There are many ways to make existing cryptocurrency wallets more attractive. Adding a directory of mainstream merchants with which to spend said currency is one option worth exploring. To that end, Jaxx has introduced a decentralized search engine called Presearch. This new solution will reward users with dedicated PRE tokens. It is an interesting way of tying users to the Jaxx ecosystem; that much is rather evident.
Presearch is a Decentralized Search Engine
It is always interesting to see how cryptocurrency wallet developers add more functionality to their products over time. The Jaxx wallet is mainly known for supporting dozens of currencies and tokens right now. One thing few people expected to see this team develop was a decentralized search engine. Anyone who uses this search engine, known as Presearch, will be rewarded with tokens. Promoting this new platform will not be easy, but Jaxx hopes the community can play a big role in this regard.
As one would expect, this token was not created out of thin air. Instead, the Jaxx team is hosting its own ICO for this particular venture. We see more and more established companies running initial coin offerings these days as a way to attract funding for various projects. Whether or not many people will invest in the Presearch token remains a big question. While it’s an interesting concept, the added value may not necessarily be clear to most people at this point in time.
Jaxx founder Anthony Di Iorio commented on the new feature as follows:
Presearch is an open, decentralized search engine that rewards community members with PRE for their usage, contribution to, and promotion of the platform. The market they’re attempting to disrupt is huge and I’m interested to see how they and their community grow. Supporting them by integrating the PRE token in Jaxx is a great way for us to help build momentum for the project.
The strategy for adding value to the PRE token is pretty interesting. Going after the most active searchers to ensure early adoption of this new token should work out quite well. Moreover, the open-source platform will receive regular updates in the future. Every token holder will receive voting rights and can fund development projects which take place on top of the Presearch ecosystem in the future. It is an interesting approach, although a lot of details are still shrouded in mystery right now.
It is good to see a decentralized search engine being developed as part of the cryptocurrency ecosystem. There has been a growing demand for features such as this one, although no one has been successful in making a meaningful impact as of yet. Rewarding transparency and community participation is an interesting approach on the part of the Jaxx team, to say the least. It is still unclear what gives these tokens any value during the ICO, though, as most of the supply will be used for rewarding people for their actions.
It is certainly true that advertisers will have a use for PRE tokens in the future. After all, it is the only way they can purchase targeted and non-intrusive keyword sponsorships on the Presearch search engine. The big question is whether or not any advertisers will line up to purchase these tokens in the near future. With only 20% of the total token supply sold during the crowdsale, a lot of funds will be retained by the team for now. Still, it is an interesting concept that may prove to be successful in the long run.