AppCoins is designed to create a transparent and decentralized app economy.
The aspect of Blockchain technology that eliminates the need for intermediaries is one of the most cherished characteristics by its followers.
Blockchain technology will bridge the gap between app developers and users and make app stores truly decentralized and transparent by removing the middlemen.
Closing the gap
Developers and users of mobile apps have been disadvantaged by middlemen that Blockchain technology could render unnecessary. Most of these intermediaries come in the form of advertisers, publishers and app store platforms that have been essential and important elements in the past.
With current developments in the industry, particularly with the emergence of Blockchain technology and decentralization, the gap between developers and app consumers is being narrowed down and many fees and costs are being eliminated.
A trustworthy and open economy
The two most popular platforms that users download apps from are Google’s Play Store and Apple’s App Store. Despite the solutions that these platforms have brought to the mobile app economy, as their weaknesses are obvious. Both developers and consumers are presented problems in the traditional platforms that include inaccessible in-app purchases and inefficient and expensive app discovery.
Traditional marketplaces involve app developers receiving their payments through app stores, which means the user pays to the store and the store pays to the developer. This flow is highly inefficient as it involves exchange rates and fees between user and store and store and developer. Bank transfers fees, risk of chargeback and credit card fraud exist as well and could be avoided.
Deficiencies of the past
AppCoins tokens will be used to get various types of services on any app store supporting AppCoins protocol, but also to reward users. Tokens can be used to advertise apps, developers can sell and users can buy digital goods using in-app billing and users can be rewarded with AppCoins for installing and using sponsored apps.
The processing of in-app purchases inside apps through Blockchain (with the AppCoins protocol) brings several important benefits to the developer:
Developers will receive money in real time directly from the user because the smart contract implements the revenue share between the developer and the app store. No exchange rates and fees, everything in real time and in the same currency. Also, the developer does not need to trust the store because it is powered by smart contracts on the Ethereum Blockchain that guarantee the transactions. The smart contract is open source and can be audited.
Improved efficiency, increased revenue
By the Blockchain being public and standardized, it means that the developer has to integrate the protocol API just once and it will work with all app stores that implement the protocol. The protocol is already adopted by Aptoide (one of the largest independent app stores with 200+ million users) and will be adopted by others soon.
All over, with the efficiencies as result of using the Blockchain, the revenue share can be much better for the developer: instead of 70 percent of Google’s Play Store or Apple’s App Store, the developer receives 85 percent with through AppCoins.
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Author: Iyke Aru