Blockchain

Blockchain-Based Livestream Platform by BitTorrent, Blive, Moves Closer to Reality

It was back in October 2010 that Bram Cohen, BitTorrent’s chief scientist and also the creator of the BitTorrent protocol had shed some light on his pet project: a peer-to-peer technology to stream live videos. He, though, still needed to finetune some latency and packet loss issues, to turn this nascent yet promising platform into the technology of tomorrow.

The team at BitTorrent, since then, focused on making their protocol a platform that broadcasters could leverage to not only telecast live videos but also get in touch with others sharing the same passion, connect with friends, enjoy unprecedented privacy and even stand a chance to earn from the content they stream. The platform needed to be shaped in a way that would work seamlessly on a tvOS version, alongside its iOS and Android counterparts.

Fast forward to 4th September 2019, Justin Sun, CEO of BitTorrent and founder of the cryptocurrency platform TRON, officially announced that its blockchain-based live streaming platform, Blive is open to be tested internally.

 

BLive, world’s first live video streaming platform on the blockchain, brings a wide range of features to the table. Apart from live streaming audios and videos, BLive’s instant messaging system allows users to communicate, collaborate, and create.

The platform’s native gifting mechanism allows users to tip creators with BTT and other cryptocurrencies. Its deposit and withdrawal services of cryptocurrencies is another unique proposition.

BitTorrent has shared plans of releasing a public beta version of BLive for user feedback on or before September 20th. Now, as a part of internal testing, users will be able to access content streaming services, account creation system, user relationship, payment systems, and gifting systems on BLive.

Sun believes that

With the continuous growth of telecommunication technology and social media, livestreams have gained a tremendous edge and have become the dark horse of online communication. It gives rise to outstanding content creators who have thousands of followers but don’t get their fair share of advertisements and virtual gifts.

The BLive platform redefines a collaborative ecosystem wherein content creators and audiences can cooperate in an organic and decentralized manner. It aims to combine a constant generation of audio/video content with a token-based economy. By omitting third parties, content creators can now have access to larger shares of profits compared to any other platform.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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