What Makes Parami Different From Existing Protocols?
Advertising has taken a different turn as blockchain dapps attempt to demystify one of the oldest industries in the world. Many of these protocols have tried to disrupt such a rigid industry. However, their attempts have only succeeded in reinventing the wheel.
What the advertising space needs isn’t the invention of the failing wheel, but the injection of new ideas that are beholden to users. That’s the problem with the previous attempts of start-ups — they all focused on doing the same thing differently.
How Parami Protocol Differs From Existing Protocols
The bane of the advertising industry has been the focus on profit without any thought towards the users.
Dapps did try to do things differently by bringing users into the picture. Yet, most were focused on exploiting users, monetizing user data without their knowledge. It’s such an age-old practice, yet dapps have failed to change the old ways.
Parami’s solution to the mess is refreshing, so it’s no surprise the protocol is considered by many as a breath of fresh air.
Parami tackles the challenges that have made advertising stick out like a badly bruised thumb. The Protocol, consisting of several layers, creates an ecosystem where users get rewarded for their contribution while remaining in control of their data.
The Parami Layered Approach
Creating an ecosystem that’s bustling with users and advertisers means all parties must be winners. Parami achieves this through its multilayered framework.
The layers include:
A DID Layer
A fruitful coexistence of users and advertisers won’t happen if the protocol can’t put a number on the parties involved.
It’s like how a country organizes a census to get an approximate number of residents so they can gauge the amenities required.
The DID layer works in the same way for the Parami protocol. It consists of decentralized identifiers that pull the social profile of users and march them with their blockchain wallets.
Of course, a DID can’t work on web 2.0 applications as they aren’t built for that. However, Parami, relying on its PDID and DID aggregators, verifies users using their web 2.0 social profiles.
On the DID layer, these identities are continuously updated in a decentralized environment — there’s no central entity that has access to all that data
Here, users and advertisers interact with the protocol, making the incentivizing of user activity a reality. It’s on the AD layer that Parami ensures advertisers are put in their place, keeping the data of users safe. The protocol makes this happen by requiring advertisers to complete the blind signature.
Users get to exert control over their data through the AD layer. The PCAP is the document that does the work. Due to the homomorphic encryption of the data in the document, advertisers can only utilize the data not view them, preventing the exploitation of users for their data.
Incentivizing of user activities also takes place in the AD layer. Parami uses the PCAP and ZKS algorithm to ensure users are properly incentivized for their contributions.
The Application Layer
Ad verification takes place in this layer. Parami looks after the interest of its users — another attribute that makes the Protocol different from the rest.
Not all ads are ideal for users. The world has grown increasingly sensitive, so ads need to be curated. On Parami’s application layer, a decentralized oracle handles the verification of these ads. The oracle sources data from the internet, ensuring users are protected regardless of the ads served them.
No matter the criteria, Parami Protocol stands out like a sheep among wolves. And no, the user-focused platform isn’t naive but dedicated to putting the advertising industry in its place — right in the palm of users.
These are places where you can learn a lot about Parami, and talk to Parami communities