AdEx, an international decentralized advertising network that is developing a blockchain-powered infrastructure for online ad market has announced it has partnered with NEO, a China-based open source blockchain.
Earlier AdEx planned to use Ethereum blockchain, however, it has seemingly opted otherwise after studying what NEO has to offer.
ADX, the platform’s native token issued over the course of the campaign, has peaked several times so far, and is currently traded at the price of $0.80, which is the coin’s all-time high. Its exchange rate skyrocketed immediately after the partnership was announced.
Neo was initially founded in 2014 under the name of Antshares. After the rebranding, it has become the country’s biggest blockchain infrastructure. The project claims that its main goal is to promote the emergence of what it calls ‘smart economy’.
AdEx has recently released their core smart contracts on Ethereum that would underlie its advertising network, AdEx Core.
“We see the huge potential of NEO and this is why we are aiming at becoming the first NEO-based DApp,” Ivo Georgiev, CEO and founder of AdEx, commented. “We are excited about porting the AdEx core as we are convinced this will increase the efficiency of our advertising network.”
AdEx is now engaged in developing a prototype of their service. Even though the project’s roadmap suggested that it would be released as early as next February, the team expects to finish it a few months earlier.
Tony Dao, the secretary general of Neo Council, added:
“We are looking forward to AdEx moving its core to the NEO ecosystem. We are positive that DApps will help us push the Smart Economy further, and AdEx is an excellent trailblazer for this.”
AdEx seeks to tackle issues found in contemporary online advertising, which includes ad fraud, privacy problems, and the issue of informed consent.
The news on the newly announced partnership come in the wake of a successful token creation event held by AdEx which raised 40,008 ETH.