MadNetwork, a custom blockchain purpose-built for enterprise applications with early adoption in the advertising technology space, announced additions and revisions to its product roadmap with renewed focus on the rapidly evolving digital media landscape. The network is releasing a new whitepaper and a revised token economic model, and announced plans to port over from Ethereum to a proprietary Proof of Stake (PoS) sidechain built by the company.
“There are clear and prevalent issues within the ad tech space that demand the attention of innovators”
The digital media landscape is an ever-changing, data-intensive ecosystem valued well in the billions of dollars. However, digital media and the advertising technology that monetizes it is still in its infancy. With less than 60 years between the invention of the internet and today’s ad tech market, the digital world is rife with issues.
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Launched in 2018, MadNetwork envisioned a series of products and partnerships geared toward reshaping the relationships between consumers and advertisers. The network quickly rolled out related developer tools through MadHive, its sister organization, and forged a partnership with AdLedger, a nonprofit consortium working to build open technical standards for the application of blockchain and cryptography to media and advertising.
However, after further exploring the complicated demands of ad tech, the Mad Team decided there was an immediate need to create a purpose-built blockchain designed to help large companies in ad tech as well as in other industries build secure distributed applications. Consequently, MadNetwork plans to release a highly scalable sidechain to Ethereum, designed to authenticate and manage the identity of organizations, people, or assets in the digital world.
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