BitAds Whitepaper

Decentralized Advertising on the Bittensor Network

Explore BitAds Whitepaper: Revolutionizing Online Advertising with Decentralization. Discover how BitAds leverages the Bittensor Network to offer cost-effective, high-quality advertising through a unique incentive mechanism for miners and validators.

Abstract

BitAds introduces a revolutionary approach to online advertising through a decentralized network built on Bittensor (Subnet 16). Aiming to disrupt the traditional advertising industry, BitAds offers a solution that significantly reduces costs for clients while incentivizing miners to promote and drive organic traffic to advertising campaigns. This whitepaper outlines the BitAds project, including its integration with the Bittensor network, the incentive mechanism for miners, the technology architecture, and the advantages it offers over existing advertising methods.

Introduction

The digital marketing and advertising market, valued at US$531 billion in 2022, is ripe for innovation. BitAds proposes a decentralized advertising network that leverages the Bittensor network to offer unparalleled advertising power at a fraction of current costs. This network enables validators to manage campaigns and miners to promote products or brands across various online platforms, thereby generating organic traffic.
FirstAds.ai
Validator A WebApp
Validator B WebApp
Validator C MobileApp
Validator 
API
Miner 
API
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Request for Campaign Stats of unique Miners URL
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Request for Campaign ID
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Unique Campaign ID
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Campaign Stats of unique Miner URL
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Unique Miner’s URL
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Request his unique URL for a specific Campaign ID
Validator
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Request for unique Miner URL for specific Campaigns IDs
Miner
Yuma
Consensus
Yuma
Consensus
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Miner’s Score
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Unique
Miner URL
Promote
his unique
URL
  • 1
    Request for Campaign ID
  • 2
    Unique Campaign ID
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    Request for unique Miner URL for specific Campaigns IDs
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    Request his unique URL for a specific Campaign ID
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    Unique Miner’s URL
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    Unique Miner URL
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    Request for Campaign Stats of unique
    Miners URL
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    Campaign Stats of unique Miner URL
  • 9
    Miner’s Score

The BitAds Ecosystem

  • Validators, Miners, and BitAds Core:
  • Validators create and manage advertising campaigns using the BitAds Core platform, which provides tools for creating landing pages and tracking campaign performance. Miners generate unique links for campaigns to promote across the internet. They are rewarded with TAO tokens for driving organic traffic to these links. BitAds Core acts as the central platform for campaign management, traffic analysis, and miner validation.

  • Incentive Mechanism:
  • Miners are incentivized with TAO tokens, not based on the client's payment offer, but on the organic traffic they attract. This system ensures cost-effective advertising for clients while rewarding miners substantially for their efforts.

Integration with Bittensor

BitAds leverages Bittensor’s decentralized network to distribute advertising tasks among miners. Initially, BitAds will focus on promoting the Bittensor project itself, demonstrating the network's marketing capabilities and incentivizing participation. Taking into consideration the potential emission of the subnet, this will potentially serve as the most powerful marketing engine for the Bittensor project. By harnessing the collaborative efforts of the network's participants, BitAds aims to significantly enhance the visibility and adoption of Bittensor, establishing a robust foundation for the future growth of both BitAds and Bittensor.

Technology and Architecture

The BitAds network utilizes a decentralized architecture to distribute advertising tasks. The core platform includes an API for validators to manage campaigns and for miners to generate unique promotional links. Traffic data collected by BitAds is used by the Validators to evaluate the effectiveness of each miner's promotion efforts, with a focus on penalizing artificial traffic and rewarding genuine engagement.

Advantages of BitAds

Decentralization: BitAds emphasizes optimal decentralization by ensuring a broad distribution of miners and validators.

Cost-Effectiveness: By operating on low-cost systems requirements and incentivizing miners with TAO tokens, BitAds offers a highly economical advertising solution for both parties, clients and promoters.

Quality Traffic: The incentive mechanism encourages miners to drive high-quality organic traffic to their links.

Miners Competition: Miners are motivated to outperform each other in attracting the best traffic to clients' websites, in order to generate more rewards. This competition enhances the effectiveness of advertising campaigns, ensuring that clients will receive optimal visibility and engagement.

Income Sources for Validators

Validators can monetize their participation in BitAds through various avenues, including promoting their own products, engaging in affiliate marketing, developing applications using the BitAds API, and offering API access to others.

Conclusion

BitAds represents a significant leap forward in the evolution of online advertising. By combining the power of decentralized networks with an innovative incentive mechanism, BitAds offers a solution that benefits advertisers, publishers, and the broader internet community. As we move forward, BitAds aims to expand its offerings, further reducing advertising costs and enhancing the quality of online promotions.