The Multiple Functions Of Parami Layers
Selling is the economic oxygen. We live on sales. Whether we are selling a product, a service, or a skill set. Advertising is the lifeblood of selling. Without advertising, sales will dwindle. How would anyone know you are selling anything if you’re not advertising? Your choice of advertising can rely on the affordable word-of-mouth.
Or you can leverage paid advertising techniques like influencer marketing, pay-per-click marketing and others to sell your product. The supposed ‘best’ advertising practices are parasitic, repetitive, and obsolete. Times have changed. But the advertising industry didn’t get the memo. Changes need to be made. Else the advertising industry plays catch-up when it should be leading.
Parami Protocol Paves Way For This Menace
The old ways of advertising have been found wanting. Parami Protocol was created as a means to fashion out a new, effective method of advertising. Being a blockchain project, Parami relies on the distributed ledger’s many attributes. A transparent, decentralized, and immutable protocol is the result. Like a company with multiple departments, Parami consists of three layers.
1. The DID layer can be considered the base layer; it’s where user data is paired with the identity of the person. And there’s no go-between to worry about. We’re all fully aware of how middlemen have dealt the advertising industry heavy blows. So it’s a great relief to see Parami put these leeches out of business.
Parami views the DID layer as a virtual registry where user identity gets managed in a decentralized manner. Through the DID layer, your social profile meets the blockchain profile. This helps in the incentivizing process, which we will look at later. For many, identity management/verification often demands that infamous ‘Know Your Customer’ (KYC) process. Of course, many aren’t keen on such. This is another area where DID stands out.
Parami’s DID permits users to confirm the accuracy of their Identity without the KYC strain.
Another layer powering the Parami protocol is the:
2. Ad privacy layer. It’s in this layer that users exert control on their data, how the ads get served, and more. The ad privacy layer relies on the PCAP paper, which contains all the demands of the user. It’s like the constitution that advertisers are expected to adhere to.
The Parami protocol is structured such that advertisers abide by the dictates of the PCAP paper. Ad networks have to do this without viewing the data. It might be unbelievable from afar. But when you have a setup based on smart contracts and blockchain technology, you gain clarity on just possible it is.
Parami has an application layer. While others constitute the engine room of the protocol.
3. The application layer is where the trade actually happens.
Just using your internet service lets the application layer do its part. Data gets harvested using a decentralized oracle. If the ad specifications match, then the relevant party gets incentivized. Of course, ad networks don’t access user data, so there’s no breach to be feared.
Parami Governance
The Parami protocol is a typical blockchain project. Token holders make protocol-changing decisions. AD3 token is the native token of the Parami protocol. Advertisers need to have AD3 to create an advertising campaign. Also, the protocol charges operation fees in its native token. Holders aren’t only constrained to governance with their AD3 token. You can use the token for liquidity mining and NFT creations.
Conclusion
Parami can help the advertising industry take its rightful position at the summit of the world economy. Parami prides itself on a decentralized advertising arrangement. Thanks to the protocol, the advertising industry can reap the gains of blockchain technology through Parami. What’s even more amazing is the support for all parties involved in the advertising space.
Keep in touch
These are places where you can learn a lot about Parami, and talk to Parami communities
Medium: https://paramiprotocol.medium.com
Github: https://github.com/parami-protocol
Twitter: https://twitter.com/paramiprotocol
Telegram: https://t.me/ParamiProtocolEN
Official: https://parami.io/
Discord: https://discord.gg/bxFuekgvYJ