AppCoin wants to invent savings in applications, using blockchain and digital markers. The project is developed by Aptoide, a mobile applications store.
AppCoins will be used by developers to advertise their application or game in the application store. Developers can pay users of AppCoins in exchange for two minutes of their attention. AppCoins can also be used for in-app purchases.
What does the company/project do?
The digital currency is already supported by the Aptoide application store, which has 200 million active users and 4 billion downloads of applications according to the data posted on the AppCoins.io website. Based on this information, AppCoins states that:
“The first ICO serves 200 million users.”
What problems does AppCoins try to solve?
The problem is an opaque and inefficient application economy.
By 2020, 4 billion people will have smartphones. The potential of the application economy is greater than ever, but it still has three main problems:
- The inefficiency of mobile advertising. There are several intermediaries between the developer and the user, which reduces the transparency and potential return for developers.
- Inaccessibility of purchases in applications. Today, only 5% of smartphone users make purchases in applications, and payment intermediaries increase the total cost.
- The application verification process is not transparent. It is still difficult to confirm the authenticity of developers, and there is no universal approach used by application stores.
How does AppCoins work?
The project plans to use blockchain technology and smart contracts to solve all of above problems for developers and users. This is an open and distributed protocol for application stores. Although AppCoins is already integrated into the Aptoide application repository, it can also be integrated into other application stores in the future.
“This is a new universal language in the application economy,” explains the introductory video posted on AppCoins.io.
The platform is based on the Ethereum blockchain. Here are the main processes that users and developers can use to interact with each other on the platform:
- Advertising intermediaries are no longer present in the platform system; the only payment goes to the app store and the hardware manufacturer. Otherwise, developers and users make transactions in a seamless, low-cost environment.
- Let’s suppose that a developer wants to encourage users to use their application. This developer may charge a fee for the “cost per installation”. With the usual advertising networks, developers pay a high fee, and most of this fee goes to the intermediaries. Users do not receive anything.
- Everything works differently with AppCoins. Developers can adjust the cost of the marketing campaign for each installation. Suppose a developer is willing to pay $ 1 for each application installation. The user installs this developer application. The developer pays $ 1 to the platform, and the user who installed the application earns $ 0.85.
- Developers have a reputation on the platform. This reputation is based on the history of transactions in stores. Therefore, even if the developer is new to a particular application store, this developer can gain a strong reputation due to his previous transactional history.
- All information is stored in a blockchain, which simplifies the approval of applications through application stores.
- Purchases in applications are also designed to create greater profits for developers. Fewer intermediaries, which means that developers get more money from each purchase in the application. Using a cryptocurrency, such as AppCoins, also leads to smooth payments – so developers pay fewer fees than when accepting credit cards or other traditional methods of payment.
- Finally, users can make purchases in the app, even if they do not have traditional payment methods. Users can receive AppCoins from other users without adding credit cards or bank accounts to the platform. You can spend AppCoins on purchases in the app.
Ultimately, the platform strives to apply a new technology – a blockchain – to the old problem – high fee for developing applications. Developers gain access to an efficient and economical way to monetize their applications. Users can access a reliable, low-cost ecosystem with high-quality applications. Application stores can access new revenue.
A project supported by the Aptoide application store
Aptoide is one of the largest application stores on Android, which has more than 4 billion downloads, 200 million users, and direct interaction with over 12,000 developers, including Ubisoft and Zeptolab. Aptoide has a network of partners, which consists of more than 70 corporate companies, including OEMs and telecommunications companies.
AppCoins is an application storage platform based on the Ethereum blockchain. The platform includes an advertising system and a cryptocurrency. Developers can use cheaper advertising, fewer intermediaries and a free payment solution. Meanwhile, users can enjoy more convenient payments and high-quality applications.
AppCoins is already integrated into the existing app store for developers, Aptoide, which has 200 million users worldwide. However, the platform is based on a decentralized open protocol, which can be embedded in any existing application store.
- Useful links
AppCoins is developed by Aptoide, an alternative application store that offers 800,000 unique applications and has 200 million users. The app store also has 12,000 publishers and 70 different manufacturers.
Aptoide accepted AppCoins as a digital currency from the third quarter of 2017.
The key members of Aptoide are Paulo Tarentos (CEO and Founder) and Alvaro Pinto (Chief Operating Officer and Founder).
AppCoins and Aptoide are headquartered in Lisbon, Portugal, although they also maintain offices in Singapore and Shenzhen. Aptoide was founded in 2011.
Forbes 30 under 30 top young leaders, creative investors, and entrepreneurs
Investor at e.ventures
Google Play Operations Senior Strategist
Head of Platform Partnerships at Ripple
Bitcoin and blockchain pioneer
Co-founder of Bitcoin.com in 2011-12
Bitcoin, Ethereum and Ripple collaborator
Co-author of the Handbook of Digital Currency
Indorse Co-Founder, Decentralized Professional Network
Co-organizer of Ethereum Singapore Meetups
Lee Tsun Ngai
Head of Business Development at Kyber network
Helped to raise $50 million, in Kyber Network ICO (Sept 2017)
Strongly Supported by the Aptoide Team
CEO / Founder
PhD in Computer Science. Founder of LinuxCM, a popular Linux distribution (700,000 users). CEO of Aptoide.
COO / Founder
Former President at the Portuguese Association of Open Source Software Companies
Tiago C. Alves
VP Asia Pacific
Master Degree in Mandarin and an MBA in Tech Management from SF University
Ren Tang 唐人
Previously incubating mobile games and apps at Goodgames, EA, and Disney
Head of Partnerships
VP of OLD Association and member of SOCIUS Research Center
Head of R&D
Led several R&D Projects in mobile payments and mobile advertising
Price in ICO: 1 APPC = 0.10 USD
Country of foundation: Portugal
ICO Dates: December 13-20 (sale closed upon reaching the goal)
Hard Cap: $ 15.3 million (60,120 ETH)
PCollected funds: 15.3 million. The United States, 1.8 million. The USA in the presale
Industry: mobile applications, mobile payments.
Accepted funds: Ethereum