Thank you to everyone who joined AMA Blockelite x Jambo Network on 20th May at 10 AM UTC I 5 PM (UTC+7). Here is the recap for those who missed this AMA.
Our special guest today is Sreedha – Head of Project
Segment 1: Introduction about Jambo Network and Sreedha – Head of Project
Q1: Can you briefly introduce yourself as well as about the Jambo Network?
Sreedha – Head of Project: I’m Sreedha！😘I want to thank this community, I’m very glad to be included in this event. my personal responsibility is to work with our team to realize the vision of the project step by step.
Today the online advertising market is worth billions of U.S. dollars. Marketing budgets mostly go to corporations such as search engines and social media companies. The lack of trust between stakeholders in the industry chain brings problems for the parts such as advertisement verification, data monitoring, and advertisement blocking.
To solve these problems, Jambo Network uses local cross-chain technology.
As the first blockchain ad-tech support platform on Polkadot, Jambo has been committed to creating a transparent and credible decentralized ecosystem.
We take advantages of huge volumes of data from the advertising and communication industry and use blockchain technology, to help users filter information directly or indirectly. done.
Without a doubt, blockchain has given us a safe and reliable underlying technology, However, each public chain is equivalent to a data silo which makes it difficult or costly to communicate between data silos.
Q2: Why does Jambo Network choose to build in Polkadot? What solutions can Jambo Network bring and will it be useful in the future?
Sreedha – Head of Project: Well, although the Polkadot ecosystem is still at a relatively early stage, we believe that this is a revolutionary change for the blockchain industry and even for other industries in the future.
Based on the Polkadot ecosystem, each chain can be optimized with a specific design for a specific application scenario. This means that blockchain can provide better services while it also improves efficiency and security by eliminating unnecessary costs.
Jambo can use this advantage to influence the online traffic for different industries and communities, allowing more people to enjoy the dividends of the development of high-traffic applications. At the same time, the Jambo Network ecosystem will continue to develop healthily.
Everyone can enter our telegram group to learn more about Jambo：https://t.me/JamboNetwork😘
Q3: How can advertisers and users integrate Jambo Network? Are there any requirements or barriers for those who do not know much about programming or blockchain?
Sreedha – Head of Project: Jambo Network technology will query, verify and authenticate data islands. Advertisers can purchase blockchain-based users and advertising spaces through the platform, and use smart contracts to sign media purchase contracts and enhance transparency and trust in the ecosystem.
It matches user with available advertising. This matching method enables the content of the advertisement to be delivered to the correct user at the correct time. Since the distribution of promotional advertisements is used together with the oracle, the system will provide relevant rewards in exchange for its services. The oracle connects on-chain and off-chain, enabling the wide distribution of advertising materials.
Through the Jambo cross-chain slot, ordinary users can choose a suitable form of advertising which the Jambo advertising protocol publishes with one click. The audience, the coverage area, the playback period, the number of playbacks, etc. are all recorded on the chain, creating the new ecosystem for advertising.
Q4: Can you briefly explain the core features of the JAM token? How can JAM token holders benefit?
Sreedha – Head of Project: As the value carrier of the JAMBO ecosystem, JAM utilizes the stable ecosystem of JAMBO, whether advertisers, channel parties or users, can share the value dividend of JAM distributed network in JAMBO. JAM will be used as the only means of value exchange in the following processes :
- Cross-chain services on the JAMBO technology platform
- The circulation in the JAMBO advertising alliance
- The medium of exchange between advertising and channels
JAM can benchmark the equity of the platform, allowing users to get corresponding real-time financial rewards by consuming advertisement, and by staking JAM they can even get a share of the advertising fee generated by an available advertising space. By building this transparent system which operates in real time we hope to establish a community that can profit from the advertisement that has penetrated every aspect of our lifes.
Q5: When the world is embracing Web3.0. How does Jambo Network guarantee and ensure to be the best project in terms of facilitating DApp development?
Sreedha – Head of Project: The most important aspect of Web 3.0 allows everyone to truly control the ownership of their own information and assets. With the support of blockchain trust mechanism, the trust in Web 3.0 no longer comes from an authoritative and trusted third party, but the decentralized network mechanism itself.
Jambo Network uses blockchain technology to build a blockchain network with Ad Exchange function based on Polkadot Substract. As the driving force of Web3.0, Jambo Network is committed to providing transparent, efficient and stable communication services for the industry.
In addition, Jambo will continue to improve the ecosystem, by enhancing transparency and trust in the ecosystem with the help of smart contracts. Through the advertisement matching engine, the advertisement content that accurately matches a user’s attributes is screened, and at the same time, a certain reward is given to the oracle. In the entire ecosystem, better-quality prediction opportunities will get more rewards, prompting oracles to continuously improve computing power and optimize algorithms, and further promote the continuous development of the ecosystem. Thanks！
Segment 2: Twitter questions
Q1: Would you agree with me that adoption and utility are key factors to a project’s survival and success? What’s being done to drive global adoption of jambo labs amidst crypto regulations, legislation, and competition?
