Not sure how the present blog and news plugins work also not sure if what I am asking for is practically possible to make but if its possible then that may help to get more visitors. The idea of present blog and news plugin is great to get some traffic to our website from it, but thing is that not everyone is good in writing blogs and second thing is one person can't manage multiple things at same time like writing blogs, managing contents, promoting website, etc.
So, if it's possible for website visitor to register as author and along with posting their blogs they should also be able to add their Google ads code in some ad blocks on their blog page on our website. Suppose we have 6 ad blocks in 1 page then the author should have their Google ad code on 4 or 5 ad blocks and 1 or 2 ad blocks for website owner. This way that author may post their blogs in our predefined categories that we allow on our website. From this we can have more blog content without the headache of writing it on our own and more chances of visitors as the author will also put their effort to share their blogs.