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 being taken on by a project called Spheris 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 platforms 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.
The company’s main goal is the creation of an application acquisition ecosystem where developers and consumers have a direct connection with each other. It also aims to provide a medium of exchange between developers and consumers that is secure, fast, and private.
HOW IT WORKS
Once the team identified the main problems with today’s 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 a sale.
The small startup’s solution was the creation of the DAM (Decentralized Application Marketplace) Architecture. DAM will consist of five components. The first is the catalog, which is a database stored on the Ethereum blockchain. As such, registered developers, apps, ratings, and reviews will all be serviced by smart contracts. The second component is the 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 consist of a diverse and user-friendly cryptocurrency wallet. Anti-piracy and intellectual property protections for developers are also very important to the team. That is why their fourth component – called Signal – is 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 aforementioned components and their use cases are well defined in the project’s whitepaper. It is definitely worth reading if you are interested in learning a little more on how this project works.
In a few weeks, Spheris’s crowdsale will begin. At that time, the company will be offering its platform’s native token SPRS. This 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. The team will accept multiple currencies including Bitcoin and Ethereum, but they plan on announcing additional currencies prior to the start of the crowdsale. They need to at least raise $720,000; otherwise, contributions will be refunded to backers.
Check out Spheris’s website here: https://spheris.io/
Here is their whitepaper: https://spheris.io/spheris_whitepaper.pdf
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.