Recently, YouTube-weary content creators now have a refreshing option. A decentralized video platform stands up to centralized competitors by ensuring that content creators and those who provide server space are fairly compensated.
Short-form video is rapidly becoming the primary communication medium on the Internet, and research shows that the typical consumer watches more than 10 hours a week of various online videos.
But whether it’s a four-second meme on TikTok, a four-minute prank on Facebook or a four-hour livestream on YouTube, there’s one big problem: Content creators have to work on the terms of the centralized tech giants.
Now, there’s Pocketnet, a decentralized video platform that aims to change the status quo — ensuring that revenue generated through advertising goes to those who upload the videos, while the process of curating content is left to the community.
Pocketnet, like a blockchain, is run by nodes, which operate no differently than digital assets. On-chain transfers enable users to publish content, vote on video quality, promote clips and subscribe to their favorite creators. Pocketnet highlighted this mode of operation in a series of exclusive live events called "Take Back the Internet." They will create a reputation-based system where the best video productions yield the highest rewards.
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Three key problems to be solved by Pocketnet
The goal of Pocketnet is to ensure that those who power decentralized servers are rewarded for their efforts — eliminating free public resources that could be abused by others. Its approach helps open up massive computing power without relying on the likes of Amazon Web Services (AWS web servers).
The Pocketnet blockchain acts as a consensus layer on the platform, and servers are incentivized to provide a high level of service for streaming. Failure to act in a network's best interest could result in damage to its reputation and other penalties.
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YouTube beware!
Over the past 12 months, Pocketnet has completed the beta phase of the platform and launched a fully decentralized social network without any central servers, meaning its infrastructure is fully backed by blockchain nodes.
Going forward, the team hopes to compete with the likes of WhatsApp, YouTube by releasing a peer-to-peer encrypted messaging service as a "truly private and decentralized alternative to social software like WhatsApp." The product will be released in the second half of June.
In addition, the developers of Pocketnet are also working on the NFT 3.0 project. Its infrastructure will ensure that only the artwork in the NFT can be previewed during the sale, meaning the winner will receive an encrypted copy of the full work and the key to decrypt the NFT.
Interestingly, Pocketnet held an exclusive live event for blockchain enthusiasts in June, titled "Taking Back the Internet," which is scheduled for June 10th, June 17th, June 24th, and Four live sessions will be held on 29 June.
We can clearly perceive that blockchain technology is penetrating into our Internet life at a speed visible to the naked eye, and we are also looking forward to what kind of surprises the decentralized social media platform will bring us.
