Color Platform, the dApps in My Daily Life
-What kinds of apps do people usually use?
Even if you are not a heavy smartphone user, you have most likely used at least one of the most downloaded apps of 2018. From Snapchat or Google to YouTube, where you can enjoy music and video from all over the world. For most of us, our daily lives consist of hours using apps every single day.
From when we wake up in the morning until we fall asleep, we can’t live without our smartphones. We start our day with an alarm app and check a daily schedule by using a calendar app. We may use apps to help us navigate the best way to work, and avoid traffic or closures, and don’t forget our favorite podcast, audiobook or music streaming apps while we’re at it! Maybe once we get to work we have a whole suite of productivity apps from team collaboration apps like Slack, and a myriad of other apps used in various industry-specific areas. If we’re feeling eco-conscious perhaps we will use an app to check options for mass transit, or maybe we need to utilize one of the many ride-sharing apps like Uber or Lyft. After winding down for the day we may wind down with some Youtube videos or something from Netflix. All of this and I still haven’t mentioned what most of us utilize our phone for on a daily basis: Staying connected. Whether it is through Instagram, Facebook, Twitter, or more traditional messaging apps like WhatsApp or iMessage, the shocking reality is the same, we’re on our phones quite a bit!
- Now, picture your daily routine with the upcoming ‘Color dApps’.
Color will naturally seep into people’s everyday lives. Users of the Color Platform will use dApps without realizing they are even using blockchain technology, and their daily lives will not be much different from their current lifestyle. Compare to the example above and let’s take a closer look at the following case.
People start their day with an alarm app and check their daily schedule by using a calendar app. With a subway app, they check the arrival time of the next train and open a music dApp in Color Gallery to listen to the music. They open emails by using their mail app, sign in to the Reward Inc. during lunchtime, and collect Color Points(CP). Heading home using a ride-sharing app, they open Color Guide and order meals from their favorite restaurant hangout. While eating, people watch videos recommended by Color TV according to their interests. They spend time reading Color Blog and Color Humor then set their alarm for the next day and fall asleep.
Through Color dApps, our daily lives will consist of less time being consumed by not having to check unreliable information on the Internet, and will be transformed equitable and reliable through blockchain technology. If large Internet conglomerates have been forced to make money from content that consumes our time and effort, individuals will now be able to obtain compensation for all content they create, and Color dApps will make it happen.
- Ethereum, the beginning of dApps
Starting with Bitcoin in 2009, more than 1,600 cryptocurrencies have been issued in the past nine years, and about 1,861 dApps have been developed in the two years since Ethereum. It is rather simple to create an ERC-20 token, and more than 1,800 dApps were created in the exploration and utilization of blockchain dApps. However, there are limits to Ethereum that have not been overcome in the past two years.
- What are the three typical Ethereum dApps?
Even though you may have studied and invested in the blockchain to participate in an Initial Coin Offering(ICO), it is not easy to list even three Ethereum dApps. Perhaps many people can think of a game dApp called ‘Crypto Kitties’ where, in a pokemon-esque fashion you try and build up your cat collection, but instead of catching, you are “breeding” cats by using unique cryptographic attributes to try and attain rarer and rarer combinations. But aside from that, what are some of the dApps that are now actively being used in Ethereum? Most of the dApps that are actively used are the Decentralized Exchange (dEX) apps, and the ones more geared towards ordinary users are Crypto Kitties and Fomo3D, some gambling dApps. The biggest problem facing Ethereum’s dApps is that not just creating apps that people can enjoy, but the uphill battle developers are facing regarding the Monthly Active User(MAU) rate that is rapidly decreasing. It has gone from 528,000 in January to a mere 231,000 in July. Rather than thinking about the absence of active users, Ethereum’s founder Vitalik Buterin focuses on technical issues, such as the scalability of the blockchain. Even though Ethereum has become the cornerstone of the smart contract, dApp development, and the ICO boom itself, it is stuck having to focus on improving its technology as other competitors chip away at its market share, just as it once did to bitcoin for the same reasons.
- Ethereum’s trading volume is the world’s no.1 or no.2 but its dApps’ is 1/1000
Ethereum is 2nd in overall Market capitalization and volume, and some people believe that demands of both Ethereum and the use of dApps will continue to increase. However, the days of purchasing Ethereum as a savings is over. Since the second half of 2017, an exponential number of dApps and platforms have collected funds, but the projects collecting the funds and people capitulating have been selling Ethereum this year, putting pressure on the price, as shown at the time of this writing, where the price struggles to stay above $200.
In order to increase the demand for currency, the number of dApps using the currency and its users must increase. However, if you look at the volume of recent exchange between Ethereum and its dApps, you can plainly see that Ethereum functions as a currency for the sale and purchase of goods and services only among users who currently own it. The 24-hour transaction volume of Ethereum is about 11,247,529 ETH, whereas the 24-hour transaction volume of the dApp is about one-thousandth of that level at 17,148.87 ETH. If we don’t increase the users of Ethereum-based dApps in the current depressed market and create new inflows of people, they may slowly bleed out onto other platforms like EOS, Dash, or the next generation of blockchains.
- Which platform has improved upon the problems of Ethereum?
