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Startup Raises $20 Million to Construct ‘YouTube on the Blockchain’

Silicon Valley startup Lino is getting ready to tackle YouTube with a decentralized, collectively-owned video content material distribution system that purports to chop out the intermediary to extra pretty compensate content material creators.

The corporate, which faces competitors from Streamspace, Flixxo, Viuly and Stream, all of that are creating comparable ideas, obtained a $20 million vote of confidence from outstanding Chinese language seed investor Zhenfund throughout a personal token sale, it introduced at the moment.

Explaining the corporate’s mission, its web site says that YouTube holds “huge energy” over creators and focuses on maximizing revenue, which might deliver it into battle with its precise creators.

The location continues:

“The answer is to create a collectively owned, decentralized technique of distribution, which ensures all content material worth is instantly distributed to content material creators and affiliated contributors with out going by way of a privately owned entity as a intermediary.”

The corporate’s LINO tokens will function because the system’s forex and will probably be earned by creating and sharing content material, in addition to from the event of infrastructure and purposes on high of the Lino blockchain. In different phrases, customers who run nodes to host content material will earn tokens, as will the content material creators, based on a Medium put up by the group.

“We imagine in decentralized, peer-to-peer [content delivery networks (CDN)], however present initiatives appear not prepared for stability and prices,” Lino’s web site states.

As an alternative, it seeks to offer a decentralized CDN by way of an public sale system, which the founders imagine will preserve a excessive customary of labor on the platform, based on TechCrunch.

The worth of the content material will probably be decided by human engagement with it, which Lino argues will stop fraud and bots from manipulating the system. Transactions will probably be freed from cost. The “public sale system” is a mirrored image of that engagement – customers with extra attention-grabbing or novel content material will obtain extra of a reward than those that produce much less attention-grabbing content material.

Lino chief govt Wilson Wei instructed TechCrunch that he anticipated content material creators to garner three to 5 occasions the income they make on YouTube or its competitor web site, Twitch.

Whereas the end result of Lino’s venture stays to be seen – the product will launch later this yr – Wei expressed confidence in its underlying design. He instructed TechCrunch:

“The entire content material economic system is big, however we imagine within the decentralized group idea. Why do not we do it and beginning the entire revolution beginning with video content material?”

Picture by way of Shutterstock

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Written by Nikolai

Nikolai is a Canadian writer currently living in Singapore. His started writing on Blockchian and bitcoin since 2017, he do Reviews and Analysis on Coins, ICOs. He holds a Master in Business Management and have keen interest in Computer Since, Blockchain and love to write on latest trends in Blockchain space.


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