UNDERSTANDING A DECENTRALIZED YOUTUBE || 10% beneficiary to tron-fan-club

INTRODUCTION

YouTube is a wonderful platform that pays it users for creating content and the content creators get paid based on the view a video received. Although, YouTube is a great platform it has its problems such as scamming comments, censorship of content on its platform, and so on. The good news is that there is a decentralized platform that is here to solve some of the problems of youtube with the help of blockchain technology.

ODYSEE is an alternative to youtube and content creators can share content on Odysee. Odysee runs on the LBRY blockchain and the content creator can earn tokens from their content without being censored.

WHAT IS LBRY?

In other to understand what a LBRY is, you need to understand what a WordPress is. A WordPress is a platform that allows people to create a website in it and is exactly what LBRY blockchain is. It allows a developer to run their website on their blockchain. So, what Odysee developers did was to develop a website that similar to youtube and even better. LBRY decentralized blockchain was developed for people to upload their content, and most of the time it is video. Once you upload a video, the video will remain online forever because the video will be sent to millions of computers around the world. In other words, any video you shared on the platform can not be taken down.

HOW DOES IT WORK?

I will like to use this example to explain how LBRY works. For instance, there is a guy named Jimmy who is a content creator. Jimmy upload a video to Odysee and the video that Jimmy upload will be distributed to millions of computers (The nodes). Jimmy will be given a unique URL that will lead to his video. Someone can decide to view Jimmy's video so he will pay Jimmy to give him the key to what is video. The person can decrypt the video with the key and some videos on Odysee are very cheap, some are expensive, and some are free. It is important to know that LBRY is a decentralized blockchain while Odysee is just one of the platforms that are developed with the help LBRY blockchain.

WHAT IS ODYSEE?

Odysee is a platform that is developed with the help of the LBRY decentralized blockchain and Odsee is a centralized platform that makes sure the platform is working well. The moderation of the Odysee platform is good, they only remove a video if it promotes violence, abuse, and terrorism. Just like youtube, Odysee has its algorithm that suggests your video.

PROBLEMS OF ODYSEE

The problem with the Odysee platform is that viewers don't the opportunity to select the resolution they want to watch. It is only the content creator that has more views that can have the resolution selection feature and the analysis is very poor.

MONETIZATION

The content creator can earn a specific amount of tokens. They are using an ad strategy that makes content creators earn more tokens. The viewer can tip the content creator with tokens and the viewer earn tokens for using the platform.

TOKENOMICS

The token used on Odysee is the LBRY token. About 400 million LBRY tokens were pre-mined before launching but 1 billion LBRY tokens will be minted. 10% of the token goes to charity programs, 20% is used for marketing, 10% is used to run the blockchain and the miners will earn the remaining 60%. LBRY blockchain is using PoW just like Bitcoin.

CONCLUSION

Odysee is a very good platform to use especially if you are youtube content creator. You can easily sync all your youtube content to Odysee but your channel must have a lot of view before you can sync your youtube video to Odysee. I believe you have learn something from the content.

Regards;
@olatunde1