‘Blockchain can turn the odds’
by Kalvin Feng, co-founder ALAX.io, CEO Dragonfly
The Chinese market is growing at an exponential rate, with users spending almost USD 35 billion in app purchases. That’s a 270 percent increase in two years! But what is more important is, that we are witnessing rising tendencies in consumer behaviour, with more of them switching from PCs to mobile phones to play games.
In this day and age you cannot play catch-up, you either keep up or plan ahead of the curve and dictate the pace. So in the spirit of keeping ahead of the crowd, I thought long and hard about how we could differentiate ourselves from other app stores. The best way to achieve that was by joining forces with Matej’s DECENT and using their proprietary blockchain.
Dragonfly wants to take part in the market dominated by Tencent and NetEase, two gaming companies holding almost 70% of the Chinese mobile gaming market. Before I met Matej, I thought it was almost impossible to penetrate such an unconquerable market. But then we created ALAX which has a weapon that can turn the odds in our favor.
This weapon is called DCore — the blockchain developed by DECENT. It is a digital content oriented blockchain with fundamental support of purchase and distribution of digital assets such as mobile games. DCore’s architecture is designed to have a high transaction speed and the ability to process a high volume of transactions which can be expected in marketplace applications such as ALAX. This blockchain supports automatic revenue split. In other words, game developers will receive the payment within 5 seconds after purchase. DCore uses the Delegated Proof of Stake (DPoS) mechanism in order to achieve the consensus of various nodes in the network, which is also the fastest, most efficient, most decentralized, and most flexible consensus model available.
We decided to develop our app store for the Android operating system as this OS is (and probably always will be) #1 in Asia. Launching it this year means a lot to us! Mainly because we want to take advantage of the current situation where Google’s Play app store is still not available on some Asian markets, especially in China.
Our aim is to break the routine, provide something new in terms of technology and offer innovative solutions. An app store built on blockchain is faster, cheaper (eliminating the intermediaries), more secure and allows us to reach ‘unbanked’ consumers.
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