SWANSEA, U.K., Oct. 16, 2019 /PRNewswire/ -- AdsDax, an advertising platform powered by distributed ledger technology (DLT), has passed a major milestone, executing over 10 million transactions on Hedera Hashgraph since the network opened access to its mainnet beta a month ago.
AdsDax has been using Hedera Hashgraph to track and verify advertising events for large enterprises, as well as executing real-time payments based on the data received. Since opening access of the Hedera mainnet, AdsDax has recorded over 103 million ad events, resulting in over 10 million hbar payments.
Ian Mullins, founder and CEO of AdsDax, said, "This is a major milestone for both AdsDax and Hedera. Reaching over 10 million real payments is a massive success, but to do it so quickly showcases not only the potential of the hashgraph technology but also validates the speed, scalability and robustness of the AdsDax platform to reinvent the ad industry. Hedera Hashgraph has proven it has the scale, speed and reliability to handle the live advert tracking data that we have been handling in recent campaigns."
Working with Hedera, AdsDax has been tracking millions of live events from programmatic advertising in real time, allowing advertisers and other stakeholders to see engagement and use this information to make informed decisions and manage budget more efficiently.
"AdsDax is revolutionizing the advertising industry by not only providing highly interactive, engaging platforms, but also by rewarding customers for engaging with ads, and by giving advertisers unprecedented visibility into the success of their campaigns," said Jordan Fried, SVP of Business Development for Hedera. "We are thrilled that they have reached this milestone on the Hedera network, and look forward to working with them as they continue to grow their business."
AdsDax aims to create a decentralized ecosystem for advertising that uses DLT to remove costly intermediaries with a vision to not only put consumers in control of their data, but also to reward them for their engagement with advertising. AdsDax aims to reward and incentivise millions of consumers and create a new direct relationship between advertisers and consumers through payments and value creation.
Ian Mullins concluded, "We are very happy with the success of our Hedera Hashgraph implementation and the scale, speed and stability our platform is enjoying. Based on stats from blockchain.com, AdsDax has been executing more daily transactions on Hedera Hashgraph than there are on the entire Bitcoin network each day, and we are continuing to grow rapidly."
The AdsDax vision for a new ecosystem is a unified platform that facilitates all aspects of digital advert creation, campaign delivery, traffic and content verification and optimisation with transparent reporting and costs. The AdsDax platform allows all participants to benefit from the money that is currently wasted through middlemen and instead rewards consumers and incentivises participants to create a more engaging and relevant ad experiences.
The founding team started as Yamgo, a mobile-oriented content provider which monetised video on mobile. At Yamgo, we saw the problems content owners had monetising their content. We evolved into AdSpruce and worked to improve the user experience and solve the problems of monetisation for content owners, enabling them to monetise video and display inventory. Through AdSpruce, we developed an end-to-end video advertising platform working with 25+ of the world's top 100 Ad Age brands.
About Hedera Hashgraph
Hedera Hashgraph is a decentralized public ledger where anyone can carve out a piece of cyberspace to transact, play, and socialize in a secure, trusted environment. Developers can build secure, fair, blazing-fast decentralized applications on top of the Hedera platform. Dr. Leemon Baird, Hedera Hashgraph Co-Founder and Chief Scientist, and Mance Harmon, Co-founder and CEO of Hedera, invented and developed the groundbreaking hashgraph technology after working at the United States Air Force Academy and as founders of Trio Security, BlueWave Security, and Swirlds, Inc.
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SOURCE Hedera Hashgraph