What is AppCoins?
Appcoins (APPC) is an open and decentralized protocol developed for app stores based on the Ethereum blockchain and smart contract technology. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code. The platform's goal is to redesign advertising, in-app purchases, and the flow of app approval with transparency and trust. APPC is the native token of the protocol, and it aims to encourage many stakeholders to contribute to the development of the platform.
One of the primary utilities of Appcoins is in-store app advertising. With the protocol, advertising and transactions are executed on the blockchain through Appcoins. Users receive 85% of advertising revenue, which can be used to pay for in-app purchases. Another utility of the platform is in-app purchases, where APPC is used to pay for in-app items in any app store. Prices of in-app items are listed on the blockchain, and users can use the items after purchase since the proof of payment is stored on the blockchain. Users can earn APPC by installing and paying attention to advertised apps. They can also acquire APPC tokens by exchanging traditional currency with cryptocurrency on several global exchange platforms.
Appcoins protocol offers an automatic governance system for app approval based on the developer's ranking. The developer's ranking is based on their transaction history on the blockchain, and the reputation of all listed apps is related to the developer's reputation. The developer's ranking system is stored in a decentralized blockchain with app stores having full access. The platform aims to be suited for users with no access to payment systems, low financial resources, indie developers, top developers, independent app stores, and regional app stores.
Appcoins was founded by Paulo Trezentos and Alvaro Pinto, with Trezentos serving as the CEO and Pinto as the COO of the company. Other team members include Ren Tang (VP Product), Carolina Marcelo (Head of Partnerships), and Joao Casal (Head of R&D). The whitepaper was published on December 14, 2017.
Appcoins protocol aims to be a game-changer in the app industry by offering an open and decentralized platform that enables users to purchase in-app items and developers to monetize their apps more effectively. The use of blockchain technology and smart contracts offers transparency, trust, and security to all stakeholders involved. The protocol aims to eliminate the middlemen and reduce the fees associated with app advertising, in-app purchases, and app approval processes.
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