2018 has been described as the year of the dApp. According to different sources, around 2,000 blockchain-based applications have been rolled out on the Ethereum network alone, giving their users plenty of different ways in which to interact with the cryptocurrency world or to connect it to the real economy. That, at least, was the theory. In practice, many of the first generation dApps suffered from poor design and lack of originality. They copied each other and repeated the same mistakes.
To succeed, a new dApp project would need to do something to stand out in the crowd. Uptherium does not propose to reinvent the wheel with any of its offerings. Instead, its promise is that of a well-designed ecosystem containing several mutually complementing dApps that would serve as a one stop shop for all of their users' cryptocurrency needs. By matching or exceeding industry standards with its dApps and offering an inventive reward scheme, Uptherium hopes to raise dApps to a whole new level.
What are Uptherium's dApps?
By registering on Uptherium's platform, users will gain access to four dApps powered by the UPZ token. Joobra.com will act as a social media and news platform, collecting content from different sources while also enabling user contributions and voting. MyTokenSwap will enable quick and easy conversions between different fiat and cryptocurrencies. Payments with point-of-sale currency conversions will be carried out through Uptherium Pay. Last but not least, Ryze Alerts shall provide customiseable trading signals through a unified dashboard, on a multi-tier monthly subscription model. On top of that, it will grant users access to a UPZ-driven binary options market.
To join this platform, users would need to purchase one of four membership levels, each of which will provide increasingly substantial privileges such as a membership bonus, a discount, access to exclusive announcements, voting rights for selecting new dApps to be developed by Uptherium and access to a multi-signature wallet. Each member will receive a share of Uptherium's fee and advertising revenues in UPZ, which could be unlocked by performing simple verifiable actions to promote the platform (for example, by posting about it on social media). Uptherium members will also earn UPZ through proof-of-stake and proof-of-action algorithms. The latter would involve being rewarded for specific activities on the platform (like contributing to Joobra.com).
What gives Uptherium a competitive edge?
Uptherium distinguishes itself by its user and community focus. It promises to let them adjust their interactions with the platform according to their needs and to let them play an active role in shaping its further development through voting. Its token release and reward schemes could help ensure long-term interest in the platform's growth while also potentially reinforcing a cost-effective marketing strategy. By providing a diversified offering aimed at a broad audience of cryptocurrency users (whether they are more interested in exchange trading or in making purchases), Uptherium hopes to ensure its relevance in the bear market. It also promises that its technology will be streamlined and efficient, supporting a high transaction volume at a convenient speed.
ICO details
A comprehensive cryptocurrency dApp offering
Uptherium promises a high level of delivery, but the ideas behind its individual dApps are not, in themselves, original. Putting them together in one platform is also not unheard of. The main unique selling point of the platform is therefore its community-based approach. It is experimental and therefore risky, though if it succeeds, it should help kickstart the platform's expansion.
Would enough people be willing to advertise the platform in exchange for its tokens, especially under notoriously adverse market conditions? That question can't be answered yet. However, it is clear that Uptherium depends on a particularly high amount of buy-in from its potential users. It may need to do more to draw them in and to differentiate itself from similar projects. If it does so, its model might allow it to become a substantial long-term player in the cryptoindustry.
Links
Website: https://uptherium.io/
WhitePaper: https://uptherium.io/wp-content/uploads/2018/11/Uptherium-WhitePaper.pdf
Telegram: https://t.me/uptherium
Facebook: https://facebook.com/Uptherium-2194546714166567
Twitter: https://twitter.com/Uptherium
Medium: https://medium.com/@UpTherium
ANN: https://bitcointalk.org/index.php?topic=5060270.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.