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The proliferation and adoption of smartphones is the bedrock of a $77 billion USD market centered on app downloads, in-app purchases, and ads through a distribution channel between developers and end-users. These distribution channels, or App Stores, are centralized mediums of exchange where a single entity provides for and authorizes the distribution, discovery, acquiring, and financial transactions on the platform. This entity is also responsible for not only maintaining the files and applications on the store, but also enforcing security measures and guaranteeing the integrity of every transaction made and file downloaded. However, this model has been shown to be deeply flawed and incapable of penetrating certain market conditions.
From malware-laced downloads to inaccessible in-app purchases for low-end markets, data leaks and privacy concerns, users experiences on app store marketplace are increasingly fraught with risks and inconveniences.
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By moving the three most critical functions of app stores to the blockchain – advertising, in-app purchases and developer’s approval -, Aptoide is set to revolutionize the mobile app industry with its decentralized marketplace cryptocurrency, Appcoins.
AppCoins network facilities direct exchange between end-users and developers, drastically improving user experience and market efficiency through disintermediation and reward redistribution based on immutable smart contracts.
Built on Ethereum distributed protocol, AppCoins protects against repudiation, double attribution, and fake identity using a ground-breaking proof-of-attention system. The network also features an innovative trust approval system where developers are ranked as either “Trusted”, “Unknown” or “Critical” based on their transactional history on the blockchain.
Appcoins has been designed to be highly scalable and modular allowing seamless integration with any app store on any mobile operating system. This creates a new shared ecosystem for all app stores, providing a universal language for the app economy on the blockchain.
Powering this new ecosystem is the AppCoins, a native ERC20 token. AppCoins enables developers to advertise their app and reward users for their attention, removing any payment or advertisement intermediaries. With the elimination of intermediaries, developers will be able to realize greater returns on investment, increase the monetization potential of their product, and directly communicate with their customer based. This eliminates the current opacity surrounding app approval and distribution across different stores.
Users can use AppCoins to securely buy apps and make in-app purchases on the store without compromising their privacy. They can also earn AppCoins by engaging with sponsored apps to make payments on the platform.
Aptoide is set to launch the AppCoins network within the next 12 months, leveraging an existing 200 million unique users to the blockchain. Information stored on the blockchain is immutable and distributed, ushering new levels of transparency, security, and accountability to benefit the market.
To fund further development of the network and establish key industrial partnerships, Aptoide has announced the launch of an ICO for the world’s first open and distributed protocol for App Stores. The ICO presale kick-offs on November 6th and close on November 20th at https://appcoins.io/presale. 20% of the total token supply will be offered to investors and early adopters.
Conceived and launched in 2011 by Paulo Trezentos and Alvaro Pinto, Aptoide is one of the largest and fastest growing mobile app store startups in the world. With over 200 million users and 4 billion downloads currently, Aptoide’s revolution of the app store industry is not just another white paper offering, but the evolution of an established company positioning itself for the future.