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What Are AppCoins?

AppCoin Logo On A Mobile Phone Illustration

If you haven’t heard of AppCoins, it is time you should. It is up nearly 300% since being added to Binance last Friday. It was created by Aptoide, which is an existing player in the mobile app industry. It boasts over 200 million users worldwide, and aims to disrupt the current app store duopoly and bring more transparency and efficiency to this space. It does this by marrying blockchain technology and smart contracts with app stores.

The protocol seeks to encourage in-app purchases and other forms of app monetarisation, to streamline the app approval process, which has become sluggish. By moving everything to the blockchain, the ecosystem will become transparent and app parties will have the incentive to participate.

AppCoins are ERC-20 compatible tokens, which run on the Ethereum network, and will be allocated based on ‘cost per attention’. Tokens are then granted to users in exchange for downloading apps, and can then be used to make in app purchases. The end result will be an ecosystem which serves users, developers and other app stores that choose to implement this protocol. It will first focus on Android apps, but will become ‘app store agnostic’ eventually.

Tilted Perspective of A Mobile Phone's Apps

It is impossible to tell if this will stand a chance in the long run, when faced with the current competition; however, it is an exciting and revolutionary concept which should not be ignored.

AppCoin has a lot of potential; however, it is advised that you carry out your own research if you are thinking of investing in this. One thing is for certain though, it represents a chance to free the world from the huge companies in the mobile app industry, and push those into a new world, where apps and mobile advertising is not only accessible, but works for everyone, freely and fairly.

Original Image Source: Pixabay

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.