After gaining listing on OKEx in late March, Prochain (PRA) token has yet secured listing on one of the top exchanges, BitZ cryptocurrency exchange. The official announcement on May 10th 2018 was made on Twitter raising hopes for the coin to breach the $1 mark. The token traded volumes close to $1 million USD on the new exchange in the last 24 hours, as the token traded its largest daily volumes in its short history. The $30 million USD worth of PRA traded over two exchanges on May 11th 2018 was the highest since inception of the internet advertising token.
ProChain is currently in a bullish momentum as the hourly charts show with the coin experiencing higher highs and higher lows. The 26% increase in daily price of PRA saw the coin settle at $0.61 USD on Friday.
“ProChain’s goal is to build a transparent digital advertising data ecosystem: connecting advertisers, media and developers to improve the efficiency of settlement of advertising business, reduce the loss of advertising traffic fraud, to intermediaries, digital advertising to participate in Side to share the maximum benefits.”
ProChain solution’s to Internet Advertising problems
As seen below, the one of the major problems lies on the data and how it’s transferred to publishers, users and consumers. A distrust and dissatisfaction amongst the digital advertising industry makes it costly to run digital campaigns on the internet. To solve the problem, ProChain (PRA) is employing blockchain technology to build a trustless and decentralized ecosystem in internet advertising.
- Centralization of digital advertising
The current channels of advertising have evolved to digital advertising in the last few years as time spent online collectively increases by the day. As numbers increase, more and more businesses are looking at the internet to make consumers known of their products. However, the massive growth in digital advertising comes with increased fraud and extreme costs in an environment where publishers, users, corporations and consumers do not trust each other. This leads to uneven distribution of resources along the digital advert corridors as huge data companies such as Google, Amazon, Facebook are able to benefit more than publishers and users in such a system. The issue arises as to how pricing of adverts on centralized platforms is carried out ̶ CPM and CPC methods.
ProChain provides a decentralize platform that allows peer to peer connection between advertisers, users and consumers. This will cut out the middle man while distributing data and incentives fairly to the users on ProChain.
- Fraudulent behavior
Apart from the costly pricing methods employed, internet advertising also deals with the problem of click fraud which is one of the biggest issues limping the industry. This accounts for an astonishing 40%-60% of the total clicks making digital advertising inefficient to its intended goal. ProChain blockchain will introduce an anti-fraudulent mechanism that will track fraud accurately through distinguishing inappropriate user behavior, abnormal user behavior and false traffic on the platform.
ProChain (PRA) was first conceptualized in late February 2017 with the PRA token, originally named PRO, offered later in the year. A total of 10 million tokens were offered during the 7 day ICO period with the rest 90 million tokens released sequentially. The PRA token at roughly $0.3 USD per piece during the sale.