In the world of web 3, content creation will be greater than ever, so in a decentralized environment we will need a decentralized version of Google Adsense for creators to monetize their traffic and content. Google’s Adsense is very discriminatory and you can get denied for the vaguest of reasons. There in lies the need for a decentralized ad-network.
Using the Ethereum network can provide several benefits when creating a decentralized ad network, as it is a popular blockchain platform that supports the development of decentralized applications. Here are some ways that the Ethereum network can be leveraged for creating a decentralized ad network:
Smart Contracts For Instant Ad Placement And Ad Publishing:
Ethereum allows for the creation of smart contracts, which are self-executing contracts that can facilitate transactions between parties without the need for intermediaries. Smart contracts can be used to automate the buying and selling of ad inventory in a decentralized ad network. You as a creator can put ad-code on your decentralized website and instantly start displaying ads and monetizing.
Decentralized Applications For Placing Specific Ads On Your Platform:
Ethereum also supports the development of decentralized applications (dApps), which can be used to create a user-friendly interface for interacting with a decentralized ad network. dApps can be accessed using a web browser or mobile app, making it easy for users to participate in the network. There will be a need for a dApp that can help content creators filter out which kinds of ads they want on their decentralized platforms.
Interoperability:
Ethereum’s open-source nature and compatibility with other blockchain platforms can facilitate interoperability between different decentralized ad networks. This can help to increase the reach and effectiveness of the network, as advertisers and publishers can access a larger pool of inventory.
Tokenization:
Ethereum’s native token, Ether (ETH), can be used as a means of payment within a decentralized ad network. Additionally, other tokens can be created on the Ethereum network to represent ad inventory or user data, providing a more efficient means of exchange within the network.
Community Governance:
Ethereum allows for the creation of decentralized autonomous organizations (DAOs), which can be used to govern a decentralized ad network. DAOs enable community members to have a say in the decision-making process and can help to ensure that the network is operated in a fair and transparent manner.
By leveraging the Ethereum network, a decentralized ad network can offer several benefits, such as increased transparency, reduced costs, and improved targeting capabilities. Additionally, the Ethereum network can facilitate collaboration and innovation within the advertising ecosystem, leading to more diverse and effective advertising solutions.