What once was known as OpenAds is now known as OpenX, the open source ad server. OpenX is one of the best open source projects we have out their. OpenX is a terrific application and user interface. You can view the entire list of technical features and specifications here. There are a few specs that I wanted to point out that struck me as most important:

• Rotate different ads and ad networks
• Impression, click or conversions targets per day or lifetime of the campaign
• Integrated Flash support
• Traditional image, HTML and JavaScript ad formats
• Support for 3rd party ad tags such as Google Adsense
• Geo-targeting: Country, City, US Area Code, US/Canada Post Code Continent, Region.
• Page URL, Variable
• Sophisticated algorithms allocate your ad inventory in the most efficient way possible
• Conversion tracking
• Tracking and reporting across channels
• Customisation of reporting

Two typical scenarios work perfectly with OpenX. The first is that you want to host various ads on your website or blog and manage where and how often those ads are shown. As well as detailed reporting for those ads on impressions, clicks etc. The second scenario is you want to create an affiliate network of your own where you are generating ads for affiliates to use. OpenX supports this as well. So go to their website and check out the source code. I have installed the application on my Bluehost account with no problems whatsoever. It has worked perfectly for me.