What Is An “AdCoin”?
Category : Uncategorized
We use the term “AdCoin” to describe the value held in our customers’ and members’ accounts which originated from a Bitcoin deposit and that also preserves and backs that value 100% with Bitcoin because they (sic. AdCoin) are redeemable for Bitcoin at a fixed one-for-one exchange rate.
Why don’t we just call them Bitcoin then? There are a few reasons, among them is that it helps train users about and reinforce the adage about Bitcoin that “if you don’t control the keys you don’t own the Bitcoin”. For the sake of clarity and accountability we change the name of this new asset that the user has control over to “AdCoin” instead of using the name of the former asset they no longer have control over (i.e. Bitcoin).
AdCoin is NOT an altcoin despite the fact we use the word “coin” in its name. We use the word “coin” mostly to keep the user reminded that they are all redeemable 100% for BitCoin. There are concepts used around Bitcoin developer community such as “sidechains” and “tokens” which perhaps come closer to describing what an AdCoin is but the differences between them all are subtle and probably of little interest to our casual user.
To help differentiate our concept we regularly substitute either of the names “ad credit” or “advertising credit” for AdCoin. The three (AdCoin, ad credit, advertising credit) are synonymous and are ALL backed 100% with Bitcoin on a one-for-one exchange rate.
So … at the end of it all … AdCoin are really just the name sometimes used for account ledger entry values.