Numerous coins have been trying to display platforms that have improved the problems with Ethereum. EOS, which is one of the most popular blockchain communities, attracted huge attention in June of this year due to the release of MainNet and a worldwide election for Block Producers(BP). DappRadder, which measures the volume of users and transactions for dApps, announced on August 29 that the total volume of EOS dApps surpassed the total volume of Ethereum dApps. So, did EOS finally succeed in achieving its goal of “Beyond Ethereum” in just three months?
According to EOS dApp ranking, the decentralized exchanges account for half of the top 6 on the list. A Decentralized exchange in itself has significant meaning in blockchain technology but does not bring any new user experiences to platform users beyond basic currency transactions. It just enables the exchange of tokens or coins that could be done on any other platform at a faster speed.
Meanwhile, EOSBet, the most popular among users with the most transaction volume, has only 530 users over the course of 24 hours. Compare that with any app in the app or play store and it would be considered a failure. . With its current user base, EOS apps would find it difficult to even break into the top 500 organically. EOS said they can process smart contract faster than Visa. However, the high number of TPS(Transaction Per Second) is meaningless, when there’s lack of users on the platform to make transactions.
- Color: The Apple of Blockchain — Think Different, Think Color!
By thinking outside the box, Color prioritized the important component in building a platform, that was different from traditional platforms. It is the attracting users that seems lost on the technocrats. This strategy starts with the launch of Color dApps in the form of general applications prior to the release of MainNet. The Color team is already making strides to establishing ‘A first-class platform’ by developing the Color Spectrum technology that enables rapid transactions at a low cost, governance that will create the platform operating ecosystem, and the pixel program for fair wealth distribution. Applying blockchain technology with existing services that have been downloaded more than 100,000 times through our partners, to secure the user base in advance will ensure the success of MainNet and the subsequent dApps.
- What are three typical Color dApps?
Unlike referring to the three Ethereum dApps, it is quite easy to list three Color dApps. Starting with Dailytto, Reward Inc, Color Design, Color dApps have laid the foundation for the ‘decentralized App Store’ even before the release of MainNet. To start, the focus will be on ‘Reward’ type dApps such as the Dailytto and Reward Inc. Using Color Platform dApps, people can participate in the lottery with Dailytto, and play level-up games with Reward Inc. and collect Color coins until the MainNet launch. In addition, the global version of Dailytto and Reward Inc. are released in September, reaching out for international users.
The Reward app is just the beginning. Based on the transparency of the blockchain, Color dApps reward accurate information and filter out incorrect information. With Color Guide, Color Blog, and Color Design, the content creator will receive a fair reward for their creations. In addition, people who want to make donations and fund projects from anywhere in the world will be able to do it with the Color Pixel program. Most importantly, all of these dApps will be operated with a single unified currency, Color coin(COL), not with different tokens or coins.
-Color Development Kit (CDK) and Color dApp Store
The Color team aims not only to secure users, but to solve the concerns of entrepreneurs and dApp developers by providing the Color Development Kit(CDK). Many people who are currently doing business using centralized web servers such as Google Play Store or Apple App Store often want to apply their existing business models to the blockchain. However, it is difficult to implement complicated functions on the development environment of other platforms, and most platforms require you to learn a new programming language specific to that platform to create a new app. In addition, the annual salary of blockchain platform and dApp developers is staggeringly high, creating huge barriers for small businesses that might want to deploy an app on the blockchain. However, Color Platform will significantly reduce the cost of the development process, as well as ease the onboarding process for businesses that want to operate on the blockchain through the use of the CDK.
At the business design stage, developers of the Color Development Kit can take advantage of the platform’s fast processing speed and low transaction fees. The CDK will have a list of the various features that can be applied to the app and will be updated continuously in order to provide the best user experience possible. dApp developers will be able to easily add and remove functions as they apply to their own dApps through the CDK. In addition, the debugging environment will be much more robust than the one provided in Remix, the development environment that Ethereum’s proprietary language Solidity is written in. They say that code development is 10% of writing code, and 90% of it is debugging, so in other words, it will make the debugging, or tracking down code errors, way more efficient.
-Color Platform: Tomorrow’s dApp Ecosystem
Utilizing the Color Development Kit and the Color Spectrum technology, businesses will be able to bring their existing complex business logic into the blockchain ecosystem in a much more streamlined way. The advantages of using Color for dApp development and deployment can be summed up with the following:
- Will have a high number of users before the launch of Mainnet through the funneling of various traditional App communities into the Color ecosystem
- Develop 10+ dApps on their own that use a single currency Color Coin(COL)
- Providing the Color Development Kit(CDK) makes it easier to develop dApps
- High-performance dApp implementation based on Color Spectrum technology
- Rapid transaction speeds and low fees
- Governance and Treasury that support creative ideas
If you take into account Color’s decorated development teams across the globe, equipped with Korea’s leaders in ICO marketing, and our wide pool of advisors, partners, and investors, it is clear to see that the future for the Color Platform is bright. If you believe in the future of cryptocurrency and the blockchain to change the world, but just think it is lacking general appeal and true paths to mass adoption, then you’ve come to the right place. From the beginning of the Color Project, the goal has always been “How do we make the Blockchain more accessible and more utilized by the average person?”. With this being the drive behind every action we take here at Color, the ecosystem will be ready to snowball into a large bustling community and marketplace, ready to lead the pack.
Written by Hannah Kim