Crowd Machine: Making dApp Development Effective and Quick!
As soon as you click the link to open the Crowd Machine website, you are greeted with an odd message - 'We are the future of the multi-trillion dollar software industry'.
There are two obvious things that registered in my mind after I read this sentence.
First, a multi-trillion dollar industry! Is that even correct?
After a quick Google search, I found out that this was in fact accurate. According to a report by Gartner Inc., the global IT sales reached 3.5 USD trillion in 2017. This was a 2.9 percent increase from the previous year and judging by the recent trends, 2018 should see an even bigger surge in the market value of the software industry. Much of the recent development in the software industry has been focused on the decentralized ledger technology. In the same report, Gartner predicts that the value of block chain based apps by the year 2025 will exceed 176 billion US dollars.
Well, the other half of this duplet that raised my curiosity was the belief that the Crowd Machine team had in their project. They made a bold statement when they called themselves the future of the software industry. Intrigued, I decided to invest further.
What is their Story?
The team behind Crowd Machine believe that the demand for software products and specifically blockchain based applications are only going to increase in years to come. But there is a mismatch of this demand with the supply or the ability of the market to make these products available. With the number of ICOs and other blockchain projects launching every other day, there is a scarcity of developers who can build quality infrastructure.
To address these issues, the team at Crowd Machine is trying to build a community of developers and digital device owners where each device on the network will function as an execution medium for decentralized apps. In other terms, Crowd Machine consists of a decentralized, peer-to-peer network of computers called the Crowd Computer.
Crowd Machine is launching their app development platform - ' Crowd App Studio'. This platform will allow developers and non-developers to create decentralized applications and smart contracts and do not require any coding knowledge. The Crowd App Studio is functionally rich and can be used to build an application which can meet every standard. The platform is blockchain agnostic i.e. developers have no limitation regarding the use of their preferred cryptocurrency. Developers can choose to create applications in BTC, ETH or any other ERC-20 based alt coin.
The technical power to work on this platform will be provided by the Crowd computers. I already mentioned Crowd Computers earlier in brief. Basically, Crowd Computer is a peer-to-peer computational network that uses the technical capacity of individual devices connected to the network to provide resources to the users of App studio. The members of the network who provide this technical capacity will, in turn, be paid just like landlords are paid rent by their tenants. This decentralized peer-to-peer network provides unlimited technical capability to the platform which is only limited by the number of devices connected to the network.
Creators of the application have the option to then store there source code in the Crowd Share repository. This library of source codes can be used by novices and experts alike to develop their own application. Creators of the source code will be paid to every time someone uses their source code. As this Crowd Share library grows, so will the adoption of the platform. Crowd Machine is planning to invest in cultivating this library by making available tutorials and establishing an accreditation process.
All of the transactions and the rewards on the platform would be facilitated by the CMT token.
About the ICO
CMT token is an ERC- 20 Token and a total of 11,822,700,000 will be budgeted during the token sale. The token sale began on November 20, 2017, and is scheduled to run until late March 2018 according to their website.
One CMT token is valued at 0.14 USD or equivalent BTC or ETH and there is a bonus for early investors.
CMT tokens would be distributed 30 days after the close of token sale and all the unsold token would be burned.
There is also no limit for investors in buying the token. The soft cap is set at 200 Million USD while the hard cap is set at 338 Million USD.
On their website, Crowd Machine mention that they have reserved 20% of the tokens for the team.
Opinion
Crowd Machine has an experienced team with a seasoned CEO and an insightful advisory team. They've developed proprietary products in the shape of Crowd App Studio, Crowd Computer and Crowd Share. And with the help of these ingenious products, the team at Crowd machine believes that they can enable the increase the pace of creation of blockchain based applications up to 45 times faster.
The market for blockchain is only set to grow more in the coming years and if Crowd Machine project stays on its course, it can well become very valuable.
Website: https://www.crowdmachine.com/
Whitepaper: https://www.crowdmachine.com/wp-content/uploads/2017/11/Crowd-Machine-Whitepaper.pdf
Written by ollivander7
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616