Modern web advertisements have become a considerable annoyance for the user. Recent consumer reports show that 43-73% of people dislike online pop-ups, mobile ads, and banner advertisements on websites. Additionally, many individuals express that advertisements have become more intrusive and prevalent in recent years. Web advertisements, in their many forms, have ultimately created a less than favorable user experience.
Despite the shared resentment among web users regarding ads, the use of advertisements as a form of generating revenue is a common and often necessary evil for website owners. Hosting content on a website requires purchasing server space and processing power, which can become a costly endeavor as a website grows. Thus, website owners often rely on web advertisements to help pay for operating costs or by requiring consumers to pay a monthly fee for ad-free content delivery. What if there was a better alternative to the use of web advertisements or pay-wall subscriptions? What if there was a method of generating revenue for website owners and content publishers that did not involve overwhelming your consumers with intrusive, annoying banners and videos?
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What is Oyster Pearl?
Oyster is a new protocol that approaches revenue generation on the web in a way radically different than past solutions. By offering the choice for users to commit a small portion of their device’s computing power to perform proof of work in return for web content, Oyster allows website owners to generate revenue without hindering the experience of their consumers. However, offering an alternative for revenue generation is not the sole purpose of the Oyster protocol. Additionally, Oyster provides a decentralized storage solution for users made possible through the proof of work performed by content consumers. The Oyster protocol accomplishes this by combining the benefits of both the Ethereum blockchain and IOTA Tangle. Users spend Ethereum-based Pearl tokens to store their data on a decentralized ledger which operates on top of the IOTA Tangle.
The Pearls are embedded in the encrypted data map of the user’s uploaded file. The devices of website visitors search for the Pearls across the IOTA Tangle. As they search for the Pearls, they inadvertently commit the data to the Tangle so that it is retained longer. Therefore, Oyster induces a blockchain treasure-hunt to bridge the economies of content publishers, content consumers, storage providers, and storage consumers. By uniting all these separate parties, Oyster unlocks the hidden revenue potential of the web.
Additionally, Oyster is easily integrated into a new or existing website. A website owner is required to add a single line of code to their website to enable Oyster’s revenue generating potential. Furthermore, to avoid public outrage similar to The Pirate Bay’s experimentation with Coinhive, Oyster will explicitly inform content consumers that their computational power is being requested, and it will be the consumers’ choice to comply with this request or to refuse offering their device’s resources.
Similar to how several websites will deny content to users using ad blocking software, website owners using Oyster will have the option to withhold content from users who do not offer their device’s resources. By offering an alternative to traditional web advertisements and subscription paywalls, Oyster plans to revolutionize the relationship between content publishers and consumers by offering a mutually beneficial platform that will lay the foundation for a decentralized storage network.