The Technology Behind The Moonbeam Network – Here’s What You Should Know
Moonbeam Network was founded on blockchain technology that allows for the monetization of networks in the digital age. The company’s platform will allow users to be compensated for what they do online- not just through advertising but with micro-payments as well.
But, let’s see what makes Moonbeam Network possible and break it down further.
How It Works
The Moonbeam Network is aimed at disrupting the digital advertising industry by harnessing the power of blockchain technology to provide economic incentives for all participants in the ad supply chain. It uses an exchange protocol built on EOS.IO, BitShares Bitmessage, and Steem blockchain technologies to address problems ranging from ad fraud to user privacy.
The protocol creates an environment where advertisers can buy media at scale in real-time based on which ad impressions are actually seen. This approach eliminates middlemen and ensures that participants get what they pay for, namely highly-targeted, measurable media.
Additionally, the platform allows users to monetize their data by sharing it with businesses in exchange for tokens. Users would be able to share their data in real-time and conveniently receive payments that will be automatically converted into Moonbeam tokens.
Moonbeam Tokens (MBX)
Moonbeam tokens (MBX) will be the official currency of the Moonbeam Network. They will be used to purchase ad impressions and user data, as well as for settlement fees when buying or selling Moonbeam tokens in exchanges. However, there are other tokens, such as Glimmer (GLM), which are tradable on exchanges. These are created by the Moonbeam Network to provide a medium of exchange for buying and selling user data on the blockchain. You can check on the current Moonbeam GLMR APY to be able to determine the value of both Ether and Glimmer tokens. The value depends on the number of tokens in circulation, which is 10 billion, and the current price of MBX and GLM. 10 billion might seem like a lot, but considering that there are over 15 million Ethereum wallets and that the average wallet has 4 tokens in it, this figure doesn’t look that big.
You will also need to know the supply, price, and volume to determine the value of tokens in these 3 indicators: ICO, Trading & Investing; Market Cap; Coin Price.
The Importance of Moonbeam Collators
These are holders of MBX tokens who can take part in the governance of the Moonbeam Network. They have voting rights on various issues, including which projects to work on next, what price to set for Glimmer tokens when buying or selling them, and any proposed changes to the Moonbeam Network.
Collators are also able to earn rewards for validating transactions and providing bandwidth, computation power, and storage space. These tokens are paid out weekly based on the number of tokens held.
Advertisers will purchase MBX tokens to place advertisements that users can then view in exchange for Glimmer tokens. These advertisers will also bid on how much they are willing to pay for specific ad spots, so if your value is higher than anyone else’s bid, you’ll be the one who gets your ad in front of their eyes. This means that you’ll get paid more for your data, and advertisers will win over consumers by reaching them with targeted ads that they’re actually interested in!
Also, Moonbeam Network will allow companies to collaborate. For example, a travel website could work with airlines on targeted advertising campaigns to boost bookings, all while ensuring user privacy and trust.
Users can opt-in to share their data with Moonbeam’s machine learning algorithms in exchange for Glimmer tokens are free to set their own price. The value of this data is determined by the market, not by a centralized authority. This eliminates the need for intermediaries and middlemen that don’t play fair.
Moonbeam users can also choose whether or not they want to receive ads from advertisers with whom they’ve had prior transactions to maintain better control over their privacy.
Moonbeam is an open-source network which means that software updates and changes to the protocol will be available for everyone to view and make suggestions. By decentralizing communication networks, it has the potential to usher in a new era where user privacy and control over their data are prioritized rather than ignored.
This means that the currency is only as valuable as those who use it – your currency won’t be worth anything if you’re not using it! With this in mind, the Moonbeam Network has made provision for incentivizing user participation. By using Glimmer tokens, users can buy and sell user data on the blockchain in a transparent environment where the value of their data is determined by them, not by advertisers or anyone else. This makes it a truly democratic platform that empowers its users.
Moonbeam Network Benefits
The Moonbeam Network provides many benefits to advertisers, publishers, users, investors, token holders, developers, and everyone else involved in the ad supply chain.
- Decentralized ad network – Moonbeam’s decentralized nature means no third party once you’ve joined, so you can be sure that your data is kept safe and will not be used without your permission.
- Open-source software – The code behind the network is publicly available for all to see, which increases trust – this also means that developers can build on top of the Moonbeam platform.
- Improved user privacy – Users can decide what they do and don’t want to share with advertisers, publishers, and third-party partners without having to worry about their data being sold or used for nefarious purposes.
- Compensation for users’ data – With Moonbeam Network, you’ll receive payment for your personal data that is actually worth the price you set. No more exploitation, just quality products at fair prices!
- Global reach – Moonbeam’s decentralized network gives everyone an equal opportunity to participate, making it easier than ever before to connect with people around the world.
- Transparency of user activity – With Moonbeam Network, advertisers can track their campaigns and adjust them as necessary to maximize ROI.
Moonbeam is an open-source network which means that software updates and changes to the protocol will be available for everyone to view and make suggestions. What’s more, Moonbeam Network allows for the monetization of networks in the digital age. This means that you’ll get paid more for your data, while advertisers will reach their audience with targeted ads that users actually want to see!