DOOR Token is an ERC-20 token based on smart contracts on the Ethereum blockchain. The purpose of creating DOOR Token was to allow consumers to be rewarded every time their intention data is used by another party, such as an advertiser. The reward is paid in DOOR Token for the use of the data on a per-use basis.
Launched in 2015, Ethereum is an open-source, blockchain-based, decentralized software platform used for its own cryptocurrency, ether. It enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control, or interference from a third party.
A DOOR Token is solely used to license user Data on the DOOR network.
DOOR Tokens are used to purchase data on the Door App. If an advertiser wants to buy data that correlates to the products/services they sell, they use DOOR Tokens to license the data directly from the user in the network. For example, if a user's intention data, including clicks and searches in the DOOR+ app, alludes to the user's likelihood of buying furniture, then any furniture company would buy the data with DOOR Token in order to connect with the property owner and advertise their furniture to them.
DOOR Token can be purchased or swapped on Bitrue, Bitmart or Cointiger exchanges, or purchased directly on DOOR+ app or MyDoorWallet.com. Since DOOR Token is ERC-20 it can be exchanged on the Ethereum blockchain. See more details under BUYING AND SELLING section.
The price of user Data will be set in DOOR. The price will vary based on the type of data and the supply and demand of the data. Pricing of data is available in the Door App once you register on Doorcoin.com.