Idea & Token
To understand what Elph is, imagine Google Chrome with Apple App Store on top of Facebook Authentication, but made for decentralized Internet. This is a unified store for DApps with a search engine to help users find the app they need and clearly see current trends in the world of DApps. The Elph Protocol manages the submission and ranking process to maintain the highest quality of DApps (decentralized exchanges, games, fee-less marketplaces, etc.) So, users can be sure they see only the best DApps. Elph also provides a wallet for Ethereum-based digital assets (ERC20 and ERC721 based tokens). The wallet will have a number of enhanced features, such as server-side backup of user’s private key, no gas fees, integrated exchange, and address abstraction.
Their token called ELPH will be used by:
– DApp developers. To apply into the store, a certin amount of tokens must be staked.
– Curators. Depending on the amount of tokens they hold, curators can upvote and downvote dApps in the store.
– Network participants. All participants are rewarded with ELPH – consumers (for finding the best DApps), developers (for the DApps), and curators (for proper curating DApps).
The team consists of 5 software engineers bringing their experience from Google, Yahoo, Coinbase, Box, and Steem. CEO Ritik Malhot is a software engineer and entrepreneur, previously worked at Twitter and Intel, founded Steem (sold to Box), a media cloud storage product. The team has also an advisor Dawn Song, Professor at UC Berkeley with research in blockchain tech, decentralized systems, and computer security. The team is strong and highly professional.
The guys from Elph have chosen a clear mission to make DApps as simple in search and use as usual applications. A platform for DApp, a DApp store, a search engine, and a crypto wallet – here are the ingredients of Elph. Considering the team entirely consisting of experienced software engineers, we have no doubts these guys will create the platform. They don’t have a whitepaper yet, but they already do have an MVP for Mac and Windows, and working on apps for Android and iOS, and a tool kit for different protocols for DApp developers. We also emphasize low hype and community development processes. The project is on its early stage, so there’s a chance they will fix it later.
An interesting project with a clear idea, a feasible feature set and a highly professional team. Deserves your attention.