The creators of Ethereum-based chat app Consentium have shared their new development roadmap, following their successful token sale, which ran from January to April 2018.
The Consentium app itself is described by its developers as ‘platform for communities’. The company aims to create Asia’s first community-driven chat application to boast a multi-cryptocurrency wallet and group monetization in the same platform . In this way, cryptocurrency would be used as a reward for users forming and nurturing strong in-app communities.
To achieve its goal, the Consortium team will be busy in a number of areas over the next few months, creating a new identity for the platform, locking down app functionality and improving the community monetization algorithm.
According to the developers, Consortium will have a new look as well as a new website in a few weeks, with their app development release going live on Android on August 1 of this year. An iOS release will follow on September 10, 2018.
Consortium hopes to have fully integrated the Chat Community Monetization Model (CCMM) across all platforms by October 2018. The purpose of the CCM is the automation and incentivization of the growth of the in-app community, letting developers, content creators or merchants to monetize their activities.
The Consentium app and website will have language support for English, Chinese, Korean, Arabic and Japanese. According to its developers, the two main selling points of the Consentium app are the chat system and the multiple digital currency (C2C) wallet.
The chat system allows individual users to interact with each other, or with groups and communities. In this way, content producers can produce unique material and create channels sharing it via communities to promote brands. This facilitates multiple monetization opportunities for a whole host of communities across one integrated platform. Consentium believes that integrated add-ons and tiered reward systems will mean it can leverage its app and services more precisely and efficiently.
Consentium have devised a reward system for its chat application, by which groups are graded by size (the number of users they have) and quality (reputation of users), with the aim of encouraging vibrant, healthy communities and increasing the volume of transactions on the platform.
Consentium’s E-Wallet is compatible with a range of different cryptocurrencies and allows secure peer-to-peer transactions between both individual users and groups, with low transaction fees. Consentium Tokens (CSM) are based on the Ethereum platform, the global number one smart contracts blockchain. The company chose to use Ethereum due to its balance of speed and token liquidity.
The Consentium team has affirmed its commitment to continually evolving the platform’s user experience by adding new features in tandem with high-level security and encryption functionality.