PARAMI PROTOCOL:THE NEXT GENERATION DIGITAL ADVERTISING PLATFORM
Even though advertisements on social media platforms, facebook, twitter, Telegram and more is a way for consumer to discover brands and also a way to make different brands put out their products, Ads are now very ubiquitous and can be very annoying when the user is not interested in the Ads content, some of these users end up blocking these Ads.
How do we solve this?
How do we get ads contents to targeted audience?
How do we establish a user-centric advertising system?
Parami Protocol is the solution.
Parami protocol is based on the substrate blockchain development framework. Parami propose an AD3.0 paradigm powered by blockchain for web3.0. why AD3? AD3.0 is democratic and governed by all token holders where users are incentivized based on their attention, time and relevance paid. Unlike AD1.0/AD2.0 where users have no right over their data and identity, In AD3.0, Users have absolute sovereignty over their own identity and data.
HOW PARAMI WORKS
Parami protocol provides decentralized identity (DID) management where users register and update, and do verification process. Parami decentralized identity will allow users to verify by just building graphs and running anti-sybil analysis without the need to do any KYC. AD privacy layer then attach personal crypto advertising preference which is homomorphic encrypted to each user ID, Advertisers use blind signature to prove they confirmed user`s interaction with advert and then through the zero knowledge proof algorithm, users get their rewards based on the attention paid and relevance score. The application layer is thee decentralized oracle that collect data frim internet for AD verification. Dapp will verify the amount a user deserves and update everytime it sends reward to each users using the PCAP data of each users. PCAP is an application programming interface (API) for capturing network traffic.
Parami protocol use cases
- Ads are shown to users through instant messaging (IM) apps. Some of this IM apps are facebook, twitter, Instagram and lots more.
- Through the ID hash provided by the platform, advertisers were able to get each user`s decentralized identity.
- The SDK (software development kit) which is the collection of software development tool that facilitate the creation of applications request AD contents from decentralized storage.
- In order to evaluate the users action, the SDK track the user`s AD action
- After evaluating user`s actions, the DID will get tagged and scored with encrypted data
- OCW (oracle cluster), the cross-platform cluster software required to run the real application clusters for oracle database requests PCAP from decentralized storage.
- The Ad runtime calculates and evaluate the reward for every users.
- The oracle cluster(OCW) updates PCAP.
As Advertisement is a very crucial part of a brand, Parami protocol make these ads very effective by ensuring that these ads reach a targeted audience who have interest and at the same time rewarding the user for their time. Paraami protocol ensures a win-win situation between producers and consumers.
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