The beauty of decentralization is that it gives consumers the chance to move away from corporate giants. This is why blockchain technology has been so disruptive to so many different industries. One area that a project called Spheris is taking on is mobile application acquisition. Let’s take a look at this project and explore what it has to offer.
A BLOCKCHAIN APP STORE
There are really only two options for mobile application acquisition on the market, Apple’s App Store and Google’s Play Store. Both of these serve their purposes rather well, but are very centralized organisations. Spheris is hoping to disrupt this multi-billion dollar market with the blockchain to make a user friendly application store on the blockchain. It would be the first of its kind.
Their main goal is the create an application acquisition ecosystem where developers and consumers have a direct connection with each other. They also want to provide a medium of exchange between these developers and consumers that will be secure, fast, and private.
HOW IT WORKS
After the team identified the main problems with current application marketplaces, they realized just how necessary developing a blockchain based application acquisition marketplace was. Developers have to pay registration fees on top of a transaction fee that can be as high as 30% of the sale.
The small start up’s solution was the creation of their DAM (Decentralized Application Marketplace) Architecture. This will consist of five components. The first is the catalog, which is a database stored on the Ethereum blockchain. Since it is on the Ethereum blockchain, registered developers, apps, ratings, and reviews will all be serviced by smart contracts. The second component is browser interface itself. This is where users will be able to interact with the catalog, browse applications, and ultimately make their purchases. The manager for subscriptions and payments is the third component. It will a diverse and user friendly crypto- wallet. Anti-piracy and protecting the intellectual property of their developers is very important to the team. That is why their fourth component – called Signal – will be a subscription validation tool. It makes sure that only individuals who paid for apps will be able to use them. Finally the last component is storage. This allows developers to upload their apps for easy distribution. Third party storage solutions will also be supported.
All of the components and their use cases are well defined in the project’s whitepaper. It is definitely worth reading if you are interested learning how this project works a little more.
THE CROWDSALE
In a few weeks, Spheris’ crowdsale will begin. They will be offering their platform’s native token SPRS. Their crowdsale will run for 30 days and a total of 1,240,000,000,000 SPRS tokens will be offered. Initially the rate will be 1 ETH to 300,000 SPRS tokens, but that may change depending on Ethereum’s price. They will accept multiple currencies including Bitcoin and Ethereum but plan on announcing additional currencies prior to the crowdsale beginning. They need to at least raise $720,000 otherwise contributions will be refunded to backers.
Check out their website here: https://spheris.io/
Here is their whitepaper: http://bit.ly/2eKL8He
Promotional Video: https://www.youtube.com/watch?v=rrRYpOLpw5E
This is a sponsored post and does not necessarily reflect the opinions held by any The Merkle employees. This is not trading or investment advice, always conduct your own independent research.
from The Merkle