Zap Store – ZAP ICO Decentralized Applications Smart Contracts?
The Zap Store is an online marketplace that is designed specifically to provide monetized access to Dapps, applications sometimes referred to as decentralized apps or Dapps, that allow developers to interact with the Ethereum blockchain in unique and specific ways. Zap Store monetizes this content with its own cryptocurrency token, appropriately named Zap.
What Is Zap Store?
Zap Store is a creation of and is maintained by The Synapse Foundation, and is staffed by more than a dozen luminaries sourced from major blockchain and cryptocurrency research and development incubators.
Members of Synapse Foundation are from Bitcoin Center NYC, Blockchain Tech Corp, Bitcoin ATMs, Blockchain Apparatus, VoteWatcher, and Public Appeal, all of which are thoroughly vetted and well-respected organizations that promote either blockchain technology, open-source and transparent business and political engagement, or both.
All development and coding for Synapse Foundation, the Zap cryptocurrency, and the Zap Store are open source and are freely accessible through the Foundation’s website.
Zap Store Product
The Zap Store, which is still in development but has plans to be launched on both Google Android and Apple iOS devices, is unavailable at this time of writing. However, the Zap cryptocurrency token is currently for sale through the Zap Store website.
Out of the 520 million Zap tokens being generated during this public token sale, 173 million of them – approximately 33% – will be available for purchase exclusively through the Ethereum cryptocurrency. This is appropriate considering Zap Store is being developed as a marketplace for Ethereum-based decentralized apps.
As of this writing, 42.8 million Zap tokens have already been sold according to the Zap Store website. Unfortunately the website does not have any information available regarding the Ethereum to Zap conversion rate – additionally, the token sale is not open to residents of the United States or China.
Zap Store Opportunity
The opportunity represented by Zap Store’s token sale is to invest in a new, Ethereum-backed cryptocurrency that will be used as the exclusive currency of the incipient store’s marketplace. Individuals can either hold the tokens in the hopes that the valuation will increase or they can use these tokens to purchase Dapps once the Zap Store goes live, provided they are not in the US or China – or they can mask their IP address to circumvent these limitations.
Zap Store Verdict
Synapse Foundation’s pedigree in regards to its executives and staff is rather ironclad, so there’s no real worries about the Zap token being part of a “pump and dump” scheme. However, we do feel that its usefulness is quite limited because of the restrictions potential investors need to circumvent – especially the geographical limitations.
There are, of course, ways around this; we won’t specify, but there are methods for making it seem as if your computer is located outside of the US or China. You’re welcome to research those on your own and accept the risk of this behavior.
Other than that, Zap’s scope as a token isn’t very broad. If the Zap Store becomes wildly successful at launch, investing now may be a good idea – otherwise it’s a bit of a gamble.