As defined by WordPress,
WordAds is the official WordPress.com advertising program which lets you monetize your hosted blog.
Here is more about WordAds if you like to read more details.
WordAds has been introduced to WordPress on Nov 29, 2011 and since then is running on more than ten thousand sites.
The only problem is that WordAds at the moment is only enabled for users hosting their sites on WordPress, this excludes all the millions of sites who are hosting a WordPress blog on their own servers.
I just went to WordAds site http://wordads.co/plugin-setup/ and it seems that WordPress have already enabled the Beta program for self hosted WordPress users having jetpack.
Also I went to here http://wordads.co/signup/ and I am able to apply my site to WordAds…
This means that WordAds is already active on Jetpack. Too bad I don’t have enough visitors on notesfromanerd.com to apply to WordAds. So who knows, :), maybe sometime in the future