ICO Spotlight: Trust Platform Offers Decentralized Market For Multiple Toolsbr>
Trust Platform is a multi-faceted ecosystem comprised of different autonomous technologies aimed at blockchain development and integration. The platform features a decentralized marketplace for dApps, a Trust Wallet for handling digital assets compatible with the ethereum blockchain, a dApp browser, an API and an SDK allowing for app development and connecting dApps to non-blockchain businesses.
The team report growth of over 1000% since the beginning of 2018 with 12,000 daily active users and over 144,000 downloads so far. Trust Platform is powered by native TST tokens. TST is ERC-20 compliant and will be required to monetize dApps and receive payment.The platform also funds community-allocated grants for dApp development.
The platform has different elements for different use cases. Developers can use the SDK to create applications which can then be distributed and monetized on the decentralized, community-curated dApp marketplace created by Trust Platform. The dApps can also be browsed on the project browser, and the browser also allows the Trust Wallet to interact with any dApp safely. This is achieved via the API which securely communicates between the Wallet and other applications.
The marketplace is community-curated,and TST holders will decide which dApps get listed – developers will have to stake TST to be considered for listing, and the deposited funds are non-refundable and will be forfeit if the application is rejected. In this situation part of the proceeds are allocated for bounty rewards to the TST holders vetting the dApp and the remainder goes to the Token Contract fund. The fund processes all fees within the ecosystem and acts to incentivise all participants (40% of proceeds from the fund go to developers, 30% to community reserve pool, 20% towards grants for dApp development, and 10% for the marketing pool).
While many of the solutions being tackled by this project are already available,Trust Platform is arguably unique for managing to combine the different features in one single project, seemingly with some success already. By creating a set of tools and technologies that all work to provide solutions to problems faced by other Trust Platform features, the project creates a unique ecosystem enabling developers and dApp users to interact in creating and suppporting new decentralized application technology. [MORE]
The Trust Platform summary was originally published on the Amity Blog. The Amity editorial team of cryptocurrency experts and writers predominately covers whitepaper summaries of ICOs and long-form articles about topics that interest their community.
Read more about this and other ICOs at BlockTribune’s ICO Wiki