Today we’re not looking at a new project but instead going back to review the progress of a token that I had covered back in May. That project is called Zap and their goal is to create a market or app store for people to use oracles. With this article today I’m going to be looking at what the team has been developing of the past 4 or so months and what the team will have in store for the remainder of 2018.
Zap is a project that is hoping to bring oracles into the consumer conscious by offering their services to anyone with a smartphone. These oracles are aimed to provide useful information as well as act as a speculative tool for those who wish to discover new and exciting data feeds. In short, Zap is an app store but the applications themselves are making use of real time data gathered through oracles and have investment and market mechanics thanks to Zap and crypto.
For a full rundown on Zap please see my original article from May.
The team over at Zap has been hard at work and making tons of changes since I last checked out the project back in May. One of the most apparent changes between now and then has been the redesign of the Zap website. It looks pretty hot to say the least with a new layout for the information and a sleek color scheme. While not being a necessarily impactful change from a project advancement point of view it’s definitely one that I appreciate and believe will help attract new people into the Zap ecosystem. Moving along to their platform development though.
For the Zap project development has largely focused on three main areas, the Zap SDK which has been put out through a rolling release, Zap Android, and Zap Chrome with some other random releases sprinkled throughout the previous months. Let’s start out with the toppings.
The September update for the project saw the most of the other updates including new tool releases in the Zap node packet manager, a template for oracles, a CLI package, and integration of Zap into the mobile wallet Lumi which is available on both Android and iOS. Focusing on the oracle template, that release is to help developers quickly produce and monetize their own oracles and should lead to growth of the Zap ecosystem.
This update also brought with it some more news regarding Zap Android and Zap Chrome. The two applications are still in internal testing but the feature addition process has completed and the team is solely focusing on bug fixes.
Zap Chrome is a browser extension for well Google Chrome. Think of it as Metamask but with additional functionality specifically for Zap. As I’ve likened it to Metamask, the Chrome extension allows for the storage of ETH and Zap and has an interface for exchanging ETH and ZAP in app. The exchange rate is supplied by Zap’s price oracle which takes its data from Chagelly.
What makes the Zap Chrome extension unique is its ability to interface with Zap oracles. Zap describes the extension as the “command center for users’ bonded oracle and data provider portfolio” meaning that all of the oracles you’re using and providing for can be accessed from this extension. It’s your one stop shop for anything in the Zap project right on your browser.
Zap Android is the Android phone app for the Zap project. This application has similar features to the chrome extension with a larger emphasis on smart contract creation and management. The full feature list is as follows:
– Create an Ethereum account with a mnemonic phrase recovery seed
– Receive ether
– Send ether
– Create, edit and save smart contracts on device
– Use smart contract templates
– Compile smart contracts
– Deploy smart contracts
– Query smart contracts
– Transact with smart contracts
– Switch to different networks (Mainnet, Rinkeby, private, etc.)
I went ahead and bolded the ones that focus on smart contracts to emphasize that difference between the Android application and the Chrome extension. The power of the Android app comes from those smart contracting abilities which are at the core of Zap and oracle functionality and thanks to this app all of that will be available at your fingertips.
Lastly we have the Zap SDK, at the beginning of this section I had mentioned the Zap packet manager additions. Specifically that release was called Zapjs and was the first wave of tools to be released for that software development kit. This kit is on a rolling release and this wave is the first release of many more to come. Zap is clearly focused on giving developers the tools to create successful oracles and help grow the project. When people refer to projects silently working on building their platforms they’re referring to additions such as these.
Here is where Zap becomes even more fun. Zap is currently in the process of building functionality on the EOS platform. A core component for Zap is to be platform agnostic so the team is pursuing that goal by making Zap functional with the EOS platform. The updates from the previous months provide a couple of lines about what the team has been doing but the overall focus has largely been on the Android application, Chrome extension, and SDK. With those entering internal testing and the bug fixing phase I would imagine this facet of the project would be receiving more manpower and would be on the lookout from further announcements from Zap regarding that swap.
Furthermore, Zap stated in their monthly updates that the team would be releasing a new updated whitepaper with an updated roadmap in the future. Sadly that update has not been released yet as I would have very much liked to see their reworked roadmap that is accurate to what the team is working on right now. The roadmap available on their website has the Android app being released this month (September 2018). Based on what I’ve seen and spoken about in this article it seems as though the team is fairly on track from the 2017 roadmap version.
ZAP is currently trading at a price of $0.01 or 226 Sats or 0.00006819 ETH. Total supply for the token is 520 million and the circulating supply is at 127 million. The market cap for ZAP sits right at 1.8 million and the daily volume is abysmal at around $560.
Zap is available for trading on two exchanges Cryptopia and HitBTC. Cryptopia has the most volume and HitBTC offers the most trading pairs for the token. Cryptopia’s sole pairing is with BTC and has a daily volume of 80%. HitBTC offers a BTC, ETH, and USDT pairing for Zap with daily volumes of 12%, 6.5% and 0% respectively.
Cryptopia — https://www.cryptopia.co.nz/
HitBTC — https://hitbtc.com/
To learn more about the Zap project please see the following links.
Website — https://www.zap.org/
Twitter — https://twitter.com/zaporacles
Whitepaper — https://www.zap.org/whitepaper.pdf
Zap is still one of my long term holds and is a real sleeper in the crypto world. With this project I see a team building during this bear market and continuing to deliver functionality and tools for growth and is why I chose to do an article updating its progress. There are of course plenty of projects in this camp I just came across this thanks to some nudging from friends to give it another look.
Thank you for reading today’s article! This is my second article for this week and my last article will be out tomorrow covering PAL. As always follow me on here or on Twitter @thant1194 or on InvestFeed @thant11 in order to stay up to date on all my articles as I release them. I am not associated with Zap team and am a holder of their token. Thank you again for reading. I have to return some video tapes.
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