JSECoin is a project I joined since its very early days, barely a small script, trying to see if there really is a demand for an open, transparent browser mining project. Well, time has passed, it’s now more than a year since this blockchain startup emerged and they are really close to the end of their ICO (but more on that at the end of the article, bear with me).
According to a report published by Statista, the online advertising spending was $229 billion in 2017 and we are expecting 2018 to end with $269 billion (source):
That’s a huge amount of money. Most of it is centralized, revolving around well-known – but soon-to-be obsolete, because they’re over-centralized – businesses, like Googe AdSense and Facebook Advertising. I know you’ve been there: starting a blog, building some audience for 6 months and then trying your hand with AdSense, only to see $30 a month.
The problem, as always, is the so-called “middle man”. Or the fact that money from advertisers is “shredded” by all the hands they have to change until they reach the site owner. From actual buyers to media agencies, to re-buyers, to re-targeters, and so on, the site owner most of time ends with less than 50% of that amount.
Introducing JSECoin: what if site visitors, instead of seeing ads, would use their CPU to mine a small amount of tokens that will go to the site owner? A much cleaner solution. More decentralized than the current solutions and very transparent.
Of course, there are a lot of other problems to be solved now: from the bad rep browser mining got from ill-intended players (the “coinhive” breed), up to the actual use case for such a token (what would the site owner actually do with it). Some of these problems may only be amended – and time will tell if they will be solved completely – while some may be completely eliminated.
Let’s talk a bit about the “trust element”. JSECoin is – as far as I know – the first browser mining token with a full Opt-In mechanism. In other words, when visitors are coming to a JSECoin-enabled site, they are presented with a large banner, giving them the opportunity to opt-in, or out, with just a click. If they opt-in, they always have the possibility to opt-out if they so wish. The CPU consumption never increased by more than 10% in my tests.
As for the usability, that’s a broader discussion, and one that constantly emerges in any blockchain-related economics, from Bitcoin, which still struggles to be adopted, up to the last shitcoin, pretending you can buy some stuff with it. From somewhere. But here’s how it can be solve, at least in this case.
The Usability Case
Well, in the JSECoin ecosystem, you already start with merchant tools, which are part of the offer. Meaning you can integrate them in your shopping cart with just a few clicks, and offer your visitors the option to buy stuff from you using that token.
But that’s just the start. It gets even more interesting: inside the ecosystem there will be an ad-exchange platform, in which bidders will, well, bid for ad space in the websites where JSECoin is generated. So you can use your JSECoin tokens to buy advertising, and a website may choose to monetize only by JSECoin browser mining, only by JSECoin supported ads, or by a combination of both.
Well, it’s still advertising, you’ll say.
But it’s decentralized advertising and that’s a huge step forward in re-distributing the money from just 1 or 2 actors to a more dynamic and effective market. And it’s a real use case for a token. As a site owner I can really see how I can use the JSECoins that I make to create some traffic by spending them on advertising. It just makes sense.
While I was mentoring on the EOS hackathon last week in London, I also got to meet face to face with two of the JSECoin team members. James Bachini (tech guy, but he’s doing “a bit of everything”) and John Sim (client development, but he’s also doing strategy and marketing). I had a good impression of a two down-to-earth, relaxed and knowledgeable guys, working full time to grow their startup. We stayed in touch and, for today’s article, I got a few questions for them. What follows is a distilled form of our conversation.
End of short parenthesis
The Key Points Of JSECoin
- Decentralized, full Opt-In, browser mining, with 10.95% of the entire browser mining market, as of September 2018 (that means 1st place, by the way, all the other players have lower market caps, including Coinhive hidden mining scripts).
- Ad-exchange platform, to be released after the ICO, in Q4 2018. There are already 25,000 websites running the JSECoin browser code, and 80% of these opted-in for the ad marketplace, which gives around 10 million views per day (to start with).
- Mobile, web and desktop mining platforms. They just released the Mac version (after having the Windows version out for more than 10 months). Here are just 2 screenshots from a random account (showing the dashboard and mining tab):
4. Exchange listing in the next weeks (the JSECoin, apart from the mining platform, also has an ERC20 contract, for the ICO). And with that, let’s segway into…
The JSECoin ICO
The ICO is approaching its end, which will be in about 8 days from now, on October 11th. After that, expect to find the token in exchanges, but don’t forget you have a 5% bonus before the ICO ends. I won’t tell you more on that. You know better what to do, but I think the ICO link wouldn’t hurt, so here you are:
Disclaimer: I’m a JSECoin long time supporter, I hold some JSECoin tokens and the link is an affiliate link.