Blockstack which claims itself as a decentralized computing network and app ecosystem is currently restricting its app mining pilot program.
Per the official announcement, Blockstack’s app mining program is undergoing “several structural challenges”. It’s worth noting that the app mining program of Blockstack operates as a revenue source for developers against developers building their apps on Blockstack.
The news is certainly true following Blockstack CEO’s statement published in an official blog post. On Monday, CEO Muneeb Ali elaborates why the decision was crucial for the company. Ali states that the process of finding deserving apps to incentives is “complicated”. Furthermore, he quickly notes that the company is working on an algorithmic system that is designed to rank “thousands of apps in different categories”.
More so, the founder’s statement remarked that the App Mining Program lacks accurate information in terms of active users of each application. This being said, Blockstack is building a mechanism to track active users of each decentralized app whilst ensuring the ‘data and privacy’ of existing users.
Besides, he mentioned the need for an independent entity as he believes that the app via Blockstack is “not a sustainable method in the long run”.
“Figuring out a ‘permanent home’ for App Mining is important before the program can resume,” he added
In late January this year, blockstack reported that they hit a massive network. The platform has reportedly reached over a million verified users, resulting in Blockstack to use the locked fund worth $6.5 million which was raised in 2017. At that time, Larry Cermak who is spearheading the research at The Block stated;
Blockstack apparently has one million verified users, which unlocks $6.8 million for them. That’s more than Bitcoin active addresses. And Blockstack has less than 36k followers on Twitter. But suuuure, they have one million verified users. Lmaoooooooooo https://t.co/oRYPPjHhpk
— Larry Cermak 🫡 (@lawmaster) January 30, 2020
He quickly noted that the users are different names than those of usernames.
