ANU #11 — µRaiden Integration, Web Page and Upcoming Announcements
AppCoins News Update, or ANU for short, is a regular bi-weekly update by the AppCoins team. As usual we are going to cover dev updates, market reports, team members and upcoming events. This week’s focus is on PoC of the In-App Purchases (IAP) flow using µRaiden, the discloser of a new web page for the consolidation of the different use cases of the AppCoins Protocol, AppCoins featured member, and Upcoming News. You may expect the next ANU on the 20th June.
This week’s Dev Update will essentially build on the last point of the last ANU, as we’re putting a lot of effort in the Scalability Proof of Concept (SPoC) for the Knuth release.
We’ll also cover the development of a new web page that will serve as the entry point for everyone that wants to know more about the AppCoins Protocol and its use cases, as well as products (Wallet and SDK).
Scalability Proof of Concept (SPoC)
As we’ve said in ANU #10, we’re working hard to build a PoC of the In-App Purchases (IAP) flow using µRaiden. µRaiden consists of unidirectional payment channel technology, enabling instant transactions with zero fees. It will enable AppCoins users to perform latency-less transactions with cryptocurrencies and all the advantages of Blockchain without having to pay for transactions fees.
The µRaiden flow pattern is the following:
- An Ethereum account opens a payment channel with another Ethereum account. The payment channel is unidirectional, which means only the account that opened the channel (i.e., the sender) can send tokens to the other address (i.e., the receiver).
- The sender tops up the payment channel with a number of tokens of his choosing. The sender can then perform fee-less transactions until the chosen number of tokens is exhausted.
- When the sender wants to perform a transaction, he produces a balance proof. This proof is sent to the receiver, which confirms its validity. If the balance proof is valid, this means the transaction was successful. Then, the tokens involved in the transaction are allocated to the receiver.
- Both the sender and the receiver can close an open channel at any time, provided they possess the valid balance proofs. When a channel is closed, the receiver gets the tokens allocated to him and the sender gets back the tokens he didn’t spend.
The above pattern applied to the IAP flow of the AppCoins Protocol will be:
- The user is using an app with the AppCoins SDK integrated. Once the user wants to buy an in-app item and clicks on it, the AppCoins Wallet is triggered and shows the payment dialog.
- The payment dialog will state if there’s an open µRaiden payment channel or not. If there’s already an open channel, the user can confirm the payment, and it will be done using the APPC in the channel. The transaction will be instantaneous and fee-less.
- If there isn’t already an open channel, the user will be able to open one and top it up with a certain amount of APPC. Then, the payment is done already using the payment channel.
- If the user has an open µRaiden payment channel, it can be closed in the AppCoins Wallet at any time, and the unused APPC are sent back to the user’s account.
Below are some of the layouts that will be included in the AppCoins Wallet, which supports the SPoC.
“Read More” web page
We’ve developed a new web page that consolidates the development status of the several use cases of the AppCoins Protocol, as well as of the products supporting them.
Developers, users, app stores and any interested party can see how to use the AppCoins Protocol, how the Wallet works, how to test and experiment with the two use cases we’re tackling at the moment: In-App Purchases (IAP) and Mobile Advertising.
From there, visitors are directed to other web pages that are specific to each use case and go more in-depth about what’s done and how. Feel free to explore and give us your feedback.
As always, you’re invited to follow our work regarding all of the products we’re working on:
The current market cap is close to $31.59 M USD, with $745.65 K USD in volume in the last 24 hours across these exchanges: Binance (72,57%) and Huobi (27,43%).
AppCoins continues to be tied mainly to BTC, and as well as other cryptocurrencies, its value has seen a slight decrease since the last ANU. Price has remained stable close to 0.34 USD for the last two weeks, and has witnessed a high of $ 0,393 USD on May 31st and a low of $ 0,278 USD on May 28th. You can see more info about APPC markets at Coinmarketcap.
Name: João Raimundo
Role: Android Developer
Bio: Working as an Android developer for more than 7 years, João Raimundo is passionate about developing applications that provide an oriented design and the best user experience possible. He believes that performance must be one of the top priorities when developing applications. Currently, he is working on the Appcoins wallet and SDK so that users and developers can easily interact with the Appcoins protocol.
Starting from tomorrow, we will unveil the total 10 key players that have adopted the AppCoins protocol, including strategic Developers, OEMs and App Stores.
For the last months, the AppCoins team has been working endlessly on the acquisition of strategic partners for the protocol in order to speed up the adoption of AppCoins into the ecosystem. The focus, as already stated, has been mainly on the three key players of the app industry: developers, app stores and OEMs.
Developers are one of the key players of the app ecosystem. Once they adopt the protocol there will be several improvements regarding the standard practices that are now being implemented in the app industry: better conversion rates, more efficient monetization of apps, and increased participation of the revenue circulating in the app economy, are just a few changes that will benefit developers.
According to the current industry standards, the maximum of revenue share is 77.5% but once developers implement the AppCoins protocol they will see an increase of this value to 85%. Besides this, developers will only need to implement one single APK that will be compliant with several app stores, who have also adopted the protocol. All of the advantages presented above, plus the fact that developers are using blockchain technology — which makes the process more efficient and transparent, hence reducing the risk of fraud — are all extremely beneficial for developers.
By adopting the AppCoins protocol, both OEMs and App Stores will be provided with the tools to monetize their user base. All stores wanting to monetize their user base through in-app purchase revenue, and all device manufacturers who distribute a preloaded app store that integrates the AppCoins protocol, will be included in the circular ecosystem revenue share. Following the circular transaction model, 10% revenue share will go to the app stores, and 5% to the OEMs on all transactions made inside app stores and that are implemented in the smart contract. Additionally, all of the revenue is received directly and instantaneously from the users, hence cutting the middleman and intermediation for the payments.
If you are either a developer, app store or OEM and you would like to be one of the pioneers of the adoption of the protocol you can do so by clicking here. After completing the form, someone from the AppCoins team will get in touch with you for further details.
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