There are a lot of crypto projects floating around these days and most of these projects provide almost the same redundant services. Recently, BlockPublisher got in touch with the Chief Executive Officer of APIS, Ronny Yoo, who explained how the APIS token is different than the rest.
APIS is essentially masternode platform that wants to make access to masternodes easier for the crypto users so that maximum benefits can be reaped out by them.
Explaining the difference of the APIS token from the rest, Ronny stated:
“To set up an existing Masternode, thus far, a significant amount of asset and high level of IT knowledge have been required. Thus there are multiple businesses with Masternode sharing service but they impose an extreme commision to investors and keep them waiting indefinitely until asset for setup is fully collected. At the same time, since their management is rather vague, it is hard for investors to have trust in them.
But on APIS Masternode platform, there is no minimum requirement for Masternode set up so it is affordable and we impose a negligible fee of about 1%, lifting the burden for users. Furthermore, we have set up multiple types of Masternodes including DASH, PIVX, SYS so users can select and participate immediately in Masternodes they want and this whole process is absolutely transparent since it is based on Blockchain.
Other than simplest Maternode participation, APIS Masternode platform provides access to various information, news, and event about Masternode so investors who are interested in Masternode would find our platform more attractive. As described, Masternode mediation platform is focused on lowering the boundary of cryptocurrency market. Smart Contract on Canvas, Address Masking, and Mineral system is focused on expanding Blockchain’s area.
– Smart Contract on Canvas
The existing smart contract was focused on developers’ system implementation and there was only little consideration for user UI, thus there have been difficulties for a wider range of users to access it. To solve this problem, APIS has constructed a user-friendly smart contract environment, Smart Contract on Canvas and supports ‘simple, fast’ smart contract for everyone.
– Address Masking
Current address system is extremely inconvenient and needs to be improved. AddressMasking allows users to register alias with a format similar to an email address like JOHN@ME The simplified address consists of a name(JOHN), identifier(@), and a domain name(ME) and this system can increase user recognition of each address and resolve issues arising from sending and receiving complex address.
– Mineral System
Unlike the bank’s fee exemption system, most of cryptocurrencies in market charge a fee for every single transaction and this could be deemed unreasonable and might even antagonize some users. APIS aims to fix this with Mineral System.
In APIS platform, transaction and Smart contract fees can be paid by Minerals and they will be distributed in proportion to the amount of APIS in users. APIS platform users can purchase Minerals whenever they are in need, with APIS. This way, we will improve the existing fee system and generate more active transaction than before and make trading more convenient to help cryptocurrency expand its domain to our
– Smart Contract Binary Updater & Freezer
We are preparing function that can update deployed smart contracts’ contract code. With this function, developers can apply the security patch or reflect user requirements.
– Transaction Two-Factor Authentication(2FA)
On sending transaction, we provide two-factor signing with a private key(possession) and user’s own password(knowledge). With this authentication method, users can keep all the assets secure in case of private key exposure.”
As we move forward in time, it is not very likely that all the projects floating around will survive. Market saturation will ultimately lead to the extinction of most of the projects. Only those which provide efficient services and viable use-cases are expected to survive in the crypto space. APIS has targeted a very important niche of the crypto and blockchain space, the masternodes. Lower fees, address masking, the mineral system, two-factor authentication etc. are some of the features that make it stand out among the rest. Now, it remains to be seen how it tackles with the trials of time as market saturation reaches its peak.