In today’s day and age where the majority of people in developed countries are on the internet, online advertising is a huge market and is worth billions and billions of dollars. It is an effective way for businesses and companies to find new customers, expand reach, show off products and make some money.
At its simplest, online advertising is when a company will pay to have their ad show up on a website (to get it more exposure and get noticed or clicked on by people). In return for posting the ad on their site, the website will make a small amount of money every time that ad is viewed, seen or clicked on.
Online advertising has been hugely popular and successful for many websites out there to make revenue and the market shows no signs of slowing down with people spending more and more time on the internet than ever before. However, everything isn’t always perfect when it comes to the world online advertising, and there are some issues that have arisen. There are a number of different problems with online advertising as it is today, for everyone who involved in the process (whether it is the websites, the visitors or the advertisers themselves). These include ad-blockers, the fact ads can be annoying and bulky and many others.
One company and platform is trying to be the solution to these problems, and that company is Oyster. Oyster Protocol is trying to be the future of website monetization and distributed storage, and is built on the blockchain. The way Oyster works is revolutionary as they simply put one line of code on your website, and it provides revenue in the same way a big, bulky and annoying ad would. It also provides safe and secure storage or files on a decentralized blockchain.
Basically, the line of code allows a small portion of the site visitor/users CPU and GPU to let user’s files be stored on a decentralized ledger. As a result, the website owner gets indirectly paid by the storage users (for providing them storage) and the website visitors get to use the website without seeing ads (as a portion of their GPU/CPU is powering the storage).
The ICO for Oyster is took place late last year and investing in the company and participating in the ICO earned you Oyster Pearl (PRL), which is the official token used within the Oyster ecosystem. PRL is used by different users in different ways. Those who want to store files on Oyster will used PRL to do so, and the website owners will get paid in Oyster Pearl when people visit their website. So as you can see, it works similar to traditional online marketing in some way, but is obviously quite different in others.
There are many great features that are inherent in the Oyster platform, which help it be one of the most interesting ventures we have seen in a while. One great feature is just how great the storage is, as it has no threat of data loss and files are stored in a safe manner. The storage is also completely anonymous and no personal information or passwords are ever used. This prevents anyone (even Oyster) from knowing what your files are or why you want to store them.
The Oyster Protocol is completely open-sourced and developed in a community driven model and has no single point of failure. Anyone can develop extensions without needing permission from anyone. Also, we can’t forget just how much it revolutionizes the world on online advertising for everyone involved in the process.
For a lofty idea and system like this to be successful, it requires a great team of educated and experienced individuals. The team at Oyster is led by CEO and Chief Architect Bruno Block. He has been developing software for over a decade and his experience lies in machine learning, artificial intelligence, cyber security and more. The team is rounded out by several talented individuals who have experience in a wide range of different industries including communication, finance, marketing, security, development, programming, HR, engineering and more.
The team prides themselves and their company on a set of values, which includes providing accessible decentralization, being accessible anywhere and having protocol-centric development. The team is working hard every day to help make Oyster the future or the internet and how web advertising works.
In conclusion, Oyster hopes to be the revolutionary force in the mission to make web advertising simpler and more streamlined. They are taking a unique stance on how online advertising works and are trying to bring ad-blockers and advertisers together, not face them off against one another. There is a lot of hidden revenue potential on the internet, and Oyster is trying to unlock it.