Props Project Moves From Private Blockchain Over to Algorand

Props Project Moves From Private Blockchain Over to Algorand

The Props Project, which includes popular dating app Dating.com, is moving over to the Algorand blockchain.

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Props Project, a decentralized network of apps including Dating.com, is migrating from a private blockchain to Algrorand (AGLO).

Props’ network of independent apps uses Props Token as a reward mechanism. Currently it has over three million users across various apps. The company developed PropsChain, a private fork of Ethereum that currently handles 50,000 transactions an hour. 

No need to sacrifice

However, to achieve greater scalability and transparency, the company decided to move to Algorand’s public blockchain. Algorand CEO Steven Kokinos told Cointelegraph that Algorand was unlike “first generation blockchains” in that it does not have to sacrifice scalability for security or decentralization:

“Up until now, people would have to really deploy private Blockchain in order to get the scale and throughput if they had large user bases. And if they didn’t, then they could consider a  decentralized system. I think from the Props standpoint, it’s an application or a group of applications that really make more sense on a public network, but they just didn’t have an avenue to do it. So we’re really excited to see them deploy on Algorand and bring their users on to the network”

Integration with popular dating network 

Dating.com, a conglomerate of 15 international dating apps that have more than 73 million registered users between them, invested in Props Project and intends to integrate Props into some of its applications.

Nick Grossman, a partner at Union Square Venture, which is another Props Project investor, said: 

„Props is bringing one of crypto’s killer features — enabling participants to share in the wealth generated on the networks they help grow — to mainstream apps.”

Blockchain has often been criticized for a lack of adoption, so to see its adoption by a consumer-facing project with millions of users is a promising sign.


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The Props Project, which includes popular dating app Dating.com, is moving over to the Algorand blockchain.

Props Announces First SEC-Approved Consumer-Facing Blockchain Token

Props Announces First SEC-Approved Consumer-Facing Blockchain Token

Props says its consumer-facing token is the first of its kind to be approved by the U.S. SEC under Regulation A+

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Delaware-based blockchain organization Props PBC has released a token approved by the U.S. Securities and Exchange Commission under Regulation A+, according to a press release on June 11.

According to the company, this is “the first consumer facing crypto token qualified by the SEC” via Reg A+. As previously reported, Reg A+ is an alternative to conducting an IPO that is intended to accommodate startup businesses seeking initial funding.

This token has been issued on the Ethereum blockchain. According to the announcement, the Props platform is capable of abstracting a blockchain infrastructure for applications, providing a plug-and-play solution for apps to integrate Props tokens.

Props is reportedly is a rewards token that can be used within apps to bolster user engagement, such as within the streaming platforms YouNow and XSplit — a gaming-focused streaming service.

As previously reported by Cointelegraph, Ubisoft’s Entrepreneurs Lab has also been researching the use of blockchain-based incentive tokens and activities to boost user engagement. The company has been researching Smart Challenge, Azure’s gaming rewards platform, and has tentatively found — via pilot tests — that it boosts streamer viewership and gameplay numbers for the game being streamed.

The Props token is also supposed to provide a new financial vehicle for content creators to secure a steady stream of income. Prominent YouTube content creator and Props investor Casey Neistat said:

“Online video content made by independent creators has become massively popular, but still lacks diverse ways for creators to turn their content to a meaningful source of ongoing income.”

On July 10 Blockstack announced that it was the first organization to receive the SEC’s blessing to run a public token offering via Regulation A+.  Blockstack founders Muneeb Ali and Ryan Shea said it took $2 million and 10 months in order for them to secure the SEC’s go-ahead.


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Props says its consumer-facing token is the first of its kind to be approved by the U.S. SEC under Regulation A+