BitTube - the new YouTube competition?
What is BitTube?
BitTube is a new, decentralized video streaming platform that gives back control to publishers and viewers.
It is a blockchain-based platform that already integrates a payment solution with BitTube (TUBE), which allows video creators to make money from their content without advertising. And the payments are not only decentralized by the cryptocurrency TUBE, but the underlying database uses the IPFS Protocol, a decentralized and distributed ledger technology based on the Bitcoin blockchain. For this reason, there are no centralized servers that host your video data. As a result, the video content is absolutely resistant to censorship.
Earn Tube´s while watching
Video creators and viewers will receive the cryptocurrency TUBE based on playback time. The currency Tube is created by a proof-of-work blockchain, a private cryptocurrency network operated by miners. Anyone can also mine TUBE from home.
Media mining; A 30% share of the miner block premium is reserved for the airtime revenue model, allowing BitTube to completely forgo advertising. When content is consumed, payouts are distributed to creators (70% share) and viewers (30% share) based on playtime ("airtime"), proportional to the platform-wide total of airtime per block.
Switch easy; With the integrated YouTube Connector, video creators can import their entire video inventory into BitTube with one click.
How does BitTube work
BitTube uses the IPFS protocol as a data store. As a result, all data stored or retrieved via BitTube will no longer be stored in large data centers, but will be distributed worldwide on the IPFS network. No country, government or company is in control of this data. Once uploaded, the data cannot be deleted or changed and is available to any Internet user, via any IPFS gateway, with a unique hash worldwide. There is no censorship in the IPFS network. BitTube offers users the ability to use this worldwide network for free, while copyright holders can monetize their media content through media mining.
Fully integrated payment system
In the BitTube interface, a wallet is integrated for receiving and sending TUBE. All profiles on BitTube come with automatically generated wallet addresses. The developers are currently working to ensure that you can buy and sell the TUBE directly on the platform for fiat currency without the need to register on other exchange exchanges. If you want to buy TUBE now, you still have to resort to an exchange exchange exchange, such as: Bittrex or Upbit.
You can see airtime and payouts via your own Bittube Airtime Explorer, similar to blockchain Explorer.
Now you select a video on Youtube and click on the Bittube addon icon at the top right. Then click on watch on Bittube and the video opens in the Bittube Player. For example, you can watch your usual Youtube playlist and get paid for it :-).
Security through artificial intelligence and community
AI-based security through copyright review and community driven governance. Uploads are scanned by an AI with ContentID and potential violations are flagged for review. To ensure censorship resistance, content, copyright infringement and moderation are dealt with in a decentralised system that gives the community control and promotes fair use. The system provides participants with an incentive to play by the rules based on rewards and penalties.
Products and services for mass adapts
The developers are working on many products and services to increase the demand for TUBE. These include, but are not limited to, premium subscriptions, video-on-demand, BitTube Debit Mastercard (can already be pre-ordered), donations, self-promotion, channel-Stay, content protection (encryption), pro membership, governance (use of TUBEs as moderator), Community marketplace (offer services and merchandise), product placement marketplace, etc.
... and last but not least, there is also an adult channel from BitTube;-)
More "usecase" is not possible and we see a lot of potential in this project.
Write us your opinion below in the comments!!!