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AdsCash Coin: Ethereum Smart Contract based Cryptocurrency for AdWorld

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AdsCash is a multifunctional, next-generation cryptocurrency and trading
platform developed on Ethereum blockchain, using cutting edge smart contract
technology. AdsCash is a decentralized peer-to- peer cryptocurrency with a
primary focus on transparency , compliance and security. AdsCash will become the
first stable digital currency exclusively designed and marketed towards the
advertising industry to allow owners of the currency to pay for product and
services with zero chargebacks and freedom from dealing traditional financial
institutions.

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AdsCash Coin: Ethereum Smart Contract based Cryptocurrency for AdWorld

  1. 1. AdsCash​ Coin: Ethereum Smart Contract based Cryptocurrency for AdWorld Version 1.1 February 01, 2017
  2. 2. 1. Abstract AdsCash is a multifunctional, next-generation cryptocurrency and trading platform developed on Ethereum blockchain, using cutting edge smart contract technology. ​AdsCash is a ​decentralized ​peer-to- peer cryptocurrency with a primary focus on transparency , compliance and security. ​AdsCash will become the first stable digital currency exclusively designed and marketed towards the advertising industry to allow owners of the currency to pay for product and services with zero chargebacks and freedom from dealing traditional financial institutions. AdsCash coin is a Ethereum ledger based digital currency using smart contracts shielded with strong privacy guarantees a convenient payment system offering up-to-date, cryptographically-secure and user-friendly. Using the smart contract features allows the parties to make lawful agreements written in the code form executed automatically once the conditions are met. We are exploring the blockchain method as a transparent, persistent and immutable record of all intermediaries in a transaction. This will enable greater understanding of which intermediaries have what data (pricing, transaction history, etc) and could increase transparency in the digital advertising supply chain. Our aim is to make ​Adscash coin as a substitute payment method for the online Advertising world what Bitcoin is now for the finance world.
  3. 3. 2. Introduction The emergence of new technologies is changing landscape both domestically and globally for the advertising industry. New media, new ideas, new challenges, new cultural opportunities are swirling around the industry and impacting the way it does business.Around the world, advertisers spend $592.43 billion in 2015, according to new figures from eMarketer, online advertising stood at an estimate at 194.6 billion U.S. dollars in 2016. This figure is forecast to constantly increase in the coming years, reaching a total of 335 billion U.S. dollars by 2020. Webmasters or publishers are always scratching their heads to share a slice of the advertising market. Image courtesy-​www.Statista.com
  4. 4. Image Courtesy-http://www.pwc.com/ Processing and receiving micro-payments remains a critical issue for content creators these days. Traditional payment methods, such as Paypal, bank transfers, and credit cards, are subject to ​high transaction fees. In the end, the recipient will receive far less money than originally intended. This is where ​AdsCash coin could play a big role in the payment system, as virtual currency payments are ​fast and subject to a ​minimal fee. AdsCash coin is minted on Ethereum blockchain implementing smart contracts. Ethereum is a public decentralized blockchain platform to perform more advanced for coding and processing smart contracts.A smart contract is a computer programme that can automatically execute the terms of a contract of a multiparty agreement. Using Smart contracts ,it will help advertisers to exchange ​AdsCash coins, assets ,shares, or anything of value in a transparent, conflict-free way, while avoiding the services of a middleman.​AdsCash coin can be and is actively being used to transfer value.Smart contract give the edge to both parties to write a code which executes automatically when conditions are met. In Advertising industry by using smart contract triggered by blockchain transactions ,​Adscash Coins will be released only to the other party( advertising company) when its starts delivering results to the customer or consumer.So money will be transferred to the company when smart contract release money only if
  5. 5. conditions are fulfilled and some result is shown and payments are validated by the network of nodes/miners and logged onto the Ethereum blockchain, just like the Bitcoin blockchain.With a multi-signature feature, two or more parties are required to approve a transaction before funds can be released or some other aspect of the contract can move forward. So the future looks bright for those who view ​AdsCash (digital currency) as the new transmitter of value; as the way to mobilise an economy without interference from middlemen who add no value; and without the heavy burden of irrelevant legislation.​AdsCash can be used by merchants and users to simplify payments , record business process and address security issues. AdsCash has the potential to become as the advertising coin for Ad world, what bitcoin has become is to the finance world. The goal of AdsCash is to become replacement for online advertising payment system. AdsCash is a coin that will help companies and organisations that deals with internet marketing, email marketing, search engine marketing (SEM), social media marketing, many types of display advertising (including web banner advertising), and mobile advertising. It will be used by advertising companies,traffic providers,cryptocurrency exchanges, common people who wants to deal with cryptocurrencies, investors and anyone who is dealing or connected with advertising world.
