DOOR Price (DOOR)

Advertisers also gain benefit from using the platform, since this is a more affordable alternative to most advertising solutions controlled by centralized monopolies. By using the Door platform, companies can reduce expenditures on advertising and increase their competitiveness in the market. The blockchain removes intermediaries which present the unnecessary link in the chain and enables both parties to connect directly with each other. In this way, the Door platform delivers advertising services at a competitive price directly to consumers who get access to quality services and products.

The Door platform uses a decentralized model and a scalable payment system to ensure its effective work. In April 2022, the company released the DOOR+ App available both for iOS and Android-based devices. The project employs a simple business model that is used on numerous marketplaces and exchanges. The users of the platform (Sellers) offer their products (Data) to advertisers (Buyers) looking for new customers on the marketplace.

The unique architecture of the platform enables off-chain transactions as well. This feature was introduced to tackle the problem of high fees inherent to the Ethereum network. The system offers a solution for microtransactions that are managed off-chain. This applies, for example, to such operations as rewards for registration when funds are transferred to the Holding Pool from the Rewards Pool. At this, they are tracked off-chain for their further uploading on-chain in a batch on a weekly basis. Off-chain transactions are also used by advertisers when they pay end-users for watching their ads. Tracking is performed in the Holding account through the Door wallet during transactions when funds are transferred from advertisers to users.

By maintaining data licensing transactions off-chain, the platform can improve the traffic quality and offer new possibilities for advertisers who are entitled to dispute their payments for data. The platform cares about effective data exchange and refunds advertisers in case of a valid dispute. In this way, the Door Wallet works like an exchange that manages transactions between parties. DOOR is held on the end-users’ accounts until its withdrawal for further operations.

The DOOR token

DOOR was created to enable users to get rewards in DOOR each time their data is used by advertisers. When advertisers look for the data correlating with their services or products, they spend the DOOR tokens to license data right on the platform. At the same time, the whole procedure is fully automatic thanks to the underlying smart contract.

When small amounts of DOOR tokens are sent from one Door Wallet to another, the microtransactions of this kind are stored off-chain. The size of deals between users and advertisers can vary from 0.1 USD to 50 USD. This mechanism was developed to conduct transactions in batches and economize on the Ethereum gas fees. Otherwise, the cost of a single transaction could be much higher than the amount transferred in DOOR itself. There is no necessity to complete every transaction immediately since tokens presented on-chain are stored in specific accounts, and it is easy to track tokens in bulk transfers on-chain.

Token holders can always employ the Door Wallet to withdraw funds to their Metamask accounts for further use on-chain. The DOOR tokens are stored on Door Wallets that belong to users and employ the Holding Account used on-chain. In addition, it is possible to use a bank card to buy DOOR tokens. At the time of writing, the token is available for the purchase on CoinTiger, Bitrue, and Bitmart Exchanges.

The security of the Door platform

With Door, the transparency of transactions is a matter of special concern. It is ensured by the Ethereum-based decentralized system. At this, a specific type of architecture was chosen to make the system fully transparent. On-chain transactions performed on the platform refer to such operations as a purchase of DOOR through Uniswap or other exchanges, withdrawal of this token from the DOOR wallet, and internal transfers within the service itself. These include a holding account, a rewards account, a liquidity pool account, an operations account, and a team account.

The platform founders ensure the security of data by keeping it on the blockchain via a specific smart contract. The personal data is protected by the code, thus users can be sure that their info never appears on any public sources. The data is not available to any third party until advertisers pay to license this data. In 2022, Door ordered a smart contract audit that was successfully implemented by OpenZeppelin.

The Door team

The co-founder of the platform is David Daly who is an entrepreneur, a software architect, and a marketer. He established Doorcoin together with his friend and business partner Rich Swier, an advisor, investor, and experienced entrepreneur with numerous exits to Fortune 500 companies. Together, they also established HuB, a creative space where entrepreneurs and artists come together to collaborate and develop ideas. Daly is also an architect and co-founder of the NIL coin, a deflationary ERC-20 token.