Color is the next generation platform for high-performance sophisticated decentralized applications (dApps). Color utilizes its 'Spectrum' technology that enables enterprise-level speed and scalability while hosting thousands of dApps. Color dApps will be powered by a single unifying cryptocurrency the "Color Coin (COL)". The New Color Standard. Think Color.
The Color Platform utilizes 'Color Spectrum' technology to revolutionize the dApp Ecosystem. The 'Pixel Program' supports the fair distribution of tokens and simultaneously growthhack the initial userbase through network effect mechanisms. The new P2P consensus algorithm solves the problem that Ethereum has been confronting.
Color Spectrum separates data streams from code and effectively manages concurrent execution of sophisticated dApps. Color Spectrum technology
consists of distinct layers for data processing and committing data into blockchain. Spectrum enables users to use dApps in their daily life.
Pixels come together and create a Picture. Fair distribution of tokens has always been a problem. This is why the Color Platform is focused on the fair distribution early tokens and the continued usage of tokens. The "Pixel Program" is a network effect driven referral program that distributes "Pixels". Pixels are awarded on a periodic basis. Pixels in their original form do not have any value. The only way Pixels have value is by sending Pixels to other users. Once a new user receives a Pixel, the Pixel will be converted into Color Coins. The "Conditional Sharing Mechanism" aims to disincentivize hoarding and increase overall user participation in the system.
P2P CONSENSUS ALGORITHM
To minimize power consumption and transaction costs, a new solution to the Byzantine General’s Problem (BGP) is necessary. Researchers for the Color Project are currently at work testing a system that is a vast improvement to any currently implemented solution to the BGP. Most importantly, this solution maintains decentralization, security, and allows for scaling and speeds surpassing centralized payment providers such as Visa/Mastercard. The new consensus algorithm solves what the PoS (Proof of Stake) model originally hoped to achieve at scale, while still maintaining decentralization and security.
We are still reliant on prototype level dApps that are plagued with scalability issues. Color aims to revolutionize the dApp ecosystem by developing Enterprise-Level dApps. The Color Team has dedicated massive amounts of resources to build Mega dApps. Currently, there are already more than 10 dApps being developed on the Color Platform. Color dApps are powered by the single unifying Color Coin (COL), thereby making all the applications interoperable.
Dailytto is a lottery-based reward application. It is a compensating online advertising platform that uses blockchain technology to assist in retargeting and sending out appropriate promotions and rewards. Users earn lottery tickets when they engage in rewarding ads by downloading the app, registering for the website, watching the video ads and referring friends, etc. The winning lottery numbers are decided by an algorithm for choosing the top 5 numbers that are voted by the lottery applicants. With blockchain technology, no one can fabricate or predict the results. As Dailytto applies a lottery system that’s familiar to over 500 million people, it will be able to scale up globally. The service will be provided on Sept, 2018 through the Color point mechanism.
Reward Inc. is a reward app where users can earn promotion points through simple activities such as attendance, watching in advertisements and inviting friends. Users are divided into 12 ranks from intern to president based on points they’ve earned within the app. Reward Inc is very similiar to 'level up' games. When users are promoted, they are able to earn more points and exchange them for Color coin. 'Promotion' is the most important factor to earn more points on Reward Inc. The service will be provided on Oct, 2018.
Color Design is an interior platform supported by the The Chosun Ilbo (Korean newspaper publishing company), and Living Sense (One of the most famous Korean Home & Lifestyle magazine). It is an interior design platform based on the ranking chart. Color Design stores and manages information such as interior designs, customer evaluation data, and user information on the blockchain. Color Design simplifies the process and reduces costs to a mere 10% compared with existing interior platforms. Customers who take part in a design project assesment will be rewarded with Color tokens based on the accuracy of evaluation. If designs are ranked at the top of the daily chart, designers will be rewarded with the Color tokens accodring to their rank. Color Design’s ranking system based on the blockchain technology will help effective selection of interior design companies.