AdEx, a Blockchain-based ad exchange announced it is teaming up with the NEO Smart Contracts System. NEO, which is often dubbed the “Chinese Ethereum” bills itself as the Blockchain for the new “smart economy” and has recently been on a tear up the rankings by market cap and trading volume.
AdEx recently released the AdEx core, which is the base smart contract that powers the network. After evaluating the NEO smart contract system, the AdEx team decided that it would be the smart choice to port their AdEx core to NEO.
Ivo Georgiev, CEO and founder of AdEx says:
“We see the huge potential of NEO and this is why we are aiming at becoming the first NEO-based DApp.”
This seems to be useful for all the parties. NEO, which is aiming to be the leader of the “smart economy,” will also benefit from the new relationship.
Tony Tao, Secretary-general of NEO Council comments:
“We are looking forward to AdEx moving its core to the NEO ecosystem. We are positive that DApps will help us push the Smart Economy further, and AdEx is an excellent trailblazer for this.”
This is a milestone for NEO, as they hope to get more DApps on their smart contract platform moving forward. AdEx is still in the process of releasing the prototype of their advertising service, which according to their white paper will be publically available in February 2018. However, the AdEx team is confident that it will be ready a few months before that.
As the news broke, AdEx (ADX) price jumped over 100 percent within the past 24 hours to around $0.75, at the time of writing.
NEO also saw a spike, albeit much smaller to trade at $46.5, at the time of writing. NEO is trading up four percent in the past 24 hours, after a tough few days, where it struggled to hold on to its all-time-high of $54.43.