Traditionally the term mining in cryptocurrency refers to the process of contributing compute resources to the network and earning a reward. In the Blockstack Ecosystem, instead of just mining through computation, developers mine by building apps and the Blockstack community funds them simply for being pioneers in the emerging Blockchain software market.
We believe app mining represents a revolution in app funding, allowing small teams to bootstrap without advertising or venture capital. Each month, qualifying apps compete for funding. Qualified apps are evaluated and ranked by expert app reviewers. The better your app, the higher payout you earn.
The pilot run began on December 1st 2018, with 34 Blockstack Apps enrolled. A previous alpha run in Oct 2018 included 17 Blockstack apps. App mining is a new mining model that we expect will evolve and improve over time. We look forward to feedback from our community regarding the App Mining process and program.
On the first of every month (or as listed on the calendar):
Over the next two weeks:
On the last day of ranking at 11:59pm ET: App mining results are sent to Blockstack by app reviewer partners.
On the 15th (or as listed on the calendar): Blockstack team performs App Mining algorithm as referenced here.
On the following weekday:
A week later:
The following calendar shows events each month related to App Mining:
Starting in August 2019, App Mining payouts will include an additional $100K payout in Stacks tokens (STX) on top of the existing $100k in BTC. And starting in November 2019 we plan to ramp the total monthly payout and switch entirely to paying out in Stacks tokens. By May 2020, we plan for the monthly payout to be $1M worth of Stacks tokens. App Mining rewards in STX earned before the hard fork will be accrued, and the tokens will be distributed following the hard fork. We expect the hard fork to occur approximately 30-60 days following the end of the term of the RegA+ cash offering.
For more detailed information, see How payouts are administered in the Blockstack documentation.
Stacks (STX) token is the native utility token of the Blockstack network and the only token currently available as part of an SEC-qualified sale. Stacks tokens are consumed as "fuel" when users register digital assets, like usernames, or when they register/execute smart contracts. Using Stacks, developers can build and distribute apps that let users maintain ownership of their data and protect their digital rights.
Learn more at: https://stackstoken.com/faq/
Traditionally the term mining in cryptocurrency refers to the process of contributing compute resources to the network and earning a distributed of new tokens as a reward. On the Stacks blockchain, developers can
mine by contributing apps to the ecosystem and making applications the community wants.
Your app should integrate Blockstack authentication for logging into your app. Your finished app should be available to the public for use. The application must use a registered domain name and the app should be hosted at a URL belonging to the domain. The app website must use a secured (
https) connection. In the future, App Mining may reward apps that have taken steps to further decentralize, such as utilizing Gaia storage or the publishing your app to the Blockstack Naming System. Test flight apps, hello-world apps and apps created through blockstack tutorials (e.g., animal kingdom apps) do not qualify.
Complete the submission form on App.co. Blockstack suggests registering several days before the ranking deadline — our team needs to verify your details to ensure your app qualifies. Full enrollment details can be found here. When you have met all the requirements, you should see your app listed on this page.
Your submission materials are due at 11:59 PM Eastern Time US on the last day of each month. For example, if you are making a submission for March, your materials must be submitted on or before Feb 28 at 11:59 EST.
You need only to submit your application once. Each month after your submission, your app is competing in App Mining.
Part of the ranking process includes an assessment by the Product Hunt app reviewer via their community vote and their internal team vote. You can find information on the algorithm in this documentation.
Your product's launch on Product Hunt has an impact on your final App Mining ranking as stated in the algorithm information. If your app has not been
hunted yet on Product Hunt, you have the option to hunt the app independently or to ask Product Hunt to hunt it for you. Make sure you understand the hunting process. Only hunted products can be featured by Product Hunt. More information on successful product hunt launches can be found on the Product Hunt blog.
Blockstack will email each miner about the hunt process at the start of each App Mining review cycle. You should feel free to let us know your preference, hunt yourself or by Product Hunt, before the review cycle.
If you’re developing a traditional server-side application, you can still take advantage of Blockstack authentication. For an example, check out our Ruby on Rails gem.
