Mobile applications and platforms have been part of our lives for a while now. There are multiple stores and places to download and use them which are quite intuitive and user-friendly. With the rise of adoption for blockchain technology, another wave of applications is being developed and built with blockchain functionalities and use-cases.
As is the case with most applications in all markets, there is a big market for in-app purchases. In-app purchases are purchases that the user makes in order to unlock a different, extra functionality of the application. Most of these in-app purchases are currently made with fiat currencies or tokens users get by using the application.
But the cryptocurrency market and the blockchain industry has come up with a blockchain alternative for the same. Instead of using fiat currencies and linking bank accounts to the application, there is a company called AppCoins that has developed a token called APPC for just this reason; in-app purchases. But there is more to AppCoins than just in-app purchases, let’s take a closer look.
What is AppCoins?
AppCoins is a company that was founded in 2017. AppCoins is the native token for the application economy created by the same team. The application economy that AppCoins created is called Aptoide App Store.
The team at AppCoins, in their products, have pinpointed three stress point that the existing market economy has. Using these three stress points that the existing market has, it has created an application ecosystem and a subsequent community that focuses on bettering them. The underlying technology of this entire ecosystem is the blockchain and the team believes that the blockchain is the answer to the market ecosystem’s problems.
The three stress points that AppCoins has identified in the current market economy are;
- In-app Purchases
- App Verification
To these three stress points, AppCoins has the answer and here is how the team intends to tackle this.
One of the places that all current marketplaces lack is the advertising side of things. Advertisements are a nuisance to the users and most people have ad-blocks activated on their various devices. But as anybody with a product to sell knows, it is impossible to survive, let alone thrive without advertising.
To make sure that advertising is done and is not seen as a nuisance to the users, the AppCoins application ecosystem has incentivised advertising for both the product sellers and users. They have done this by making sure that there are a proper protocol and blueprint that the company has to follow in order to advertise.
And to make sure that the advertisement has actually been seen and consumed, it incentivises attention. For two minutes of undivided attention, the ecosystem remunerates the user with the number of APPC token. This way, the company and its product get traction among users and the user also gets remunerated for their time spent.
All most all applications in the ecosystem right now have a suite of in-app purchases that users can choose to make to make the application function better. Mostly these purchases are made using fiat currency methods.
AppCoins has its own alternative to this. They have devised a cryptocurrency solution to this. Their alternative is to use APPC tokens to make in-app purchases. APPC tokens can be bought using fiat currencies and/or be earned by consuming advertisements in the ecosystem.
Developers wishing to sell their application on the ecosystem just have to integrate this with their application and are ready to go. The same alternative makes life much simpler for the user because they don’t have to worry about long processes and the security of their financial details.
App Verification and Approval
One thing that the application ecosystem lacks in at this point is trust and transparency. There is no way of telling who is behind an application and there is no way of knowing just how safe your details and financial data is going to be. This is one of the biggest hindrances in users going for in-app purchases.
To tackle this very problem, the AppCoins application ecosystem has an approval and verification system that allows users to rate and comment on the application’s safety, security and application performance. Using these ratings and reviews, it becomes easier for users to see which apps are genuine and safe and which aren’t. Using this particular functionality the users can also rate the developers.
APPC is the AppCoin ecosystem’s native token. It is widely used in the AppCoin application ecosystem as a way to make in-app purchases, as a method of remuneration, etc. The APPC coin is the 341st largest coin by market capitalisation in the cryptocurrency market.
As far as trading history goes, the coin has only 11 months to go on. The coin hit the market at the beginning of the year (2018) and has done reasonably as well.
AppCoins is a protocol for the App Economy created by the Aptoide App Store, and APPC Token is currently serving over 200 million users. Thats a huge plus for APPC. It is one of the top 5 most used cryptocurrency in the ecosystem by users.
The all-time high of the coin was $4.20 USD. The current value of the coin is $0.107 USD.
[bctt tweet=”Why you should pay attention to APPCOIN (APPC)” username=”ItsBlockchain”]
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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