The blockchain innovation has taken a greater shape since its inception, transforming a lot of industries. This technology has brought speed, security, and transparency into a lot of dealing today, most importantly, it has broken global boundaries, making it easy for people from around the world to deal freely, using a global, fast, and easy payment option… The Bitcoin and other cryptocurrencies.
Even the marketplace isn’t omitted, global trade is essential and that’s why there’s an ongoing integration of the blockchain to this industry too. This is because, with the tokenization option of the blockchain, the E-commerce industry can get to connect people with shared interests and corresponding economic benefits in a place. Outrightly, this leads to high user viscosity and creates a inventive between members of a particular community. That’s why we will talk about ApolloX today.
What is APOLLOX?
ApolloX is a blockchain solution for online e-commerce, the first of it’s kind. It comes with a large number of existing participants and mainstream adoption.
ApolloX is a decentralized ecosystem that will build a bridge to connect buyers and sellers with trust and efficiency without the need for a for an information silo or commission fees.
The platform comes with a potential to disrupt the regular traditional methods of the online marketplaces. This makes it the first choice for online channels for sellers and buyers who deal cross borders.
The platform makes room for existing shops to move their businesses to the ApolloX platform for cost reduction, faster customer acquisitions and better brand recognition.
ApolloX Protocol is built on the arbitration process of the ApolloX Protocol to create transparency and ease of use for consumers and sellers. Making it comfortable and safe to deal with.
THE APOLLOX PROTOCOL ELEMENTS
* Data Control: On the platform, all the shopping data are permission enabled. This means that privacy is highly protected and encrypted before appending the blocks to the ledgers. Users are responsible for any further decryption of their data through the use of their key. All shopping data in ApolloX Protocol is permission enabled and privacy protected by encrypting all sensitive data before appending blocks to the ledger. Encrypted data can just be decrypted by a user in possession of the corresponding key.
Browsing histories, purchasing history, and all other shopping activities can only be accessed by the users, sellers, and/or buyers. This is done through the permission granted by the owners, and can not be accessed by an authorised body or firm.
Again, through the user’s privacy right, a user can choose to freely share their data with a certain manufacturer or sellers in other to gain personalised services or rebate. This keeps the customer in full control of the information they want to receive on products and services.
This data control process goes to show that the platform is a people-oriented community, and not managed by managers or control bodies. This makes it impossible to compromise data or kill consumers interest.
* Payment Protocol: The platform through the payment protocols handles all the end to end payments between buyers, sellers and consumers on the platform. This is done through an outside insurance policy that covers the process. Also, it supports the change of fiat and cryptocurrency, thereby bridging and creating a secure online shopping experience for users.
* Incentive protocols: of As a full community platform, the ecosystem encourages the active use by the community and the further growth of the community by linking more consumers, sellers, and manufacturers and also get incentives for it. As users of the platform transact more on the platform, the value of the platform continues to grow. The sellers, consumers, manufacturers will all get incentives for their contribution to the further growth of the platform.
* ApolloX Protocol Smart contract module: As a decentralized e-commerce platform, ApolloX employs the use of the blockchain smart contract technology to oversee the transactions of money and sensitive information. All other inherent functionalities are developed and derived on the use of the smart contracts to build trust, speed, transparency and a one-stop solution platform for the online E-commerce needs.
* Arbitration Protocol: The ApolloX Arbitration Protocol employs the use of a deposit challenge vote method to solve the issues of disputes when parties are involved in any sort of disagreements. The method works with one of the parties opening a case by depositing some of the platform’s token, the other party does same to solve the issue.
* Oracle and Data Protocol: As a platform for e-commerce business, the platform operates using a series of outside information including advertising data and logistics data. All these are provided through the blockchain smart contract as trusted data through the ApolloX oracle protocols. The platform protocols open APIs for integration with other already existing logistic providers and advertising firms, like the preparation and ready accessibility of tracking numbers and delivery status will be on hands on the ApolloX mobile application through the work of the Oracle protocol. Advertisement data, such as attributions, will also be honoured and recorded with each order on the blockchain. All this will be done through the careful vetting done by the community before gaining any access to the protocol.
* Reputation Protocol: The platform integrates the use of a trustable review system for products and sellers. Products sellers will get incentives for providing high-quality goods and also get high-quality reviews from the protocol. Poor reviews and pena9will be dished out to sellers and users with fraudulent behaviours.
* Community Built Protocol: Soon all ApolloX members can build their own protocols that will best serve and advance the ApolloX community.
The ApolloX Token(APXT)
As a full-blown community-oriented platform, the platform operates using a token as an indigenous currency that acts as the basis of all the transactions and interactions of the platform.
Ways to earn and spend the APXT tokens
There are a series of ways for each role to earn and spend APXT in the ecosystem.
* Sharing social accounts. Consumers can get APXT by first opening accounts and connecting social networks.
* Pay for services on ApolloX network. Sellers will have to pay for platform service fees and other transactional fees like advertisements and search ranking.
* Rewards and Affiliate Program. Users can earn tokens through the affiliate traffic features as a result of their affiliate orders.
* Perks for members holding APXT. Premium members who hold APXT tokens will receive perks such as discounts in purchasing and free service.
CONCLUSION:
ApolloX platform currently has 1 million users and 15 million annual GMV thanks to its strategic partner ApolloBox. Over 200 global brands and online shops have become members of the ApolloX decentralized marketplace since the announcement of the ApolloX platform. We expect to have more than 1000 stores before the platform’s official launch. This makes ApolloX the world’s first decentralized marketplace with 1 million users. This will be the change that is needed in the e-commerce industry… ApolloX is the future.
This article is just a brief about this amazing project. It does not cover all the benefits, aspects, features and security protocols of the project. More information can be seen through the following links.
Project Website: https://www.apollox.network/
Ann Thread: https://bitcointalk.org/index.php?topic=4650252
Whitepaper: http://www.apollox.network/downloads/ApolloX_whitepaper_v1.0.pdf
Telegram: https://t.me/apolloxgroup
Twitter: https://twitter.com/apolloX_network
Facebook: https://www.facebook.com/apolloxnetwork/
Reddit: https://www.reddit.com/r/ApolloX
Written by Goodnuel
Bitcointalk username: Goodnuel
ApolloX ID: 4RRy9RK6CQ
Telegram username: @Goodnuel
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=1304832;sa=summary
