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The Crypto Industry Calls for Its Own App Store

date_range December 23, 2022
person Vanessa MagicSquare
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The crypto industry now faces a new challenge – being listed on the App Store. Apple is known for its strict rules, aka the ‘Apple Store Review Guidelines’, governing the app submission. The most recent updates and revisions were meant to elevate acceptance standards for all apps submitted to the store. However, it has waves of complaints and now developers are looking for alternatives.

The Current Apple-Crypto Dynamics

The crypto community is deeply disappointed by Apple’s decision. You may find all the updates on Apple’s Review Guidelines here.

Cointelegraph highlighted that Coinbase has been blocked by Apple from releasing its latest version of the Coinbase Wallet. To further proceed, the company has to adjust its app model for Apple to “collect 30% of the gas fee” through in-app purchases. The platform was thus required to disable NFT transactions.

“For anyone who understands how NFTs and blockchains work, this is clearly not possible,” said Coinbase Wallet. “Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried. This is akin to Apple trying to take a cut of fees for every email that gets sent over open Internet protocols.” – Coinbase claimed

Centralized app stores have one huge flaw. The company’s opinion is the only one that matters, and it can be wrong in many cases. Sure, each app store has its guidelines of what is appropriate and what isn’t allowed, but they’re often too vague to be useful. There is nothing stopping Apple from banning apps that compete with its own services. Censorship by app stores is a huge concern when companies like Microsoft and Google censor apps that compete with their own offerings, software and hardware.

While Apple is preparing to allow outside app stores in Europe, what the world needs is a truly decentralized app store to enable further transparency, security and seamless user experience.

The Reliable App Store For Crypto

By enabling a more open-source approach to app store development, crypto app stores will make it possible for more independent developers to find greater success.

Magic Square strives to build a leading app store for the crypto industry with its flagship product, Magic Store. Magic Store is a decentralized platform with an “App Store” concept, prioritizing users’ needs and experiences first. We want to help every developer, every crypto app to succeed and monetize their efforts through a system that is free from censorship and restrictions on ability to charge for the app, collect user data, or develop the products.

Magic Store is a user-centric App Store designed for the crypto industry, with its own community validation system. Each listed app on the Store is vetted and prioritized by the Magic Validators. It offers the community opportunities to be part of product development on a continuous basis.

Magic Store eclipsed a record of 192 verified apps listed. In the past 6 months, we hit a record of 27.1K sessions. Listing on the Magic Store is free now with premium access to Magic Boost, amplifying your marketing efforts to build an authentic user base. Find more listing details here.