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What is Storm (STORM)?
Future of STORM Cryptocurrency and know how to buy STORM

What is STORM?

#1 - Storm: The Basics

What is Storm?

Storm is essentially a gamified microtask platform that gives you the chance to earn cryptocurrencies in return for performing simple tasks such as participating in surveys, trying out new products or even watching videos.

Storm Development

  1. “Play”, “Gigs” and “Shop” are three core products developed by StormX. The Play was created and launched first. It gave its Android users cryptocurrency in exchange for playing games, was the first one to be created and launched. Rewards for doing so have amounted to more than 249 BTC, 570 ETH and 13M STORM.
  2. Gigs is another product that allows users, called “Storm Players”, to earn cryptocurrency for performing microtasks created by “Storm Makers”.
  3. The Storm ios beta program, featuring surveys and quizzes, was launched in June 2018.
  4. The key members involved in the StromX project include:
    1. CEO and founder Simon Yu
    2. CTO and security expert Rui Maximo
    3. COO Arry Yu
    4. Co-founder and software development engineer Calvin Hsieh.
    5. A team of gamification specialists, engineers, and marketing experts.
    6. An extensive list of lead advisors, which includes the CEOs, founders, and specialists of companies such as Bancor, Bittrex, Zynga, Transbiotech, etc.
    7. The Storm ICO took place in November 2017, during which it managed to raise more than $30 million.
    8. Storm has a growing marketplace in over 187 countries and has over 250,000 active monthly users.

 

#2 - What are the benefits of Storm?

Storm Technology

  1. Storm calls itself one of the world’s first decentralized marketplaces that involves microtasks. It is a commercial platform that combines StormX APIs and other proprietary softwares and tools for building Ethereum based smart contracts to execute tasks using STORM tokens.
  2. Storm Makers - who can be merchants, advertisers, or even companies - can post certain tasks on the portal by paying a certain amount of Storm tokens; Storm Players are users that complete these activities and are rewarded tokens called Bolts, for doing so.
  3. Bolts are redeemable for STORM tokens, making it an opportunity for Storm Players and Makers to be mutually beneficial to each other.
  4. Storm promotes the rise of global freelancer marketplaces. Moreover, task performers are not restricted by the geographical region in which they reside.
  5. Storm describes the journey of a user from being an amateur to a master user as a ‘trek’. A Storm player can be an achiever, disruptor, explorer, socialiser, philanthropist, or simply a player, based on the type of tasks he/she prefers to undertake. For example, a StormX achiever is a challenge-oriented user who is motivated to master new skills, while a StormX philanthropist is an altruistic individual who performs tasks to help the community. The player journey is divided into various phases, namely:
    - The Discovery phase,
    - Onboarding phase,
    - Getting immersed phase, and
    - Mastery phase.
  6. The player progress can be tracked according to the microtasks completed till date and the Bolts earned in return. The greater the number of Bolts earned by a player, the higher his/her rank.
  7. Storm Makers can engage players using various action-loops designed for each phase in the player journey, by giving them different options for earning Bolts.
  8. The inclusion of action loops results in a feedback mechanism wherein the system directly affects the goals and motivation of Storm players.
  9. StormX has introduced the concept of a gamified marketplace based on blockchain based smart contracts on Ethereum, with the STORM token facilitating all transactions. An option has been provided to enable STORM to be used as a Smart Token via the Bancor protocol.
  10. In addition, Gamified User scenarios enable:
    1. -Enhanced marketing visibility for freelancers
    2. -Training of StormX players for advancing their skill levels by performing more tasks
    3. -Gamified Project Management, where players are rewarded when they reach certain milestones or checkpoints
  11. Gamification of microtasks keeps users engaged and increases user loyalty. Users stand to earn tokens on activities like:
    - Creation of tasks
    - Completion of tasks
    - Ranking or categorizing tasks
    - Managing other Storm players
  12. Users also stand to receive a referral bonus of upto 125,000 Bolts for encouraging others to join the platform!

