Odin Token: Blockchain Browser For Decentralized Advertising?
Odin is a new startup company that intends to revolutionize the internet. Yeah, we’re sure you heard that one before. Is this time for real? Read our review to find out.
What Is Odin?
The internet exists for over two decades now and, along with prosperity, many problems have appeared online. One of these problems is that the advertisement market is very inefficient. The advertisers spend a lot of money and most of it is useless. Because only a handful of companies are monopolizing the whole market, it is easy to keep things as they are.
However, Odin intends to change that. Odin will be an ecological blockchain network that will be based on the advertisement industry and will unleash a new era for browsers in which they have more control over the ads that they actually want to see.
This way, people using the internet will receive the appropriate quantity of tokens because of how many ads they decide to actually see and the companies know that they are spending their money better. This will make your time online more useful.
Odin will also allow for ads that are targeted and more relevant to people using this system. As the ads will be more accurate, they will be even more worth it and reliable, which can make the market grow because more companies will see the benefits of investing in advertising in this so-called new era of the internet.
How Will Odin Work?
Odin uses an ecological blockchain network that uses smart contracts to work. It uses proof of contribution and proof of work (mining) technology combined with a consensus algorithm. The main idea of the company is that, by enabling the clients to trace better their ads and see how much they are spending on what results, they can create a better internet that also benefits the users.
The users will see ads anyway and ad blockers are sometimes not a good alternative, so the company is basically offering a way out for these people. They can see the ads and at least get something for it. The content of the new ads will be more targeted than before and more interesting for the user.
Nodes will be elected to run the Odin network and Bookkeeping Node will take care of paying people who watch the ads. There will be maintenance nodes and many other nodes, each group with its function in the ecosystem to be sure that things will always be working properly. They will make sure that the advertisement fees are paid automatically to the users via smart contracts.
The PoC and PoW algorithms will be important in this process as they will work together to incentivize the network to work. Pornographic or fraudulent advertisement will be banned from the platform, which will keep the platform clean and positive.
This way, the company intends to build a relationship of trust with its clients and to make low value advertising disappear being replaced by ads that have value for the company and the people instead. All ads will be paid with Odin Tokens, which means that the tokens will have intrinsic value.
The Odin Verdict
Odin already has a community in Asia and the company is ready to take its business to the next level. If the plans of the company are actually made true, then the internet will certainly be a nicer place without so many ads that you do not want to see and all of the involved in the ecosystem will certainly benefit from it. Will it succeed? That is harder to answer and only time will tell.