  6. 6. 3. Consumer Advantages: The major advantage of ​AdsCash coin is its large existing user-base and community that supports it. ​AdsCash members are already trading amongst themselves using the currency, creating a readymade economy. Furthermore, the AdsCash Foundation’s mission is to educate the untapped audience of the Ad business community and drive uptake of digital currency. The following benefits will be availed by using AdsCash Cryptocurrency. 3.1 Autonomy – Customer will make the agreement with the advertiser using smart contract; there’s no need to rely on a broker, lawyer or other intermediaries to confirm. Incidentally, this also knocks out the danger of manipulation by a third party, since execution is managed automatically by the network, rather than by one or more.So paying in ​AdsCash coin with the advertising company can give you the leverage to dictate your terms. 3.2 Secure – Using smart contracts, consumer’s money will be released to the advertising company only when they starts delivering results ,so there is no chance of any loss.So with AdsCash Coin, it will be a thing of past when some illegimate organization ditch the customers by using unfair practises and methods.Secondly, Proof of Work (POS) model reduces the risk of ‘Selfish Miner flaw’ and ‘51% attacks’. Transactions in any ​AdsCash currency have to be approved and verified by the peer-to-peer network. This community approval means everyone has a stake in the currency,so it is in the community’s interest to ensure security. 3.3 Privacy - Payments with ​AdsCash coin can be made and finalised without any personal information being tied to any transactions; and due to this enhanced privacy of personal information,there is greater protection against identity theft. Due to the way the ethereum blockchain works, the identity of the user is not important. This means it is secure and kept hidden at all times unless someone chooses to reveal it. Because all the transactions and information are highly encrypted, even extreme computational power would require hundred of years to
  7. 7. crack it.Using smart contract consumer can authorize a withdrawal asynchronously over the blockchain one at a time and then have the transaction finalized automatically once enough people make their authorizations. 3.4 Trust – Customer documents are encrypted on a shared ledger for Adscash , it is ethereum blockchain. There’s no way that someone can say they lost it.The individuals are anonymous but the contract is the public ledger. Automated contracts are not only faster and cheaper but also avoid the errors that come from manually filling out heaps of forms. 3.5 Transparency ​- Using the blockchain technology, all finalised transactions are available for everyone in the network to see,however all personal information is hidden,i.e. you can tell when a coin was spent, but not by whom. While a public address may be visible, personal information is not tied to it, giving it the transparency of a public ledger whilst at the same time maintaining personal Information security.Using smart contracts in AdsCash will make it transparent for both parties to review terms and conditions .​Ethereum blockchain can serve as the data layer for a fully decentralized reputation system - and potentially ultimately a fully decentralized marketplace. 3.6 Control ​- Accounts that hold traditional currency can be requisitioned or frozen completely by a host of authorities, often through no fault of the consumer. Since digital currencies exist outside the traditional regulatory frameworks that allow this to happen, it is very rare for a holder to be rendered unable to access their coins, unless illegal activity is proven to have taken place.AdsCash is a secure cryptocurrency for business transactions for all parties dealing with AdWorld. 3.7 Value - There are no third party transferring agents (like a bank) who want their share. The cost of sending ​AdsCash coin is practically zero compared to the bank transfer costs most people are used to.So dealing with fiat currency will incur more money in terms of bank fees , transaction fee etc but with AdsCash currency you will save these costs.
