Categories: Ethereum

Ethereum-Based Ad Platform Announces 9M Transactions

Click here to view original web page at cryptobriefing.com

A new project is planning to reinvent advertising via blockchain technology. No, not that project. AdEx Network, an AdTech startup behind an Ethereum-based digital ads network, has successfully processed over 9 million transactions since it launched two months ago.

AdEx uses the blockchain to store information about advertisements, providing transparency for all parties. However, the scaling limitations have posed a significant challenge to serving millions of impressions at any given moment. The project successfully resolved this issue by developing an off-chain solution based on payment channels.

The startup built its own payment channels technology, called OUTPACE. While similar to the Lightning Network and Plasma, OUTPACE introduces two key characteristics that make it a better fit for its intended use.

OUTPACE is strictly unidirectional, eliminating some of the complexity of other payment channels such as Lightning’s watchtowers. The number of channels required is also reduced, thanks to the ability to pay multiple parties from a single channel.

The scaling solution thus allows the company to significantly save on transaction costs and scale up its network for serving the needs of ad publishers.

After a successful crowdfunding campaign, AdEx was able to develop its open-source protocol for decentralized advertising. An invite-only version of its platform was released in June 2019, which initially onboarded 11 large publishers and several advertisers.

During a testing run lasting less than two months, AdEx processed over 9 million impressions, each settled on Ethereum, with more than 10,000 DAI locked on-chain for the payment channels. Following this success, the AdTech startup will seek to attract several hundred publishers and advertisers by the end of the year.

AdEx Network’s mission is to address the inefficiencies of online advertising, including fraud, lack of transparency, and privacy issues.

It was born in 2017 as a decentralized advertisement exchange, evolving through the years into a fully-fledged platform for digital ads. The protocol covers all interactions between publishers, advertisers and users, verifying ad delivery and simplifying the trading of ad placements.

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

Recent Posts

Watford FC to brand Bitcoin logo on the jersey

The initiative is being carried out as a part of a brand partnership with sports betting site Sportsbet.io. Sportsbet.io's marketing… Read More

5 hours ago

Latest Bitcoin price and analysis (BTC to USD)

At the time of writing, Bitcoin (BTC) is trading at just above $10,300 after gaining about 1% since last week.BTC… Read More

5 hours ago

Johnstone: How To Defeat The Empire

Authored by Caitlin Johnstone via CaitlinJohnstone.com, One of the biggest and most consistent challenges of my young career so far… Read More

5 hours ago

Today’s Bitcoin Drop Driven by Massive Volume Influx

Bitcoin has been facing a bout of sideways trading for the past several days, but today’s drop to below $10,200… Read More

5 hours ago

L.A. to Choose Blockchain Pilot Project at CIS Conference

With a growing interest in blockchain solutions for government, the city of Los Angeles has partnered with organizers of a… Read More

5 hours ago

Bitcoin’s heading to a new all-time high along with the S&P 500, says Fundstrat’s Tom Lee

watch nowTalk about a bitcoin bull case.The digital currency is headed to new record highs, says Tom Lee, co-founder, managing… Read More

5 hours 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