Storm Market

  1. The Storm Market, being a decentralized marketplace for its participants or the Storm Makers (including sellers, advertisers, companies, etc.) sources the services of freelancers in order to complete tasks of different levels. Storm Players (including consumers, viewers, freelancers, etc.), on the other hand tend to help carry out these tasks.
  2. Storm Players are rewarded with Bolts for carrying out tasks. These bolts are redeemable for Storm Tokens which can be sold or exchanged for other cryptocurrencies. The Storm players are also paid in Ethereum and Bitcoin cryptocurrencies.
  3. StormX, which is the company behind Storm Play, took a different approach to the digital marketplace, by transferring wealth between platform participants with cryptocurrencies through an Android Mobile application.
  4. Points can be earned in three distinctive areas:
    - Storm Play: With the Store Play application, various, opportunities are posted on the platform. It runs on the Ethereum Blockchain. Users can complete these tasks in order to earn and win rewards.
    - Storm Shop: This platform rewards shoppers and users with bonus tokens who buy specific products or request for services through it.
    - Storm Gigs: With Storm Gigs, users are provided access to the decentralized marketplace where micro-tasks are regularly rolled out. These tasks lie in different categories and can include QA testing, machine learning, freelancing tasks etc.
  5. These tasks tend to be implemented with the help of smart contracts, which are an agreement between task poster, that is, the Maker and task performer, that is, the Player. They contain all the necessary details about the job, it’s milestone, and the terms of payment.
  6. The end goal of the Storm Market is to completely reduce the task costs that are posted whilst ensuring that the players who fulfill these tasks are provided with fair rewards for their time.
  7. The platform aims on:
    1. Eliminating any type of friction between buyers and sellers without any middlemen.
    2. Reducing transaction costs compared to that of other traditional micro-task platforms.
    3. Removing risks and dispute costs of by having enforced rules within smart contracts.
    4. Giving out micro-rewards for micro-tasks performed.
    5. Giving opportunities to both Storm Players as well as Storm markers to reach broad audiences and help in efficient functioning of their businesses.

 

#3 - How to buy and store Storm?

How to buy Storm

  1. When you become a Storm player and perform tasks on the platform, you earn tokens called Bolts. These can be exchanged for STORM tokens.
  2. In addition, STORM can be bought on any major exchange such as Bittrex, HitBTC, or BitSwap.
  3. The largest largest cryptocurrency exchange, CoinSwitch provides an easy, hassle-free way to view all the available rates for Storm tokens across all its supported exchanges, allowing you to identify the best rate for your trade. It also supports 300+ other cryptocurrencies with over 45,000 pairings on its platform.

How to store Storm

As STORM is an ERC-20 compliant token operating on the Ethereum Blockchain, it can be stored on any Ethereum-compatible digital wallet - such as MyEtherWallet and Mist. Jaxx.io is one of the most popular choices when it comes to STORM wallets. It can also be stored on hardware wallets such as the offerings from Ledger and Trezor.

 

#4 – What is the future of Storm?

  1. As of July 2018, the price of a STORM token is equivalent to $0.0169135, the market cap being $76.01 million, and the total circulating supply being greater than 4 billion STORM.
  2. The all time high of $0.21369 was achieved in May 2018.
  3. But the coin’s future prospects are far from being bleak; predictions have been made that say that the price of a single token may rise up to about $0.06 by 2025, which is a significant increase from its current price.

Price Graph

Also Read: Complete Analysis of Storm | Live Storm (STORM) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.017495

0.019041

0.016330

0.018111

14,150,700

78,625,400

Mar 01, 2018

0.029066

0.031540

0.028867

0.030382

808,557

118,724,000

Feb 01, 2018

0.065882

0.066297

0.050713

0.051909

1,388,320

163,110,000

Jan 01, 2018

0.062706

0.074348

0.051035

0.067488

4,057,350

152,352,000

Dec 26, 2017

0.027852

0.03257

0.02098

0.028179

1,116,930

67,562,400

 

#5 - How is Storm different from other cryptocurrencies?

  1. Storm is one of the world’s first blockchain based reward systems for completion of microtasks such as answering questions on surveys or trying out new products.
  2. The introduction of Gamification, that is, the addition of game-like elements, is what majorly distinguishes STORM from other platforms.
  3. Game-mechanics have been integrated into ‘non-gaming’ contexts such as websites, for attracting user participation.
  4. Storm encourages player involvement by providing them with incentives, that is, Bolts, for reaching certain ‘ranks’ during their journey involving task completion.
  5. User attraction and engagement is hence fueled by the inclusion of player journeys and gamified scenarios, wherein they are motivated to complete certain tasks that are designed by Storm Makers and are rewarded for the same.

 

#6 - Should you invest in Storm?

Storm puts forth a unique marketplace based on microtasks and Smart contracts. Even when you are watching a movie, out on a coffee break, or working, if you have a few minutes to spare, solving a quick quiz can fill your digital wallets with tokens! It doesn’t get any better than that!


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