  8. 8. As every coin is accounted for in your ledger,merchants cannot charge extra hidden fees without being noticed. They must communicate fees to the consumer before adding charges. 4. International Trading Using credit cards or bank accounts for international transactions can be problematic; since they are linked to the legal tender of a specific government, exchange rates, interest rates, and country-to-country transaction fees. This adds levels of bureaucracy that have associated costs. Trading across currency lines forces people to pay taxes at both ends, as well as any additional costs from using wire transfers or services like Western Union and exchange fees. Digital currency like ​AdsCash by passes this confusion, dismantling barriers between markets digital currencies are not bound by the rules or status of any one government's currency, so international transactions tend to go a lot more quickly and smoothly when they are used. They bring competition to the remittance and payment markets.
  9. 9. 5. Merchant Advantages: Like any other advertising media, online advertising frequently involves both a publisher, who integrates advertisements into its online content, and an advertiser, who provides the advertisements to be displayed on the publisher's content. So transactions between the parties can be done in a quick and secure manner using Adscash cryptocurrency based on ethereum smart contract features. Advertisers who display their ads in Google , facebook or any third party website can do transactions using AdsCash coin in the near future especially created for the advertising world. Using AdsCash cryptocurrency which works on ethereum blockchain ,smart contract will be able to monitor, check performance and enforcement of contractual promises without human involvement. Like other types of automation, contract automation can lower the costs of operating a business and make mistakes less likely to happen. Another potential benefit is enabling parties to more efficiently structure their relationships. For example, automatic verification of a contractor’s work could allow the contractor to be paid more quickly and prevent unnecessary delays. 5.1 Trade clearing and settlement -​Merchants trading with AdsCash ,it will bring trade clearing and settlement very easy. Using smart contracts it will manage approvals between parties,calculate trade settlement amount and transfer funds automatically. 5.2 Security - ​Any of the features above apply to merchants as well as consumers. Digital currency transactions, such as ​AdsCash coin, are ​irreversible, do not carry personal information and are secure, therefore merchants are better protected from potential losses that occur from fraud.Merchants are able to do business where crime rates and fraud rates may be high and credit or debit cards may not be accepted. Digital currency like ​AdsCash coins makes transaction fraud harder due to the public ledger (blockchain) and the peer network encourages cooperation against fraudsters.Using smart contracts also add security as all terms and
  10. 10. conditions are prewritten and there is no chance that the merchant will loose any penny.As transactions are verified quickly within 6 minutes,so it does not create any delay in the smooth running of business. The AdsCash uses state of the art encryption which provides unparalleled network security. The AdsCash is powered by ethereum blockchain technology. No brokers, no banks, no fractional reserve, near-zero fees, immediate, and secure transactions.You can use AdsCash coin with no fees, no chargebacks and instant transaction. 5.3 Incentivized data storage. Imagine an online advertising campaign where people who clicked on an advertisement would be given the virtual coins.Using smart contract small amounts of money might be distributed without friction and company can make loyal customers. 6. How does it work? Ethereum is widely considered the most ambitious and complex of protocols in the blockchain space. Currently Ethereum uses a proof of work system for validation,This method of validation requires for ​AdsCash miners to solve the block problem provided they meet the ​168150937.5 ​quota set by the AdsCash Foundation. A mathematical computer-based process called ​mining generates AdsCash coins. The mining itself is a very complex mathematical problem, which is solved by a computer executing difficult number-crunching tasks.The difficulty of the mining increases over time making it harder to obtain the coins. This acts as a deflationary brake on the currency, therefore creating stability in the price.Using a method of what’s known as weak subjectivity consensus the nodes validate the network and are paid out a percentage of newly created AdsCash in return for mining the currency.
