APOLLOX: REJUVENATED DECENTRALIZED GLOBAL E-COMMERCE PLATFORM
OVERVIEW
It is with great pleasure i sincerely wish to inform you about a project with the unique features to improve our ecosystem. Basically, as always, I would like to highlight out that my articles are never and in no way any financial advice and will be a guide to adequately inform the masses about a unique project.Nevertheless they represent solely my opinion on a project nothing more, and I have studied them extensively for my purpose. As with any decision in life, everyone has to self-responsible to get their own opinion based on research.
It is common knowledge that the blockchain technology is revolutionary.
This has led to the creation of a unique project to empower individuals in our ecosystem and boost the cryptoworld.
ApolloX Protocol is a set of built-in functionalities for all essential e-commerce transactions and community developers are encouraged to build more features set on top of the system.
BASIC FEATURES OF THE PLATFORM
Attribution Protocol
ApolloX’s attribution protocol allows shops to keep existing traffic channels with better transparency and lower costs. It also enables token based incentive for community driven traffic so shops can enjoy lower customer acquisition cost while customers can earn extra money from recommending products to their friends.
Payment Protocol
ApolloX Payment Protocol handles the end-to-end payment escrow process between buyers and sellers. It also supports third party insurance and the transformation between fiat currency and cryptocurrency on ApolloX platform. ApolloX Payment Protocol can prevent majority of online shopping scams with the help of distributed ledger and smart contracts.
Arbitration Protocol
ApolloX Arbitration Protocol solves post-purchase dispute and complaint settlement by employing the popular Deposit-Challenge-Vote mechanic in every dispute handling to ensure transparency and independence. When two members , usually a buyer and a seller, within the community cannot reach agreement on a case by themselves, either one of them can open a case by depositing a smaller amount of ApolloX tokens. The opposite party is required to deposit the same amount of ApolloX for this case and provide their reasoning.
Reputation Protocol
Customers rely heavily on the reviews and ratings of products and sellers on a marketplace to make decisions on their shopping choices. Therefore it is important to prevent people from manipulating the review system and encourage genuine reviews from verified buyers. To accomplish this, ApolloX Reputation Protocol is created to reward authentic reviews and penalize fraudulent reviews.
Oracle and Data Protocol
As a platform for e-commerce business, we rely on certain outside informations to keep the system running, such as logistics data and advertising data. This information will be provided to smart contracts as trusted data through the ApolloX Oracle Protocol.
UNIQUENESS OF APOLLOX
High Efficient Blockchain for Real-world applications
ApolloX is built with Tendermint-BFT and can integration with Cosmos and enable features like distributed exchange and bridging for other cryptocurrencies. We choose Tendermint as our top candidate for the following reasons. First, High performance over thousands of transactions per second.Second,.Proof-of-Stake based consensus mechanisms that is efficient. Third, Independent governance mechanism allowing quicker and cleaner resolutions to operations issues.
Large Data Storage
E-commerce applications usually generate large amounts of data in daily operation. It will be a great waste of resources if all that data was required to be stored on a blockchain. Thus in our design, we store certain non-core data off the chain and into a distributed database, such as Cassandra or decentralized data storage system such as IPFS.
Privacy Data Storage
Data stored on a blockchain is readable to every node of the blockchain, yet much information in an e-commerce application requires privacy protection, such as the buyer’s name and address. ApolloX handles the privacy data by encrypting them before storing them with the related parties’ public keys. For example, by default only the buyer and the seller have access to an order’s details, and our system will encrypt the order data with the buyer’s key and seller’s key. After encryption, no one can read the order’s data without authorization from the buyer or seller.
ROADMAP
Nov 2017
ApolloBox passed $1M monthly sales.
Dec 2017
ApolloX Foundation founded for exploring blockchain technology for e-commerce
April 2018
ApolloX releases whitepaper
May 2018
ApolloX Token integrated with ApolloBox app
FOR MORE INFORMATION KINDLY ACCESS THE LINKS BELOW
Website: https://apollox.network/
Whitepaper:https://apollox.network/whitepaperANN: https://bitcointalk.org/index.php?topic=4650252
Telegram: https://t.me/apolloxgroup
Blog: https://medium.com/@apolloxnetwork
Author's Details
Btt username : dulowegner
Btt profile : https://bitcointalk.org/index.php?action=profile;u=1196236;sa=account
ApolloX : TpcU0cAD5w