The latest smartphones come with a multitude of applications and then we as users download further ‘Apps’ to enhance our experience of using the latest tech. Though in this day and age of technology, one thing that the world of application lacked was a way of making reliable and safe In-App purchases. This problem has been completely eradicated by the advent of AppCoins. This venture is governed by aptoide, which is essentially an app store for Android apps. The aptoide iPhone & Android apps are both available for users to download for free.
These AppCoins have been powered by none other than Aptoidewhich is one of the biggest and most used Android app stores with 200+ million users. Just like bitcoins have made us step back and see monetary usage in a new way, AppCoins are doing the same in the world of applications. It has single-handedly changed the way users can make any In-App purchase without depending on the traditional method of payment.
What is AppCoins
Since current applications are more under single entity ownership, there is a lack of transparency between developers and users. A centralized and monopolized approach plus a lack of security makes it very difficult for users to make use of app stores to make purchases. AppCoins have completely removed the role of a middleman in this scenario. Now as a user you can make any In-App purchase with just a click of a button. The Appcoins get transferred to the destination wallet and the user gets immediately informed of the acquisition as well as the balance in his wallet.
The marketplace currently is swamped with middlemen that inflate the cost of advertising apps. This is done in order to encourage and boost app monetization and encourage users to make more In-App purchases. Though, this methodology has failed to serve its purpose. This is why AppCoins have been circulated in this sluggish and fairly inefficient chain of the process in order to make the system more transparent for the user. You will not have to be wary of a third party while making any purchase as each individual developer will get ranked based on past transactions. This will make it easier for users to make In-App purchases without any fear as the dispute system will now be open and accessible for everyone.
The AppCoins are ERC-20 compatible tokens that operate on the Ethereum network. They will be assigned based on the concept of what is called “Cost per attention”. When a user downloads an app, they will be given these tokens which can be further used for making In-App purchases. This invention has already brought a lot of changes in the App economy but its main goal is to create a system that is fair to users, developers and also all other app stores that choose to make use of this protocol. It will serve as a universal language that is implemented and used by all those who participate in the App industry.
The concept is new and does face some challenges but it is nevertheless something new that has already revolutionized the world of App. It has ushered in a new way in which will be viewed and used by everyone.