AppCoins an open and distributed protocol for the App Stores. The main aim of AppCoins is to reinvent the app economy using digital tokens and the blockchain. The project is being developed by a mobile app store called the Aptoide. It wants to drastically improve and speed up app approvals, advertising and in-app billing using the smart contracts and the blockchain technology. The project can be used for developers to advertise their game or app in the app store. They can pay users with AppCoins in exchange for their attention.
Problems that AppCoins seeks to solve?
The number of smartphone users is increasing daily and is expected to increase to up to 4 billion people in the year 2020. This means the revenue will increase too. Unfortunately, there are some issues that still feature outdated systems. These issues include:
In-APP Purchases are inaccessible to many users
People avoid purchasing in-app purchases because they have limited payment methods. Is when developers make money in-app purchase, they lose a significant amount to pay processors, gateways, fees and middlemen. They also struggle to charge users, which means they lose too much money in the end. AppCoins want to provide investors a reliable method of selling in-apps and keeping all the profits.
Transparent App Approval
AppCoins believes it is possible to solve the problem where App approval is not transparent. Developers know how difficult it is to confirm the identity and there is no universal approach used. The developer spends months creating a perfect app, then have them blocked from app stores for reasons they don’t know.
How does AppCoins work?
AppCoins uses the blockchain technology and smart contracts to solve the issues experience in the App industry now. Although the project is already integrated into the Aptoide app store, it will be integrated to other app stores in the near future. The project has three features that make it work efficiently. They are:
Advertising: developers can advertise their app and pay users using AppCoins. The blockchain also provides proof-of-attention and guarantees double attribution, fake identity and repudiation.
In-app purchases: a developer can integrate AppCoins once and it will work across all app stores. This gives users an easy way to pay for items using the AppCoins.
App Approval: AppCoins have a new trust model where all developers are ranked as “Unknown” “trusted”’ or “Critical” according to track record of transactions.
AppCoins is led and founder and CEO Paulo Trezentos and co-founder and COO Alvaro Pinto. The AppCoins token (APPC) is an ERC20 token built on the Ethereum blockchain.