App reviewers are currently selected by Blockstack PBC. Reviewers are entities that have a proprietary methodology that helps them make objective judgements for why a certain app might be better than others. We strive to engage a diverse coalition of app reviewers with the goal of making application ranking objective and resilient to abuse.
The app reviewers are Product Hunt, TryMyUI, Awario, and the New Internet Labs. See here for more details about each reviewer. Future reviewers could expand to community election. Please see our GitHub repository to raise issues or make suggestions for App Mining.
App reviewers have a proprietary methodology that helps them make objective judgments for why one app might be better than another. Each app reviewers determines the data, formula, and personnel they wish to utilize. For example, Product Hunt can tap into their community data to determine relative app popularity. Reviewers must publish their methodology periodically to ensure transparency.
To learn more see the detailed explanation of our ranking algorithm on our documentation.
Apps are ranked by all app reviewers.
As part of the ranking process, there is an assessment by App Reviewer Product Hunt via their community vote and their internal team vote. More info on the algorithm, here. The Hunt launch will have an impact on your final ranking, as you can see in the algorithm breakdown. Here is more info on Product Hunt launch best practices. In general, sharing and responsiveness to questions are encouraged, and it might help your community reception if you choose to hunt the app yourself. If not, Product Hunt can hunt your App as well.
Apps will be hunted every 6 months, so if you hunted your app in a past month, as long as you are in the 6 month time window, you will not have to Hunt the app.
Given the pioneering nature of the program, we are being careful and starting in a somewhat centralized fashion that allows for necessary diligence in the early stages, for example, the current pilot phase. We don’t want to bake in assumptions that have not been validated. The downside of this protection is some level of centralization, which we are taking steps to reduce over time. The pilot is the just the first step in creating a fair system that can be relied upon by founders and contribute to the growth of the Blockstack ecosystem.
Blockstack plans to move along a path to decentralization and App Mining will too. It is important to highlight that initially, App Mining will purposely have a few points of centralization highlighted below, which can become decentralized over time (all plans are subject to change, legal approval, and applicable law).
Currently, Blockstack PBC elects app reviewers. In the future, we anticipate gradually transitioning to community elections of App Reviewers.
Currently, registering apps is regulated by Blockstack PBC through app.co/mining. In the future, we anticipate transitioning to publishing on designated Blockstack namespaces via our public blockchain.
Currently, votes are aggregated by Blockstack PBC and administered via App.co. In the future, we expect that votes will be collected through the protocol itself.
Currently, payouts are issued by Blockstack PBC. In the future, we expect that payouts will over time be generated and deployed on an automated basis.
We are taking potential threats very seriously and hope to create a fair system that continuously reinforces trust within our community for the long term.
We are currently consulting with a team of 3 Ph.D. Game Theorist professors from Princeton University and New York University to determine thoughtful methods to protect App Mining from being attacked and/or abused. Our goal is to be as transparent as possible, but App Reviewers may reserve the right to keep some secrets in their formula to avoid bribes and gaming, and the algorithm that combines all of these score may be tuned in the future to account for new learnings.
The Game Theorists are working with us to create a technical paper and broader documents like blogs explaining the overall mechanism.
The App Mining GitHub repo is the best place to propose changes to App Mining.
The Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC. The information in that offering statement is more complete than the information we are providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. The offering is being made only by means of its offering statement. This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
An indication of interest involves no obligation or commitment of any kind. Any person interested in investing in any offering of Stacks Tokens should review our disclosures and the publicly filed offering statement and the final offering circular that is part of that offering statement. Blockstack is not registered, licensed or supervised as a broker dealer or investment adviser by the SEC, the Financial Industry Regulatory Authority (FINRA) or any other financial regulatory authority or licensed to provide any financial advice or services.
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words:
believe, or other comparable terminology. Forward-looking statements in this document include, but are not limited to, statements about our plans for developing the platform and future utility for the Stacks Token, our Reg A+ offering and launch of our network, and collaborations and partnerships. These statements involve risks, uncertainties, assumptions and other factors that may cause actual results or performance to be materially different. More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the
Risk Factors and
Management’s Discussion & Analysis sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.