Sreedha – Head of Project: Adoptability and practicality are important factors that affect the long-term development of the project. From the first step of blockchain technology that went on to become bitcoin, it has now developed into a cutting-edge technology and core of the entire blockchain world, It has become not just a technological development but also changed the way millions people invest and store their assets.
This rapid development reflects the vitality in the development process for blockchain technology. And we tried to incorporate this spirit and the technical foundation in the development of the JAMBO platform.
Under the JAMBO ecosystem, the contract system for advertising will no longer exist. Everyone can carry out the dissemination of advertisements, and the system calculates rewards for disseminating users based on attention.
Advertisers can also become ad publishers. JAMBO’s new ecosystem can be developed for purchase channels. As a traffic party platform, it no longer conducts advertising sales to earn income. Instead, it enhances the value of its own ecosystem through the operation and maintenance of the ecosystem.
It enable the agents to use the ecosystem. The appreciation of the currency is used to create income, which is used in the traffic circles of many industries and communities around the world, so that more people can enjoy the dividends of the development of high-traffic applications
Q2: There are three core issues in encryption and blockchain technology, namely security, interoperability and scalability. How does $JAMovercome these problems?
Sreedha – Head of Project: Although the blockchain gives us a safe and reliable underlying technology, each public chain is equivalent to an isolated island, and it is difficult or costly to communicate between isolated islands. Polkadot’s cross-chain agreement is equivalent to establishing a bridge between each island.
Jambo Network combines the current technical status of the Web3.0 and uses Polkadot ecosystem to solve the problem of lack of scalability in Ethereum. To solve the deficiencies in the Web 2.0 advertising industry. Jambo Parachain uses a trusted (phisher) terminal DAPP (collector). ) to collect data, and the in-chain decentralized matching engine ADX (validator) to connect to the Polkadot relay chain to ensure the authenticity, transparency and security of advertising business data (content, placement, audience, effect, etc.)
Q3: Is your project a local project or a global project ? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service ?
Sreedha – Head of Project: Jambo Network is a global project, serving everyone around the world. We insist on improving the convenience for users to participate in blockchain advertising applications, and build a large-traffic ecosystem. Whether it is advertisers, media or advertising users, in any part of the advertising process, there are no restrictions. Based on Tokens and smart contracts, Jambo Network guarantees that all participants can submit requirements, complete payments, and obtain revenue. open, fair and traceable.
Segment 3: Live questions
Q1: One of the problems with platforms that are interoperable is slippage and speed of operations. How does JAMBO solve this to provide the best service to its users? How fast are my assets traded on your platform?
Sreedha – Head of Project: With its multi-chain structure, Polkadot can process multiple transactions in parallel. As more chains enter and transaction volume grows, this structure will maintain its scalabilities and be able to increase its throughput. The Polkadot ecosystem can support at least 10,000 test assemblies through its secondary chain architecture. Each secondary chain can support 1000+TPS. High processing speed is the reason why Jambo Network chose the Polkadot ecosystem.
Q2: There are various advertisements on Dapps that are already on the market. JAMBO NETWORK must compete with such existing offers. What are the advantages of JAMBO NETWORK?
Sreedha – Head of Project: Jambo can realize value interoperability based on the Polkadot ecosystem. Even if the user holds Bitcoin, he can complete the operations on the application chain. At the same time, the open underlying technology can give developers a diversified system, such as account systems, consensus mechanisms, etc., which can be customized by themselves.
In addition, Jambo will continue to optimize and enrich the ecosystem, and improve transparency and trust with smart contracts. Through the advertisement matching engine, the advertisement content that accurately matches the user’s attributes is screened out, and at the same time, a certain reward is given to the oracle. In the entire ecosystem, better-quality prediction opportunities will get more rewards, prompting oracles to continuously improve computing power and optimize algorithms, and further promote the continuous development of the ecology.
Q3: Is the jambo ad network like Google’s ad network?
Sreedha – Head of Project: As we know, Google has encountered lawsuits and received fines for violating its users privacy. Public reports show that on January 21, 2019, due to the mandatory collection of user information, it failed to correctly disclose to users how it collects data through its search engine, Google Maps and YouTube services to display personalized advertisements. Google was fined a penalty of 50 million euros by France.
Jambo can help facilitate data transactions and ensure that buyers and sellers get the benefits they deserve. A decentralized approach is also useful to create a fair market for personal data because no entity can easily set market prices. Of course we are not trying to replace Google adwords, we just want to build a fairer and more transparent ad network. Thanks！
As the first blockchain ad-tech support platform, Jambo has been committed to creating a transparent and credible decentralized advertising industry value ecology.