There are many different blockchain-based projects which will help transform the future of the internet. Innovation is always a positive development in this regard. Bit.Tube, for example, is a platform which could introduce some positive changes when it comes to decentralized video content publishing.
The Idea Behind Bit.Tube
Although it will be very difficult to dethrone YouTube as the go-to video publishing platform, Bit.Tube can make a positive impact in this regard at some point. The project is designed to decentralized video content publishing and offer innovative use cases in the process. It is not the first platform focusing on this particular business model, but there are some interesting features to take note of.
Under the Hood
As its name suggests, Bit.Tube will allow anyone in the world to upload and share video content without any limitations. It is important for the team to empower video creators and consumers, rather than force them to rely on centralized platforms such as YouTube. Moreover, the platform has cryptocurrency solutions integrated from day one, which will undoubtedly attract a lot of attention moving forward.
All of the data stored on the Bit.Tube platform will not be stored on large servers or in centralized locations. Instead, it will be distributed globally through the IPFS network. The platform and its team avoid censorship measures put in place by governments, as there is no central authority involved at any given time. Moreover, the information can never be deleted or altered, which will herald a completely new era for video content delivery in general.
Accessing this new platform can be done through any browser. Viewing content doesn’t require any additional data, regardless of who uploaded it or when. Broadcasting on Bit.Tube will also become possible, yet that will require a small piece of software. It is still an interesting concept which will transform video streaming into a decentralized enterprise that relies on peer-to-peer bandwidth.
The TUBE Token
With so many blockchain platforms coming to market, it is only natural that new currencies are introduced as well. In the case of Bit.Tube, the currency is known as TUBE, and it has an available coin supply of just over 53 million tokens. Surprisingly, there will be no initial coin offering in this regard, yet tokens can be purchased from exchanges and there is a mining option to look into as well.
There is still a lot to do before Bit.Tube can ever consider going mainstream. As of right now, the platform is home to a few videos, but it is not a rival to other platforms by any means. There will be no ads on the platform, and 90% of the platform’s revenue will be shared with miners. With options to host unlimited videos, the introduction of PPV models down the line, and mobile and Smart TV compatibility, Bit.Tube is certainly worth keeping an eye on.
Why would anyone buy the TUBE currency? What can they can do with this currency?