LBRY is a decentralized open source protocol controlled by its users. LBRY allows you to use similar services to which we have access via YouTube, Netflix and Apple TV. Unlike these platforms, LBRY is completely decentralized! Services such as YouTube are centralized platforms controlled by one company or group of people. These companies can change policies and regulations, and censor content to reassure authoritarian governments or corporate partners. LBRY can never unilaterally change publisher or consumer policies.
People using the LBRY platform can make money from their published materials thanks to the built-in payment system. The concept combines the advantages of cryptocurrencies and BitTorrent for people who want to share content.
History and beginnings of the LBRA project
The inspiration to start working on a decentralized content sharing platform was the technology behind Bitcoin, and the way blockchain technology reaches consensus.
The beginnings of the project date back to 2016, when the cryptocurrency LBRA Credits made its debut [LBC]. LBC recorded the highest exchange rate on July 14, 2016 ($ 2.50).
LBRY is a content sharing platform. If you have a movie, song or eBook, you can publish it and make it very cheap on LBRY. If you are looking for content, you can easily find it, even your grandmother can do it.
– Jeremy Kauffman, CEO of LBRY.io
LBC uses its own public blockchain based on PoW. From a technological point of view, it is very similar to Bitcoin. The metadata contains content information, such as title, creator, price (if any), and a unique signature to retrieve real content from the data network. In addition to the libraries used by Bitcoin, LBRYcrd also uses icu4c.
Blockchain records everything that is published in LBRA, so interesting content is easy to find and infringing content is difficult to hide.
Blockchain technology provides 3 basic aspects of the LBRY project:
- indexing of content available on the web
- payment system and purchasing register for paid content
- source of the publisher’s cryptographic identity
While blockchain technology is the backbone of the project, the data network is the layer that actually makes blockchain useful.
On this level:
- metadata containing basic information about the user’s channel (title, language, media type, etc.) are verified and approved
- published files using LBRA are stored in a distributed manner by clients participating in the network. Each file is divided into many small pieces. Each element is encrypted and transmitted on the network.
- identity are created, signed and checked
The entire LBRA ecosystem is joined together by 3 applications:
- LBRY Desktop – desktop browser for LBRY networks based on React and Electron available on Windows, macOS and Linux.
- LBRA Android – Android browser for LBRY network in React Native, available in the PlayStore store.
- spee.ch – internet application for sharing and organizing content, designed for self-hosting.
Each of the above applications has open source code and the ability to access via API. The user can freely modify them according to his own needs.
LBRY in numbers – LBRYnomics
LBRYnomics is a collection of platform statistics available from the browser level. With its help, each user can check the current number of subscribers, the number of views and many other data.
In addition to information on the top 200 channels, the project allows you to track the development of the entire platform, providing more general numerical statistics such as:
- number of active accounts on the platform
- number of publications
- average number of followers, etc.
How can you earn from LBRA?
LBRY offers its users several ways to monetize its proprietary content. Of course, we earn LBC tokens, which are listed on several exchanges, including: CoinDeal and Bittrex. A full list of places where you can buy LBC tokens is located here.
As of today, LBC tokens can be obtained:
- In the form of a reward for watching content, watching channels, publishing content, encouraging other users to follow your channels, inviting other people to join LBRA and much more.
- From the command system by inviting others to the platform
- As a bonus for helping with testing or for sharing in the community
- Helping you create your application and contributing as a programmer.
- I will buy them
- Dig – network preview
- Through tips – Your fans can tip you.
LBRY offers YouTubers an easy way to republish content on the LBRY network, connect with LBRY users, and earn LBC. This program is available to new and existing LBRA users – installing or using the platform is not a prerequisite for synchronizing your channel. LBRY provides a one-click synchronization process that collects channel and video file metadata.
IMPORTANT: Creators have the right to receive monthly prizes in the form of LBC tokens if they have a minimum of 1,000 subscribers.
Content will be automatically synchronized on the platform. Movies usually sync within 24 hours. The exceptions are more popular channels, which media appear within an hour or two.
Earnings are as follows.
|CURRENT YOUTUBE SUBSCRIBERS||LBC TOKENS / YEAR||USD VALUE 1 LBC = $ 0.0389 USD|
|1,000||1,080 LBC||42.04 USD|
|10,000||6,000 LBC||233.56 USD|
|50,000||12,600 LBC||490.47 USD|
|100,000||20,400 LBC||794.10 USD|
|500,000||40.800 LBC||1,588.20 USD|
|1,000,000||75.600 LBC||2,942.84 USD|
We encourage you to try the platform LBRY.io and share opinions in the comments.