011. The COO and co-founder is Alvaro Pinto, the former President of ESOP, Portuguese Association of Open Source Software Companies. The advisors include Chris Miess, of TenX, previously of Goldman Sachs London, Ryan Terribillini, Head of Platform Partnerships and Developer Relations in Ripple, Adam Stradling, co-founder of Bitcoin.com, and Gaurang Torvekar, of Indorse and Attores
Aptoide app store adopted AppCoins in Q3 of 2017 to unify financial and trust flows. Open source reference implementation is scheduled for Q2 of 2018. In Q3 of 2018 the product will rollout to all Aptoide clients.
This ICO sources most of its traffic from Portugal, France, Brazil, Italy and India. The traffic channel mix is equally split between direct traffic (37%) and referral traffic (36%). Top referring sites include ICO listings, partner websites and Portuguese news networks. Social traffic comprises over 11%, with most traffic coming from Twitter and Facebook. Ethereum ad traffic is currently at zero, as the ICO is in its initial stages.
For more details go to the website .
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