What is adToken (ADT) Crypto Beginner’s Guide
AdToken is a decentralized, blockchain-based platform… that was created to address the issue of fraud within the advertising industry. Although it cannot solve this problem directly, it does provide the industry with a viable platform where users can define which websites are fraudulent, and which ones are not. Annually, fraud costs the publishing and advertising industries $16 billion. Fraud on such a large scale is created by a lack of transparency in the advertising supply chain; adToken aims to change this by verifying that websites have real visitors.
The adToken Coin (ADT) is the cryptocurrency of the adChain project. The project is made up of a series of open protocols that are based on the Ethereum blockchain. The adChain Registry is particularly important to the advertising industry. It is adToken’s first protocol and is currently undergoing development. The Registry will contain a public whitelist of online publishing websites that have been voted upon and confirmed by adToken’s community.
The adChain Registry
The adChain Registry is a decentralized domain whitelist that has been launched as a collaboration between ConsenSys, MetaX, and the Data and Marketing Association. The Registry is a smart contract on the Ethereum blockchain that stores domain names that are accredited through votes as non-fraudulent. The presence of any domain indicates that adToken holders have recently viewed and assessed that domain, and have determined that it belongs to a legitimate publisher with a real human audience. AdToken holders not only can vote to bring in new publishers but also have the power to challenge proposals and expose publishers that are not legitimate.
The adToken Coin (ADT)
The adToken Coin is the official currency of the adChain project. Users who hold this coin are enabled to vote on publishers in the adChain registry. In 2017, ConsenSys and MetaX made the collective decision to pre-sell 10% of all future adToken coins, which have a hard cap at 1 billion, to fund development. The pre-sale was also used to identify specific participants who have an interest in helping sustain the adChain platform, and to see it transform the advertising tech industry. After this initial sale, ConsenSys and MetaX will continue to develop and release new advancements of the adChain Registry.
Users who hold adToken can participate in incentivized voting to determine whether applicants who want to join the adChain Registry are legitimate and reputable; these users are the ones who control a lot of power as to who belongs to the Registry, and who does not. Token holders can view the number of publishers applying for and reviewing their listings, and this keeps the registry clean of bot traffic. Holders also are incentivized to keep fraudulent applicants out of the registry, and can vote anonymously.
AdChain was implemented in 2017, and there are many plans for the future of the registry and the adToken coin. Besides the registry, the platform hopes to support several decentralized applications (DApps) that will provide functionality to the advertising industry and increase usability of the adToken platform. There are many opportunities for advertisers, publishers, and regular users to collaborate and prevent fraud within the industry; adChain is a platform that brings them all together and supports them in one place.