Apollo (APL) has set out to accomplish the goal of being the most technologically advanced, feature-rich currency on the market. Apollo aims to create a coin that will integrate everything necessary to replace the current cryptocurrency options. Apollo originates from NXT, a proven currency, and they plan to build upon that solid base in hopes to become the first all-in-one cryptocurrency.
The Pr Director of Apollo, Steve McCullah, has been generous enough to tell us more about how this idea came to be and how Apollo is achieving to be the All-in-one crypto coin.
Thank you Steve for putting some time aside for this awesome interview. Our readers will be ecstatic to learn more about you and Apollo.
To start off, tell us about yourself – where are you from, what career were you doing prior to cryptocurrency, and what led you to start/join Apollo?
"Absolutely, I am originally from Springfield, Missouri but have also spent a great deal of time working on businesses in Texas. As far as career goes, I have been an entrepreneur for most of my adult life. Before taking part in Apollo I owned a software company and was part owner in another company that specializes in custom manufacturing, with focus on medical and military products specifically. During my time building these companies I had the pleasure of developing many complex products and enjoyed the challenges that came with both businesses. We have been fortunate to have been able to manufacture and develop for entities such as the U.S Navy, Homeland Security and many allied militaries.
Our biggest inspiration for Apollo came from the current privacy coin options on the market. Many members of our team have invested in cryptocurrency over the last 5 years and have always followed cryptocurrency closely. During this time we saw many holes in the currencies that were available, especially privacy currencies. The privacy crypto's that are out there are incredibly limited - for instance, most have no ability to send public transactions which is critical for mass adoption, and none of them have many additional features.
So we saw an opportunity to create something that would allow users to use a single currency for all their needs, instead of jumping from currency to currency to perform different tasks."
With such a big team, how many people make the Apollo team and how were they recruited? Getting enthusiasts to help the project move forward in the beginning is not an easy feat. In this field, people look at the team more than they are willing to admit.
"During our coin distribution and initial development we were over 200, including volunteers. Our team currently sits at 112 total; 44 core members, and 68 volunteers.
As far as how everyone started working with the project, many of our core members knew one another at the beginning, outside of that there are many different circumstances that brought in the remaining members of our team.
Many members came highly recommended by other team members. We have always sought to not only create a tight knit community within our social media groups but also a tight community within the team. So anytime we could bring in people recommended within the team we certainly did."
How would you explain Apollo in a non-technical way to someone who is just starting to understand cryptocurrency?
"Apollo is really comprised of three major goals, one is being the first currency commissioned with the purpose of providing all mainstream cryptocurrency features in one coin.
The second is providing a means to allow users to buy and sell goods, exchange currencies, send messages, share files and more, with unparalleled privacy.
The third is bringing cryptocurrency mainstream. We believe there are three elements that are needed to finally bring cryptocurrency mainstream and these are:
Speed - If a currency cannot settle within a similar time frame as commercial options, such as Visa, then it is not likely that it could ever be used in practical situations such as physical retail locations or vending machines.
Ease of use - The majority of the world accesses the internet via smart phones, not PCs. We aim to be one of the first cryptocurrencies to publish mobile apps that are secure and simple enough for mainstream users.
Public and Private Transactions - Currently nearly every privacy currency on the market provides an option for only a private transaction. This annihilates the ability for mass adoption because many commercial applications must have a public record. For this reason, we have become one of the first cryptocurrencies to provide the option of toggling between a public or private transaction with nothing more than the click of a button.
When we started this project we thought it may be a bit too ambitious to go for a truly all-in-one currency, but the more planned and charted out how we were going to get there the more we realized it is a goal that is not only possible but very attainable."
As the network grows, will transaction fees increase? Is there a plan for the future fee structure of Apollo?
"We have left this open, we have the ability to change this in the near future if needed. One of the reasons we chose a larger supply over a smaller supply is because we knew that once we got to the point that we will need to have a permanent fee we could rest assured that we were still going to have some of the absolute lowest fees in cryptocurrency. Right now, for instance, our transaction fee is only $.0016."
Speaking to one of the Apollo representative, I was concerned that it might inflate once it hit exchanges due to so many “Whales”. The representative replied, “Apollo does not have inflation”. Is that true? If so, how did Apollo solve the inflation dilemma?
"We don’t have inflation in terms of an increasing total supply like many currencies, this is because we are pre-mined. This means that there will never be another Apollo created, only destroyed.
Like any currency there are people that own more and people that own less, but the great news is that not only are there much fewer large wallets than in most cryptocurrencies, these wallets are also already included in the circulating supply. So no one person has the ability to raise the circulating supply.
The Apollo Foundation is the only entity which does, but it is tightly controlled and used only for the advancement of Apollo."
Are there any working prototypes for the public to try?
"Unfortunately the logistics of opening our testnet to the public would be difficult, but we do open it up for members of the media so they can demonstrate our 2 second block confirmation speed to the public."
Apollo has been confirmed on over five exchanges already and listed on three exchanges thus far. Are there any other exchanges that
Apollo has an eye on?
"We are actually confirmed to be listed in 7 exchanges at the moment and we hope to drastically expand this number. Even though we are a very new currency we have been approached by many exchanges.
A big attractant for most exchanges is community and many have noticed our large, active community."
Where do you see Apollo in five years and what is the road map to reach that goal?
"In five years we hope to be the top privacy currency, one of the top contenders in making cryptocurrency mainstream and a competitor to ETH in the ICO token market. This may seem ambitious but if you look at even our current comparisons it’s hard to see why anyone would use anything else.
In less than two years we are on track to boast a sustainable blockchain capable of transaction speeds of 2 seconds or less, every mainstream feature and 5 layers of privacy protecting a user’s IP address and transactions.
We believe that as time goes on, the crypto market will get narrowed down to a select few that can compete as a mainstream option and that everything else will slowly fade away."
Anything else that you would like to mention to the Altcoin Community?
"Only that they should stay tuned! We have many big things happening within the next few months!"
Cryptocurrency: Apollo Currency
Classification: Own Blockchain
Project status: Working product
Consensus algorithm: Proof of Stake/Proof of Work
Circulating supply: Roughly 15 Billion (According to their website)
Total supply: 21 Billion
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