Blockstack App Mining Program to Increase Developer Rewards to $1,000,000 in STX in May 2020
App developers using Blockstack PBC, a decentralized computing network, will from May 2020 start receiving rewards of up to $1,000,000 per month in STX tokens. Announcing this, Blockstack said the program which was launched in December 2018 to award builders of great apps had achieved more success than they had initially hoped.
Since Dec 2018 the App Mining program has seen exceptional growth from 17 to over 130 apps, all earning a collective total of $800k. Today, we're excited to announce that we’ll be increasing monthly app mining payouts from $100k to $1 M in STX by May 2020: https://t.co/XJrH5vyvuE
— Blockstack (@blockstack) July 16, 2019
The App Mining Program rewards all those who design highly ranked apps within their Blockstack ecosystem. It allows developers to create safe and secure, privacy-oriented apps that ideally allows corporations to have total control of their data.
The program has recently earned fame, thanks to the guaranteed monthly payouts. It also is quite robust, holistic and community-driven with developers within the ecosystem earning lots of support from diverse sources.
Over the past eight months, apps launched from the platform have shot by about 10 times to over 150. This unprecedented growth, according to Blockstack, has enabled them to rethink how they could enhance it even better.
Much of this growth is attributed to the support offered by distinguished app reviewers. Product Hunt, TryMuUI and several others have constantly been providing data-driven feedback, something that has greatly helped improve the general look and feel of the apps.
Their honest reviews have helped improve app interfaces based on real-time awareness and engagements. Developers also get free support during launches, while users are reassured that their data on the apps are well protected.
Basically, with a set of predetermined criteria, vetted app reviewers do rank every app. They check its user experience and how good on digital rights it is. In the end, the app that ranks highly from those released via the ecosystem gets the highest amount of rewards.
Program Supports Growth of Blockchain-Based Services
One of the best apps created out of this program right now is Graphite Docs, a document management service built on Blockchain. The service is designed to protect freedom of speech and guarantee immutable privacy to groups constantly at risk, like the media.
Other creations of it are DMail, a secure, encrypted email platform that has no intermediaries, and BitPatron – a subscription membership site that’s resistant to censorship. These three products undoubtedly show how great developers working on it are.
Blockstack’s App Mining Program, according to Justin Hunter, Graphite Docs’ founder, has made it easy for talented app developers to secure funding with ease. He praised the program, saying that with it, builders of the next Google’s G-Suite and Dropbox are guaranteed of not only getting funded but also support from the Blockstack community.
His sentiments were echoed by Blockstack’s head of growth, Patrick Stanley, who admitted that many developers lack proper funding. According to him, the platform is focused on rewarding developers so that they keep creating apps that creating disruption.
Just recently, Blockstack went down in history as the first American company to secure the prestigious SEC qualification, thanks to its digital token offering. The company earned it under the SEC Regulation A+ framework.
Meanwhile, this August marks the start of extra $100,000 payouts in STX tokens aside from the usual $100,000 in BTC. All Bitcoin payments will cease from October with STX taking over from November, although at $500,000.
The amount will be increased further in February 2020 to $700,000 and finally hit the $1 million in May 2020. Also, they will accumulate all STX tokens earned before the hard fork and later distribute them during the hard fork, which is estimated to take 30-60 days.