What is AppCoins? (In a Nutshell)
Here is a brief explanation of what AppCoins is all about.
Introduction
Aptoide has come a long way. Founded in 2011, Aptoide is the first social Android App Store. From a summer internship project to over 200 million users, 4 Billion downloads and 1 Million Apps, Aptoide has been able to pin point what can be done to improve the App Economy. Enter AppCoins.
What is AppCoins?
AppCoins is a protocol for the App Economy created by the Aptoide App Store, and the first ICO serving 200 million users with the goal of creating a trustworthy economy without intermediaries.
The current app economy has three main inefficiencies which are:
- Lack of transparency or trust
- Advertising inefficiency
- Costly and inaccessible in-app purchases
AppCoins is the solution. It is an open and distributed protocol for app stores based on the Ethereum blockchain, using the ERC20 standard.
It proposes to move the following three critical flows to the blockchain:
- Advertising: A standard for developers to advertise their app or game in the app store, paying AppCoins to the user for 2 minutes of attention. Blockchain provides proof-of-attention and guarantees against repudiation, double attribution, and fake identity.
- In-App billing: A solution for the purchase and billing of digital items using AppCoins inside games and apps. The developer simply needs to integrate it once and it works across all app stores. Users have an easy way to pay for items with AppCoins bought with fiat currency or previously earned through advertising.
- App approvals: A new trust model where developers are ranked as “Trusted”, “Unknown” or “Critical” according to their track record of transactions in the blockchain.
Who are we?
AppCoins is a project developed by Aptoide, with the goal of creating a protocol applicable to all app stores, that will be the answer to most of the limitations the app economy currently faces. We are a team of over 90 people hailing from all corners of the world, working together on this project.
What is the AppCoin?
AppCoin (APPC) is a cryptocurrency that will allow for transactions to be made within the app stores by users, developers and manufacturers.
What is AppCoins’ goal?
To provide developers a transparent and efficient way to monetize their apps and build a reputation across app stores; provide users a trusted environment with new purchasing possibilities and incentives to discover apps; and to create an app economy with a new universal language that ensures trust, transparency, and openness.
Conclusion
The AppCoins team is made up of over 90 people from all over the world working together to take a giant step for the App Economy, attempting to become the backbone for decentralized worldwide transactions and the language that app stores, developers and manufacturers can openly speak.
Development of this exciting new technology will take time, sweat — probably tears, too — and effort, but we are dedicated to making our vision a reality. Join us.
The AppCoins Protocol is being developed and implemented by Aptoide and is designed to be adopted by all mobile operating systems.
