Adbank FAQ: Tech & Token Sale Questions Answered
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Why did you choose Ethereum to build your platform upon?
Ethereum is well established, very stable and won’t be hacked. We felt this was the best option because of the infrequent settlement required by our solution.
Can Ethereum’s speed keep up with your plans to scale in the future?
Triggering a smart contract for every ad displayed would overload the entire Ethereum network. To solve this, we bundle transactions at a frequency that allows the system to work effectively and efficiently within Ethereum.
Why do you feel that blockchain was the best solution for what you’re trying to build?
Give us a tough question already! Online advertising suffers from three massive problems: fraud, a lack of transparency and ad tech middlemen taking more than their fair share.
Solving fraud is costly for the middlemen and therefore unprofitable. In short, the current online ad ecosystem profits on control rather than trust. Blockchain allows us to flip this upside down while removing the need for any intermediary.
Advertisers will use adbank because they know they can trust the platform. How? We are open source and fully auditable at anytime through the blockchain.
What are you doing that is unique from other blockchain-based ad platforms, such as AdEx or BAT?
adbank is the first to have patent pending anti-fraud AI technology based on the blockchain. A major point of differentiation is we are also heavily focused on creating a programmatic and real time bidding experience that takes the best components of non-blockchain based ad platforms that advertisers and publishers already know and love.
To compare, AdEx is focused on building a system for bulk ad buys where advertisers get a position on a specific publisher’s site for a set period of time. This represents a much smaller portion of the market than programmatic and real time bidding.
Another popular adtech product built on the blockchain is BAT (Basic Attention Token). They are focused on changing user behaviour by converting consumers to their browser. Our approach is directed at creating a better solution for advertisers and publishers. Success for us would mean consumers never knew anything had changed in their advertising experience.
Our platform will also allow existing ad networks/ad tech to adopt the adbank blockchain solution and realize the benefits of the blockchain. What 0X did in building the platform to allow relayers/exchanges to be built on their platform, we are doing the same for ad networks.
Our business plan of acquiring and converting existing ad networks to drive up the adoption and usage of the tokens is also a unique strategy that will result in an increasing demand for ADB tokens.
Can advertisers purchase ads with USD or fiat currencies?
We realize that there is still some progress that needs to be made in the world before advertisers are ready to pay for ads exclusively in cryptocurrency. Until that day comes we will have an option for advertisers to purchase ADB tokens instantly with a credit card inside the Adbank platform.
How does your technology work?
Jeez, maybe buy us a drink first. See our whitepaper for a detailed breakdown of how the tech works.
Are there plans for adbank to build its own blockchain?
There are no plans for that right now.
Token Sale Questions
Why are you choosing to launch with 1 billion tokens?
Low supply tokens are what the cool kids like these days but there’s a good reason why a billion tokens makes sense for a blockchain based ad platform. The biggest reason is that this denomination will be optimal for advertisers to help prevent them from overpaying for ads as the token value rises.
Each token will have 18 decimal precision which gives us an appropriate amount of liquidity, wide distribution and acceptance of the token.
Wouldn’t mining your token allow for better scalability in the future with the massive plans you have for adbank?
There’s few things that make us nerdgasm like a massive rack of mining rigs but tokens are better for the ad economy and ultimately support the goals of advertisers and publishers.
Why do you need to operate the network on a separate token?
The ADB token will play an integral role in building a dedicated advertising economy. First it is used to access the platform and purchase ads but most importantly it is required for the anti-fraud AI to function. The reason a token is optimal is because it allows the AI to minimize the noise for transactions that are not in the ad universe and focus on learning the transactions that are.
Is your coin proof of stake or proof of work?
No. ADB is a token, not a coin. Mined coins come from their own blockchain while tokens cannot be mined as they live on an existing blockchain, which in our case is Ethereum.
What is the name of your token?
What will the funding be spent on?
The majority of funds raised will be spent on development costs and acquiring existing digital ad networks to convert to Adbank’s technology. This will put Adbank at the forefront of blockchain based advertising solutions in a short time frame.
Are team member’s tokens locked up? If so, how long?
Yes. Each team member’s tokens are locked for a total of 3 years with 6 month cliffs.
Do I need to have an account/wallet set up prior to participating in the token sale?
Yes. MyEtherWallet or a wallet compatible with ERC20 tokens will work.
What currencies will be accepted for the token sale?
Ethereum (ETH) is the only accepted currency. Get that fiat outta here. We’re looking at you, Jamie Dimon.
What is the underlying value of the ADB token and why would I want to hold one?
Due to the high volume of ads shown everyday, liquidity of the ADB token should exponentially increase as adoption grows. We will use capital generated from the ICO to acquire existing ad networks which should drive up demand for the adbank token (ADB).
Are there any prohibitions or restrictions in contributing to the crowdsale i.e a sanctions list?
Citizens of the following countries cannot participate in the crowdsale: Afghanistan, Belarus, Belize, Canada, China, Central African Republic, Cote d’Ivoire, Cuba, Indonesia, Iran, Iraq. North Korea, South Korea, Kurdistan, Lebanon, Liberia, Libya, Mali, Palestine, Singapore, Sudan, Syria, Taiwan, Ukraine, United States, Venezuela, Yemen.
If I have questions how do I contact you?