Mass Network has started its initial coin offering (ICO) period that will last until the 1st of December. Early investors will be rewarded with a 45% bonus, this bonus will last for 2 more days before it changes to 25%. All the funds gathered during the ICO will be held in escrow by two influential and trusted individuals within the blockchain community:
Marat Kichikov, Managing Partner, BitFury Capital
Alexander Kuzmin, CEO, Mycelium
During the initial coin offering period, 70% of the total coin supply will be sold for Bitcoin, while the remaining 30% will be distributed continuously within the Mass Network, as a reward for completing certain tasks in the network, with distribution difficulty increasing over time.
Despite popular belief, Mass Coins (MC) will not be issued as an alternative cryptocurrency with its own blockchain, but will rather be colored coin assets issued on the Bitcoin blockchain and will be used for all operations within the network. This asset will be issued using the Colu Platform, mainly due to its advancements in implementing the Lightning Network , a feature that will be useful to Mass as a micro-payment channel.
Mass Coin tokens will not pay dividends but since Advertisers will require MC to reward users for their attention and data, demand for the token will increase as the software becomes more popular. These coins will be distributed throughout investors on the 2nd of December, one day after the ICO period ends.
Mass Network is the software that will help users monetize their data and attention by creating an open and fair marketplace for all the parties involved: Users, Advertisers, and Web Masters. Unlike an Ad-Blocker, Mass does not want to eliminate ads or data gathering, but rather to balance the scales in a very unfair market where the providers of a highly demanded good (the users), which is user information and attention, are not being rewarded for doing so. This has led the user to believe his data and attention is worthless when in fact there is a billion dollar industry around it.
“Mass allows for the possibility of a mutually beneficial relationship to emerge between the ad industry and the individual.” – Mass White Paper
This piece of software protects user data and will only reveal it once the webmaster or advertiser agrees to pay the price established by the user. Once the price is paid, the whitelisted data will be collected, the advertisement will be shown and Mass Coins are paid to the built-in wallet in the Mass software, and can then be exchanged for Bitcoin or fiat on an exchange market.
Mass will not only create a market where individuals can profit from “selling” their data and attention, but it will also create an environment where the ads displayed will be relevant since the data they are selling will pertain to their specific browsing habits. Since Advertisers will be paying for your attention, the incentive to produce higher quality and targeted ads will increase. Mass Network will improve the current Real Time Bidding (RTB) system by adding transparency as well as a way for web users to participate in the process. RTB is continuous stream of instantaneous auctions that determine which ads are shown to which users on a website based on the data collected.
If successful, Mass Network can change the way the advertisement industry works, and while some believe that the Ad industry should not exist at all, Mass sees the value in aligning its interests with established systems to change the way we do business, rather than to change the system without any resources to begin with.