Ternio

From BitcoinWiki
This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Ternio (TERN) has created the world's fastest blockchain called Lexicon. See the the whitepaper[1] for a detailed explanation.

Description[edit]

The digital advertising industry as we know it today faces many challenges; domain fraud, bot traffic, lack of transparency, and lengthy payment models. It is a complex and ever evolving environment for advertisers and publishers alike to navigate through. Ternio, meaning "A series of Three", representing all three aspects of the digital advertising ecosystem: user, publisher and advertiser was born out of necessity to streamline and bring clarification to both sides of the table. Ternio was originally built to solve digital programmatic advertising problems. It is a blockchain based utility token to transform and ultimately disrupt the $224 billion[2] per year digital advertising market through a multifaceted approach. Incentives and the general ecosystem are not aligned causing both advertisers and publishers to feel they are on the losing side of the deal. Ternio provides a verifiable and decentralized asset that empowers advertisers to verify spend through each intermediary and gives publishers the assurance and guarentee of being paid on delivery. With advertisers knowing that they are getting what they pay for and publishers not having to wait months to collect, Ternio stands in the forefront of a new digital advertising revolution. Ternio created the Lexicon blockchain, which is an open door to all industries in need of high transaction speeds, such as non-advertising companies, including P2P payments and marketplace trading.

Lexicon[edit]

Lexicon is a blockchain revolving around data: any application, infrastructure, company, or industry is able to utilize Lexicon while still holding to their cryptocurrency of choice. Lexicon works with all cryptocurrencies in areas where assets or a currency is needing to be exchanged in a secure decentralized environment while still having the flexibility to a blockchain around your needs. Lexicon has the flexibility to be able to run within both a permissioned and open environment based on the use-case while still holding to a complete decentralized state for both large and small companies alike. By having a flexible core, the creator is able to state the environment and node configuration of the blockchain. The Lexicon framework utilizes a BFT algorithm for consensus which allows for a secure transaction, flexibility, and scalability.

Lexicon is based upon Hyperledger Fabric[3][4] for immediate smart contracts and transactions of advertisements, a communication layer for ultra-fast data transfer, and Ternio blockchain (token) built off of Stellar (XLM)[5][6]. It was built with the intention of full transparency in mind that works off a series of manually verified partner nodes. These Ternio nodes sign, verify, and hold contracts for a span of 24 hours. All transactions are encrypted using SHA3 and only stakeholders in the transaction can decrypt their records. This enables privacy from onlookers from the outside, while keeping transparency between the publisher, advertising platforms and advertisers (supply chain).

In terms of transaction limitations, Lexicon has no current pre-defined limit on the number of transactions, while the payment settlement side of Ternio has a 100x greater transaction limit than Ethereum. When a user enters a site to begin a session, a request is made to the Ternio network. This request is first received by the communication layer. This layer communicated information on the user, determines a fraud judgement of the user, verifies the domain, and then communicated with the advertiser or advertising platform on the corresponding data of the user. The purpose of the communication layer is to both transmit data back and forth, as well as pass the advertisers data and/or creative on to the site. When the advertiser or advertising platform determined they want to purchase an ad impression for the user, the Lexicon contract will begin and the advertisement is placed on the website in view of the user to interact with.

The contract continues to stay open until the user either moves to another page or the advertiser's determined success metric has occurred. Once the contract has completed, the decentralized ledger is stored for up to 24 hours until the time of transaction processing. Each day the contracts are collected, and counted; Ternio transaction contracts are then created, and payment is settled for each of the publishers. All Lexicon blockchain records within each node are destroyed after the 24 hour period. However, any partner that is running a node may backup these records for their own use and verification or view Ternio's historical ledger which is available to all publishers, advertising networks, and advertisers directly using Ternio.

Scalability is king[edit]

In order to provide a blockchain framework that is able to hit the masses and be utilized by any industry in the world, scalability is a requirement. At the current moment Ternio has proven the ability of the Lexicon framework to exceed 1 million transactions per second through an independent third-party verification[7]. The verification process was done by Null Bash, a blockchain security firm.

Features[edit]

  • Net(0) payment vs Net(60) or Net(90)
  • Preventing fraud for advertisers
  • Complete transparency of the supply chain
  • Streamlined payment process and reporting

Block Card[edit]

To simplify payments for users, Ternio is currently working to setup a physical VISA/Mastercard card for quick and easy transaction transfers. Rather than transfer funds to a publisher's digital wallet, bank account, PayPal, or other mechanism, the Block Card will allow for almost instantaneous transfers giving users direct access to funds.

References[edit]

See Also on BitcoinWiki[edit]

  • https://ternio.docsend.com/view/4jji4v4
  • https://www.emarketer.com/Report/Worldwide-Ad-Spending-eMarketer-Forecast-2017/2002019
  • http://hyperledger-fabric.readthedocs.io/en/latest/chaincode.html
  • https://en.wikipedia.org/wiki/Hyperledger
  • https://www.stellar.org/
  • https://en.wikipedia.org/wiki/Stellar_(payment_network)
  • https://ternio.io/audit