JoyStream is a blockchain version of the BitTorrent, a popular torrent client, where peers are rewarded with cryptocurrency for seeding media content like movies, music, software and more over the blockchain network.
The JoyStream app is now live on Bitcoin Cash mainnet, having been some years in development, according to the developers. The news was announced in a blog post today, March 20:
“Lots of projects have promised cryptocurrency incentivised bandwidth, and it has been talked about for years, but we are the first to actually deliver on this,” the team announced the app’s launch in a Medium post.
The application, available currently for Windows, Mac, and Linux to for free, has a user-friendly UI and allows you to download media content and track in real time, revenue and spending of Bitcoin Cash in exchange for data seeded over the BitTorrent network.
Seeding is a way of sharing content peer-to-peer, or directly between computers, that most notably has been associated with illegal spread of pirated content. Despite that, in itself it’s a useful technology, one that aligns perfectly with blockchain’s values of decentralization.
The application is using Bitcoin Cash (BCH) as a main currency and smart contracts with Segwit. The team is in the process of integrating with the Lightning Network to scale up processing power, although they are being cautious about the switch:
“We fully expect to use this sort of routed payment channel technology [the LN] in the future, and potentially even on Bitcoin, however now is not the time for us.”
The team at JoyStream wants as many users to be able to try the application as possible. If some users currently don’t have Bitcoin Cash, the team will be giving them a limited amount of free Bitcoin Cash from the dev’s faucet when the software is first installed. To receive the free coins one needs to have an existing BCH wallet and provide the receiving address.
The very first version the JoyStream’s protocol was designed back in May 2014, and used Bitcoin (BTC) as a currency. But this was a very different time in the crypto ecosystem, the team’s blog says. Transactions were cheap, confirmation times were low. Since then, the prices and processing times have gone up and the team decided to switch over from BTC to BCH.
The app currently has rather limited choice of content, but the developers hope to get support from the community and keep growing and improving both the technology and offered service.
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