Categories: Ethereum

Varanida is Aiming to Improve the Experience of Web Users, Advertisers, and Publishers with the Blockchain

Click here to view original web page at coinjournal.net

The advertising industry is broken.

In today’s digital era the internet is a place where we gather information, connect with others, and share our knowledge. Advertising is also something that greatly impacts a person’s decision on a particular product or service.

Yet, while it’s an industry that powers the internet, advertising is also holding back its potential. This is down to the fact that users are being overwhelmed by bad ads, which is seeing a decrease in the amount of revenue generated for publishers.

Not only that, but there is also the issue of user data being collected from sites with hopes that it will deliver advertisements that appeal to users. Many, however, are unaware that their data is being collected. You only have to look at the Facebook-Cambridge Analytica data scandal, which saw personal identifiable information collected from 87 million Facebook users earlier this year, to see this.

But what if there was a solution that aims to bring web users, advertisers, and publishers together to deliver a better experience?

Varanida

, a digital ecosystem, is hoping to achieve this. Taking its name from Varanidae, which are a family of lizards (including the Komodo dragon and the crocodile
monitor) known for cleaning mangroves and fields, the platform is working at cleaning “the internet of intrusive and poorly designed advertising, while introducing a decentralized, transparent, and ethical ad network,” according to its white paper.

By using the Ethereum blockchain for its prototype, the goal is to benefit the three major stakeholders in the advertising marketplace: give users back their data and privacy, create better revenue opportunities for publishers, and a higher standard advertising model where advertisers can track each dollar spent on an advertising campaign.

Since releasing the prototype, Varanida says that it has seen more than 120,000 registered users download it, claiming it’s a real success for the blockchain project as it strikes a chord with its community.

And in a bid to continue its progress Varanida has launched an initial coin offering (ICO). The platform has a soft cap set at $8 million and hard cap marked at under $40 million. With the organisation’s proposed DAICO model, the hard cap will be set by token holders. However, if the milestones aren’t reached, additional funds won’t be raised. The platform will be releasing one billion VAD (Verified Ad) Tokens to fuel the first iteration of the Varanida Network before it goes live next year.

Round one of the ICO has already taken place and closed; however, round two will open Friday September 29th at 3 p.m. CEST and close Friday 5th October at midnight. Round three will be split into three sub-rounds: 3A, 3B, and 3C. According to a Medium post, Varanida have stated that if the milestones in round three are not reached, then the soft cap will become its hard cap as this will still be enough for the platform to scale. Refunds will also be given if each milestone is not reached.

The use of the proceeds will be split between research and development (30%), Varanida ecosystem (25%), business development (20%), communication (10%), post-token sale costs (5%), legal and compliance (5%), and hidden costs (5%).

According to the white paper, “Varanida users will earn VAD tokens each time
they block an ad from a centralized network. This will be done through a
multi-browser compatible extension that enables users to block ads running
on centralized ad networks.”

Not only that, but the platform won’t store users data; however, if users want to be rewarded with additional VAD tokens they can opt in to share their data with advertisers and publishers that they trust. If they chose to do so, Varanida state that it won’t sell this to third parties. Publishers will also be rewarded by earning up to twice as much for the ads that they serve. At present, traditional and centralised advertising networks take around 60% of the total budget in fees from publishers.

“For each ad they display, publishers will earn VAD tokens based on the auction
that takes place in Varanida’s Real Time Bidding platform. Publishers can also
be rewarded by users who like their content and want to ‘tip’ the team behind
that content,” the white paper notes.

Varanida has also acquired Secret Media, a media company, to help it launch the next phase of its product faster.

In today’s digital era the internet is a place where we gather information, connect with others, and share our knowledge. Advertising is also something that […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: decentral decentralized eth ether ethereum blockchain platform

Recent Posts

  • Bitcoin Business

Jimmy Nguyen talks Bitcoin SV and how it’s changing the commerce world

Jimmy Nguyen , the president of the Bitcoin Association, traveled recently to Colombia in order to spread the word on… Read More

1 hour ago
  • Bitcoin Business

Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering

Silk Road , a dark web drug market founded by Ross Ulbricht under the pseudonymous nickname “Dread Pirate Roberts” has… Read More

1 hour ago
  • Bitcoin Business

The first new decentralized fair payment system for masternodes

Overview of the new Decentralized Fair Payment System (dFPS) Masternodes are typically a node that can be ran on certain… Read More

1 hour ago
  • Bitcoin Business

Bitcoin Hyper Launches the World’s Fastest Bitcoin, a Cryptocurrency for Real World Use

SLIEMA, Malta, July 23, 2019 /PRNewswire/ -- Bitcoin Hyper ("BHY"), an innovative new cryptocurrency that provides consumers with the ability… Read More

1 hour ago
  • Bitcoin Business

Trader Predicts Ripple to Dump by 60% Against Bitcoin Before It Moons

Ripple (XRP/BTC) is down 66% YTD. An analyst on Twitter predicts that it will fall further before launching a massive… Read More

1 hour ago
  • Bitcoin Business

Pantera CEO: $42,000 Bitcoin Price By The End Of 2019 ‘A Good Shot’

A historical Bitcoin price chart on a logarithmic scale. In a recent episode of her Unchained podcast , Laura Shin… Read More

1 hour ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More