What is the advantage to YouTube? Have you ever thought about it?
Obviously, as a frontend, YouTube is very valuable. The site itself is one of the highest ranked, with hundreds of millions of users. At the same time, it has an enormous amount of storage space. It is likely that YouTube has some of the largest storage capacity in the world.
However, when we really consider it, that is it. The user experience is nothing special. Content creators are drawn because of the opportunity to make money. Yet, the reality is that few vloggers on YouTube ever make any significant dollars.
Of course, in return for operating on their platform, one is giving them power over his or her business. If, one is successful, YouTube can zap it at any time. Over the last couple years it has changed the payout system a number of times. Also, and far worse, it simply closed accounts down.
Thus, we really need to analyze how strong their hold is.
This is something that the team at 3Speak did and, based upon their last video, they are about to change things in a big way.
Decentralized Video Storage
On tap is the idea of setting up a video network that is totally decentralized. This means that videos are not going to be controlled by one company or group of people. Instead, there will be videos hosted all over the world.
How is this accomplished? In a similar way to how SIA and Filecoin operate. 3Speak is setting up a project where everyone can contribute the excess space on their hard drive for this purpose. Naturally, to get people to do this, incentive needs to be offered.
Here we are going to see a token. Everyone will be able to earn the token by allowing the platform to use hard drive space. One will seed videos similar, I presume, to how the torrent system operate.
Best of all, these tokens will be airdropped on Hive holders.
The idea behind this is to allow all frontends to tie into the storage network. Therefore, regardless of what one is using, the information is available. If an entity comes in, such as a government, and takes down a site, the videos are still available on any other.
The analogy used is a road and shops. Think of the network as the road. If an individual shop closes down, is the road out of service? Of course not.
This is what is being set up.
Union Of Decentralized Video Platforms
Many are trying to do something similar to 3Speak. The idea of decentralized video is nothing new. However, everyone is competing instead of cooperating.
With this system, any of the other projects, whether LBRY or Bitchute can tap into it. They are capable of hosting their videos on this network also. It is open for all to access.
No matter what the front end, they all can play in the same pool. This is terrific for content creators because, suddenly, their videos are available on every front end. Unlike present video platforms, if something is uploaded on YouTube, it is no available anywhere else. Sure it can be linked but where is the video hosted? To get it elsewhere, requires one physical opening up an account and starting over.
The best part of all this is that anything that is loaded onto the network ends up on Hive. Imagine the growth. The decentralized storage network takes care of the video while Hive handles the text.
It is an extension of the concept on Hive right now. A post can be put up through any front end and the others can access it. All the text done through any of the front ends makes it to Hive where others UIs can view it.
Channels Becoming Sites
This is another breakthrough concept.
On YouTube, the thumbnail, when clicked will take one to the video. If one clicks on the username, their channel appears. 3Speak is presently set up following a similar model.
With the new update, when released, things will be completely different. Suddenly, a channel becomes a site. Thus, when clicking on the username, one's website could be brought up instead of the channel. At the same time, a content creator can handle all activity through his or her website. Thus, the ability to upload videos can be done from there and still end up on the network.
As we know, present social media platforms are siloed. This means everything is separate. If one has a YouTube account, he or she likely is on Twitter and Facebook. At the same time, there could be a website that is also in use. None of them, however, are interconnected. Instead, one has to tend to them separately.
Think about what this means for businesses. People are often hired who do nothing more than monitor each account and interact with customers/users.
All of that is eliminated.
Community Economy
Content creators are going to be able to turn their communities into economies. Instead of them just idly watching on YouTube, everyone is part of the economy. This is done by the content creator tokenizing basically him or herself.
This will be taken a step further by looking back at the hosting of the video content. Guess who is going to be able to offer up space on their hard drives to host video? The content creator's own community. Hence, they are part of the circular nature of this tokenized economy.
Here again, with the censoring of certain ideas becoming more prevalent, we see the ideal defense. If a creator does get hit by the authorities, nothing is done. Sure, the original website is gone but the content is still there. It is spread among the community. They could simply open up another site (or 100) and feed all the videos to it.
Network Effect
The key to all of this is to kick off a massive network effect. By focusing on the back end, the removes the importance of the front end. Presently, everyone is trying to gain users on through their UI platforms.
By linking the content creators to their communities which, in turn, are linked to the particular UIs they use, a massive amount of traffic is suddenly funneled in. Instead of a few videos going up each hour, the potential is to eventually rival YouTube. While that sounds like something crazy, as we found with Leofinance, it only takes one to show the model works before others start to follow.
Imagine one who "gets it" with, say, 10,000 YouTube users. Certainly this is not a whale on YouTube. However, it is enough to prove the system. If this person starts to host the videos on this decentralized storage network and promotes this concept through his or her website, how many will want to be a part of it? Instantly, a certain number will see the value in earning some crypto through video hosting. At the same time, if the content creator brings out a personal token, this will take the concept to all of those people.
Ultimately, it doesn't matter where the videos are uploaded from. They all end up on the network, thus tying all front ends together. The fact that they also tie into Hive is a bonus for those who are on that network.
Removing Middlemen
This is a system that removes all the middlemen from the equation. No matter what is being done, it is peer-to-peer. Social media is full of entities that develop the platforms, thus retain control while also taking a piece of the action.
There is none of that on here. With some of the tools already designed, we will see the features available. Tipping, for example, can suddenly take place across the entire network. Again, it does not matter where one is uploading videos from.
The same will be true if the content creators add a shop to their site. Presently, PayPal and others offer payment services. With cryptocurrency, we know that is not required. A personal token, as an example, can be used for this purpose.
A community also has the ability to increase its total value. Through its own promotion and distribution of the video links, it can help itself grow. This will obviously impact the value of the community, likely sending the token value up.
At the same time, if disputes do arise, there is no silencing of anyone. Since all video hosting is decentralized, the unhappy part can do what Hive did, and fork away. Simply take one's ball and set up your own shop.
There are some other tidbits in the video but this covers the basic essence of it all.
Feel free to comment about some things that were missed. It is a very exciting time especially since it sounds like a MVP of this new upgrade is close to being completed.
If you found this article informative, please give an upvote and rehive.
