the future of streaming is decentralized. Although streaming services like YouTube are great, they have many drawbacks. Now, an alternative is emerging that is unrestricted by centralized organizations like Google and Facebook, thanks to blockchain technology.In this quick guide, we explore crucial insights we need to know about decentralized video streaming services powered by blockchain technology offer a more open, transparent, and efficient alternative to conventional streaming platforms.
Challenges
With centralized services, a few substantial businesses control and decide what users can upload, discuss, and consequently, even think about. If they violate the rules of service, they are out.
Online streaming services like YouTube now block content that was acceptable just a few years ago. At the same time, comment sections from news websites are disappearing.
The Emergence of Decentralized Streaming Platforms
Development of decentralised streaming platforms is growing in popularity as a result of features like top-notch security, freedom of speech, and several other advantages.
Take note of conventional sites, such as YouTube or Spotify. We observe that the site does not give content producers enough freedom to be completely honest with their audience about their opinion or content.
Blockchain Technology has the Potential to Transform Streaming with the:
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Blockchain-Based Profile Creation: Digital identity-based account creation that contains immutable users interests and info
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Multiple Payment Gateway: Customizable, flexible crypto-based secure payment options, including digital cards and others
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Search and Geolocation: An easy-to-use tool that uses geolocation and finds broadcasts based on users’ current location
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Multi-Access & Multi-Lingual: Multi-country access with multi-lingual streaming options to connect the global audiences
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Video Resolution Conversion: Video division into smaller segments to reduce extensive memory usage for server uploads
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User Ratings and Reviews: Reward mechanisms for users to rate and review a particular video accessible by other users
Streaming Solutions Development with Blockchain
On-Demand Streaming Platforms Development
Creating blockchain-based on-demand streaming services enables viewers to pay per metered viewing and pay content owners depending on consumption viewing. With smart contracts, stakeholders can boost content distribution, consumption, and payment models, improve royalties administration, reach a bigger audience globally with multi-country access, and more. Moreover, they can encourage creative loyalty management initiatives to sustain steadfast customer loyalty.
Live Streaming Platforms Development
Providing live streaming solutions that are affordable, safe, and scalable enables users to create live or on-demand videos and power their streaming capabilities. Using blockchain technology, it enables users to easily broadcast a range of information, including surveillance, conferences, gaming, coding, entertainment, educational courses, and more. Further, blockchain plays a crucial role in reducing infrastructure costs or high streaming bills significantly with quicker TPS (transaction processing per second) and scalability.
A few of the Current Blockchain-based Streaming platforms
Livepeer
Livepeer is a decentralized peer-to-peer platform that runs on the Ethereum blockchain and primarily seeks to democratize live video. The Livepeer Token, or LPT, cryptocurrency allows users to engage in the live peer network.
YouNow
Similar to Livepeer, the video streaming network YouNow is for services like video chat and live broadcasts.
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