We’re here to share the latest milestone we achieved (and, well, to brag a little).
September has been an exciting month at the AdEx HQ — we reached 10,000,000 impressions (i.e. 10 million payments), then passed that milestone and kept serving ads and processing payments. Until we reached 16 million. And the month is not even over.
On top of that, our platform is not even open to the general public yet — we’re still in private beta. Imagine the scale we can achieve once we open publicly.
To put things into perspective, we are now not only the largest payment channel network on Ethereum but we process more transactionsper second than VISA. More than twice as much, to be precise.
For those of you unfamiliar with the details, we use blockchain technology for processing payments for each ad impression generated on the network. This is fantastic in terms of keeping things honest as it provides transparency for all parties — but it also makes scaling an ad platform challenging. To solve this and to lower transaction costs, we implemented an off-chain scaling solution, known as payment channels (we call this OUTPACE).
So here we are today. In less than a month, we processed more than 16 million impressions (i.e. payment transactions) settled on the Ethereum network. On public benchmarks, the payment channels were able to process up to 7,500 transactions per second compared to 1,700 transactions that payment giant VISA processes per second. And we’re darn proud of that.
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