The digital market is growing rapidly with the words ‘blockchain’ and ‘cryptocurrency’ at the center of it. There are many platforms, coins and decentralized apps that are working innovatively to bring us new ways of doing things.
For example, VibeHub is a VR platform that looks to change the way how we use and perceive VR as not just a source of entertainment but also a source for education and human interaction.
AdEx is the latest addition to this market as it looks to take the advertisement industry by storm. Let’s know everything about this cryptocurrency and its
What is AdEx?
- Advertisement -
AdEx is a blockchain-based marketplace for the advertisement industry. It aims to provide a solution to the multiple problems currently faced by the advertisement industry such as fraud and piracy etc. It’s a decentralized application, therefore, removing the need for centralized authority like Google or Facebook. The platform will also allow advertisers and publishers to connect and work together without the need for a middle person.
AdEx looks to “change the landscape” of the current advertising industry as it looks to help create a secure and transparent platform that reduces costs for both publishers and advertisers offering benefits for both. Online advertisements are very important in today’s world and this platform can make things a lot easier and better for everyone.
The unique feature of AdEx comes in its customizable user profile. Normally, all users get to see advertisements online, the ads get views but it may not help much if the user isn’t interested.
With AdEx, users can choose which ads they would like to see on their profile, thus making sure whatever they see would likely be what they want to see/ are looking for. This helps the advertisers as well as they receive a higher return on their investments making it a win-win situation.
Users will provide information such as personal preferences, consumer behavior, shopping habits and purchase preferences. All this information will be used to make sure the user gets the ad they’d most likely be interested in.
It also has some nifty features:
How does it work?
Moving more into the technical side of AdEx, the network has a few layers. The first layer is an Ad exchange which is made using Ethereum smart contracts with options for a quicker layer to come on top of it. The exchange is made in such a way to ensure it helps publishers, advertisers, and end users. This eliminates the need for multiple exchanges, SSPs and DSPs, the inaccuracy and technical details that are associated with the process.
At the top of the exchange, AdEx is creating several D’APPs for several of its portals such as the advertiser portal, publisher portal and the end user profile. D’APPs are applications that are connected to the Ethereum blockchain and interact with it and they usually come with an easy-to-use interface. All the apps will be easily accessible via a browser. Anyone can run their own instance of the app too if they would like, that’s the benefit of using blockchain technology.
The AdEx Cryptocurrency
The medium for purchasing or selling advertisements space and time slots will be the platform’s own cryptocurrency AdEx Coin (ADX). Currently being valued at $1.92 with a market cap of $115 million, the token sale started in June 2017 in which people used Ethereum to buy ADX. It was received well as almost all of the ADX was sold out pretty quickly with donations of over 40,000 Ethereum pouring in.
Advertisers can bid for different things such as subscriptions, clicks or conversions using ADX tokens. As soon as a big is accepted by a publisher, the token gets frozen until the publisher provides proof that the target is completed. Once this process is complete, the transfer of funds takes place. The developers aim to keep inflation on the token at a minimum in order to keep a healthy and usable network.
Is AdEx worth investing in?
Although AdEx is built on Ethereum smart contracts, it will also run on the NEO ecosystem. This makes AdEx the first platform to use NEO. What makes AdEx so great is that it’ll use both NEO and ERC20 and users will be able to seamlessly convert their tokens. An ‘oracle’ smart contract will make the conversions possible.
The inclusion of both NEO and Ethereum is a great step as it finally makes use of NEO’s features and gets to showcase them to the world. NEO is considered to be the future of smart contracts, also known as the “Ethereum Killer“. NEO has many advantages over Ethereum however, it’s still quite new so many people may not be familiar with it. Therefore, it’s a great idea to keep both networks as it gives users an option to select whichever one they’re more comfortable with.
Moreover, AdEx has a strong and committed team working behind the scenes. The team comprises of some experts in the field and the company has a few solid partnerships as well. It’s partnering with the likes of Bitmain, Stremio, Wings, and Fintech blockchain group. These partnerships are helping the project develop at a much faster pace than other blockchain projects. It looks to be a great long-term investment.
How to buy?
As with many cryptocurrencies, you can’t purchase ADX with regular/fiat currency. You’ll need to trade other currency in order to purchase ADX. The currency recently got listed on Binance, one of the best exchanges out there. Coinbase is also one of the best and most reliable exchanges out there for purchasing more popular currencies. For this guide, we’ll be using Ethereum, Binance, and Coinbase.
- Make sure you have an Ethereum Wallet. Click here to create one at MyEtherWallet.
- Go to Coinbase and sign up and fill in all the relevant details (the more details you give the more secure your account remains).
- Click Buy/Sell on the top menu and then select ‘Ethereum’. Now click on the Buy button.
- Confirm purchase to finish buying Ethereum.
- Now open Binance and register if you don’t have an account.
- Complete security setup.
- Select ‘Funds’ and click on ‘Deposits/Withdrawals’.
- Type Ethereum in the search box and it will list a few wallets for Ethereum.
- Click on deposit, you’ll get a long address, copy and keep it somewhere as this will be used later.
- Return to Coinbase, select ‘Accounts’ from the top menu and find your Ethereum wallet. Click ‘Send’.
- In the recipient box, paste the address you got earlier and click continue.
- After 20-60 mins, Ethereum will show on your Binance balance.
- Head over to the Ethereum-ADX market in Binance or just click here.
- ‘Limit order’ lets you choose the price at which you want to buy. ‘Market order’ buys at the best price available. For simplicity’s sake, let’s choose the Market order option for now.
- Click on ‘Buy ADX’, and then specify the amount and wait for your order to complete.
- You can now view your ADX tokens in your funds on Binance.
- Congratulations! You now own ADX.