  11. 11. 7. AdsCash Economy The total number of ​AdsCash coin is finite.There are only ​168150937.5 coins ​AdsCash coins in the network that will be mined over the next ​3​ years. This gives leverage,robustness and long-term sustainability to ​AdsCash coin as a digital currency.This is the opposite of a conventional fiat currency which decreases in value each time a Government prints more. ​AdsCash coin was designed by experts using the latest technology and techniques in cryptocurrency and blockchain. ​AdsCash coin is at the cutting edge in digital currency, designed for use by the world’s Ad world as well as private individuals. Adscash Foundation is a Non Profit entity for maintaining and improving the AdsCash protocol . Name of the Coin= ADSCASH Symbol= ADS Estimated Total Adscash coin= 168150937.5 AdsCash Foundation= 3 million coins premined. Number of years in which Adscash will be mined=3 Years Time period in which reward for mining become half= 0.25 years Time in which new block is mined or created= 12 seconds. Smallest unit of Coin= 2 places of decimals. Algorithm for Hashing=​ Dagger-Hashimoto Algorithm= Proof Of Work(PoW)
  12. 12. 8. Summary AdsCash is another new cryptocurrency that uses Ethereum blockchain using smart contract technologies readily use for advertising world.Users can control the terms and condition using the smart contract to fulfill their goals.​AdsCash offers web publishers new ways to monetise content through frictionless micropayments .They are instantly settled and can be executed at high frequency. Imagine a couple of payments are transferred per second by a single user. This enables completely new ways of monetising web content and digital goods in general.It will be a win-win situation for both consumer and merchant.
  13. 13. 9. Glossary ASIC (Application-Specific Integrated Circuit) An ASIC is a microchip designed for a special application, such as a particular kind of transmission protocol or a hand-held computer.You might contrast it with general integrated circuits, such as the microprocessor and the random access memory chips in your PC.ASICs are used in a wide-range of applications,including auto emission control, environmental monitoring, and personal digital assistants(PDAs). An ASIC can be pre-manufactured for a special application or it can be custom manufactured (typically using components from a "building block" library of components) for a particular customer application. Fiat Currency Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. GPU (Graphics Processing Unit) A silicon chip specifically designed for the complex mathematical calculations needed to render millions of polygons in modern computer game graphics. They are also well suited to the cryptographic calculations needed in cryptocurrency mining. Block Reward The reward given to a miner which has successfully hashed a transaction block. Hash A hash algorithm turns an arbitrarily-large amount of data into a fixed-length hash. The same hash will always result from the same data, but modifying the data by
  14. 14. even one bit will completely change the hash. Like all computer data, hashes are large numbers, and are usually written as hexadecimal. CPU (Central Processing Unit) The CPU is the part of a computer system that is commonly referred to as the ‘brains’ of a computer. The CPU is also known as the processor or microprocessor. The CPU is responsible for executing a sequence of stored instructions called a program. Hashrate The number of hashes that can be performed by a cryptocurrency miner in a given period of time (usually a second) Mining Mining is a metaphor to describe the process where someone has a computer and they use the hardware storage space of that computer to support the processing power needed to maintain a digital currency ledger. In other words, if I were to pay you a sum of ​AdsCash coin, that transaction needs to be recorded and verified. This needs computer hardware storage space and processing power; when someone participates and shares their computer, this is called mining. POW (Proof of Work) A system that ties mining capability to computational power. Blocks must be hashed,which is in itself an easy computational process, but an additional variable is added to the hashing process to make it more difficult. When a block is successfully hashed, the hashing must have taken some time and computational effort. Thus, a hashed block is considered proof of work. RAM (Random Access Memory) The main memory in a computer, smartphone or tablet. RAM is the temporary workspace where instructions are executed and data are processed. What makes
  15. 15. RAM "random access" is its capability of reading and writing any single byte. This "byte addressability" differs from storage devices such as hard disks and flash memory chips, which read and write sectors containing multiple bytes. In addition, RAM is used as a temporary space for the software, while storage is permanent until deleted by the user. P2P (Peer to Peer) Decentralized interactions that happen between at least two parties in a highly interconnected network. An alternative system to a 'hub-and-spoke' arrangement, in which all participants in a transaction deal with each other through a single mediation point. POS (Proof of Stake) An alternative to proof of work, in which your existing stake in a currency (the amount of that currency that you hold) is used to calculate the amount of that currency that you can mine. Selfish Miner Flaw The result of a miner keeping their block discoveries private to their own pool, and cautiously revealing them to the rest of the honest miners, thus forcing the honest miners to waste their resources on blocks that are not part of the blockchain.

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