StormX (cryptocurrency)

StormX is an advertising technology and micro-task company integrated with blockchain technology. Users can earn rewards and compensations in STORM tokens, which can be monetized by the users.

StormX is an app and a Chrome browser extension which allows you to shop online at your favourite retailers (like you usually would) and earn cashback. But there’s a twist - the cashback comes in crypto! We call it - Crypto Cashback.

Simon Yu and Calvin Hsieh founded StormX in 2014 in Seattle, Washington.

Currently, at the time of writing this post StormX is available in over 180 countries, and has over 1000+ online retailers for you all to choose from. From Nike, through eBay to Expedia - we’ve got it all! So you can shop as you usually would and earn some crypto along the way! Perfect for that impromptu birthday gift, or planning your next getaway.

The StormX platform appeared as a result of the re-rendering of BitMaker, the creators remained the same, the goals and objectives have not changed. This platform is a platform where customers and contractors interact with each other, while the commission is several times less than on regular freelance platforms.

StormX solves the following problems:

allows customers to select the most qualified contractor to fulfill their order;

the commission is reduced. Current competitors (the same Takrabbit, Fiverr, Upwork) keep up to 40% of the order value as commissions;

increase the speed of transactions. Users will not need to wait several days for the administration to approve the payment;

the customer is guaranteed to receive a qualified performer. The system works in such a way that the performer will see only those tasks that correspond to his qualifications.

For completing the tasks of Storm Maker (customer), the performer receives a reward in the form of internal currency - bolts. He can use them:

for exchange for SMART tokens and subsequent withdrawal to your wallet;

you can spend them inside the system and use bolts to increase your skill level for a while. If the contractor spends money in this way, then more orders become available to him for a while, but only for a while.

The skill of the performer also grows with the fulfillment of orders, so active users of StormX will still gain access to more complex orders over time, so there is no need to pay for this.

This is a serious competitor to the classic sites for freelancers. This can be judged by statistics (available in the White Paper and on the project website):

the monthly number of active users of the platform exceeds 250,000. The authors report that most of the new customers are attracted through invitations from existing users. That is, StormX really satisfies the needs of freelancers;

work in progress in more than 187 countries;

The app is downloaded over a million times a month.

As such, there is no roadmap on the project website, so you will have to focus on the development plans from the White Paper:

in the future, they plan to allow users of the project to create so-called "Stormtasks". These contracts will be as flexible as possible to record the terms of contracts between Storm Makers (customers) and Storm Players (players or performers). These will be ordinary smart contracts based on Ethereum, they will be processed on top of the Ethereum blockchain;

we plan to introduce another category of microtasks through the Storm Shop. Manufacturers can thus get feedback from the audience and collect information about the product, get real reviews;

Another category of microtasks is Storm Gigs.

The StormX platform is already working, the development plans listed above will only complement the basic functionality of the platform.

STORM are ERC20 tokens, that is, they can be stored on Ethereum wallets. They are used in the system:

customers. To be able to place an order on StormX. A certain amount in tokens is paid for placing an order;

performers. In STORM coins, they receive a reward for completed tasks. More precisely, the reward is issued in such payment units as bolt, it is used only within the framework of the platform itself. If necessary, they can be converted into SMART tokens and withdrawn to your wallet or converted into fiat currency.

Given the dynamics of changes in the value of this cryptocurrency in recent years, you can make a profit through short-term speculation. Another use case is long-term investment in it, the project looks viable, so this option also has the right to life.

The total number of STORM tokens cannot exceed 10 billion. Mining in the usual sense of the word is impossible.