On August 15, 2017, the blockchain-based AdEx announced its partnership with China’s first open source blockchain, NEO (formerly AntShares). Since the announcement, values of the ad network’s native token, ADX, have more than quadrupled.
A Tale of Two Blockchains
Last week the ad network publicly released its AdEx Core, the base smart contract that will power the advertising network, on GitHub. Originally built on the Ethereum blockchain, AdEx Core will be ported over to the NEO blockchain in the wake of the new partnership.
Big news. @AdEx_Network are teaming up with $NEO to build the first DApp on the smart economy platform! https://t.co/571XoFXXV8
— NEO News (@NEOnewstoday) August 15, 2017
Although similar to the Ethereum blockchain in many respects, NEO offers several unique features and security measures that make it an ideal platform for the advertising network including:
- Support for multiple types of digital assets
- Decentralized commerce
- Digital certificates to place trust in the public chain and provide legal protection for all assets digitized through the NEO platform
- Support for multiple programming languages including C#, Javascript, Java, Python, Go, and others
- Cross-chain interoperability
NEO also closes several loopholes that have caused some Ethererum-based smart contracts to be vulnerable to hackers.
AdEx CEO and founder Ivo Gerogiev explains the impetus behind porting the AdEx core to the NEO ecosystem:
We see the huge potential of NEO and this is why we are aiming at becoming the first NEO-based DApp. […] We are excited about porting the AdEx core as we are convinced this will increase the efficiency of our advertising network.
NEO Council Secretary General Tony Tao also commented on the move:
We are looking forward to AdEx moving its core to the NEO ecosystem. We are positive that DApps will help us push the Smart Economy further, and AdEx is an excellent trailblazer for this.
AdEx is currently in the process of developing a prototype of its service. Originally scheduled for release as early as February 2018, the development team expects to have it finished a few months earlier, making AdEx the first DApp to be built on the NEO blockchain platform.
Partnership Announcement Sparks Price Jump
In the wake of AdEx’s announcement, the price of the network’s native token, ADX, has skyrocketed. Climbing from just $0.34 on August 15 to a high of $1.69 at the time of this writing, the price jump marks an increase of over 390 percent.
Similarly, NEO experienced a price spike as well, albeit significantly smaller than that of ADX. NEO’s value went from a low of $39.52 on August 15 to a high of $49.22 before settling back down to $42.46 at the time of this writing, marking a 7 percent net increase.
About AdEx
AdEx is a decentralized blockchain-based advertising network that relies on smart contracts to solve many of the problems plaguing traditional ad networks. Advertisers, publishers, and consumers alike will benefit from the numerous advantages that blockchain technology brings to the online advertising market, including data security, fraud protection, better audience targeting, and clear and accurate reporting.
About NEO
Formerly Antshares, NEO is China’s first open source blockchain. Dubbed “China’s Ethereum”, NEO enables developers to build DApps on its platform using advanced programming languages like C#, Python, Javascript, and others. Using a unique blockchain algorithm that improves upon Ethereum’s model, NEO supports decentralized commerce, digital certificates, and multiple types of digital assets.
Do you think that AdEx and NEO are a good mix? How will it improve the online advertising industry? Let us know in the comments below.
Images courtesy of NEO, AdEx, CoinMarketCap