We wanted to eliminate the cost involved with publishing of an advertisement charged to a seller by third parties like - Google, Facebook Ads etc by a cost-effective platform coupled with a transparent system aimed at enhancing the user experience.
What it does
It provides a platform to sellers /advertisers to send their advertisement to a network of decentralized nodes which computes hash to verify the origin of these ads. It also binds Publishers (websites/ medium to publish ads) to come in contract with the network and share their website metadata information with the network. The network ranks the advertisements and offered to a publisher based on ranking algorithm that computes relevance score between information available from both the parties.
Cost-benefit: End users who visit the publish mediums can choose to click on a suitable and ultimately settle to buy the product from seller. This transaction rewards the publisher with a predefined percent of revenue collected by seller in this process. With each activity of an ad click or an ultimate purchase made thereafter, the ad-metric (no of clicks, no of purchase made) gets updated and shared with Seller to track their sales.
To validate the ad metric we have incorporated the intelligence in network to match these numbers aren't faked by Publisher thereby providing an unbiased and credible measure. On user front each user is able to trace the source of an advertisement before clicking it.
How we built it
Challenges we ran into
It was difficult to find the good resource to set up all the platform like web3, Rinkeby.
Accomplishments that we're proud of
We conceptualized an architecture to develop decentralized advertising platform replacing traditional costly systems with a partial transparency to make it more benefitting for all the users interacting with it and implement a proof-of-concept of our idea and deployed it in AWS. Much more to that, we enjoyed collaborating with different people and got an opportunity to learn a lot from all in the workshop.
What we learned
We developed understanding of smart contracts in an Ethereum based network using Solidity. Also, we integrated it with a web service to verify the contracts are functional and making appropriate API calls.
What's next for Decentralized advertising
Predicting the pricing of advertisement using techniques like user-item correlation or Collaborative Filtering.