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Decentralized streaming video service Flixxo announced partnership with the distributed computing platform iEx.ec.
The Internet seems to be closely associated with video about dangerous tricks and cats playing on the keyboard. The Internet video system has been managed for years by websites such as YouTube, Twitch, Vimeo and Netflix. Of course, such an obvious centralization of such an enormous market worries many people, and not all of them are crypto enthusiasts keen on decentralizing everything.
Additionally, storing all that data on centralized services costs $ 1 billion a year when it comes to Netflix alone, not to mention the perils of centralized censorship and revenue distribution. However, there is a tectonic shift now, when new platforms for streaming video are appearing, which can be used for innovation, such as sharing files with peer-to-peer access and locking technologies. One of these new platforms – Flixxo, demonstrates great prospects with new functions and incentives for content creators.
Flixxo platform aiming to provide a decentralized ecosystem for uploading and sharing videos with its own tokenized economics has concluded partnership with iEx.ec — a decentralized network for distributed off-chain computations.
Flixxo platform uses BitTorrent protocol and blockchain to gives the chance to customers to earn money independently while watching advertising or the content that they have already seen. Flixxo users have the right to upload original videos and receive Flixxo tokens as a reward for quality content. Watching content is also not free, but the content creator has the right to dedicate a certain number of tokens users had paid for viewing to reward them for seeding it afterwards.
The niche of video streaming provides a clear opportunity for blockchain initiatives offering censorship-free content sharing, transparency of transactions, lower costs of content storage, and faster distribution.
Adrián Garelik, member of the development team, co-founder of RSK Labs, stated:
“Blockchain can help us by creating incentives for users to become distributors of content and also to set clear rules on content distribution. Creating a network of incentivized content distributors with transparent norms on how the content monetizes brings up new ways of connecting authors straight with consumers, creating new bonds and raising the levels of engagement.”
Flixxo platform uses BitTorrent protocol and blockchain to enable its users to earn money by watching ads or seeding the content they have already watched. Flixxo users are entitled to upload original videos and earn Flixx tokens as a reward for quality content. Watching content, in its turn, isn’t free as well, but the content creator is entitled to dedicate a certain amount of tokens users had paid for watching to reward them for seeding it afterwards.
Nevertheless, before sharing a certain part of a video content on a network, it needs to be transformed to a set of formats. As the task of coding and decoding of video very difficult, it is integrated with the distributed computing iEx.ec platform to delegate the resource-demanding job to the iEx.ec‘s decentralized network, built with 10 years of expertise in mind.
Jean-Charles Cabelguen, Chief Innovation & Adoption at iex.ec, said:
“Flixxo is the perfect example of dApps proposing needed services that will define new standards of the future of the digital. At iExec we are pleased to provide a platform allowing Flixxo to fulfill its mission.”
The solution proposed by iEx.ec project represents a distributive network on the basis of the Proof-of-Contribution consensus protocol allowing to integrate off-chain computation with the blockchain, providing at the same time material incentives to participants. For Flixxo it is a good opportunity to increase quality of services without the cost-inefficient centralized data processing centers.
Pablo Carbajo, the CTO at Flixxo, commented:
“The possibilities go further than that, as Flixxo nodes may even choose to participate in iExec’s network contributing their unused computing power. All this will be explored during the next months.”
As stated in the relevant press-release, Flixxo also aims to provide live video streaming. In this regard a powerful cloud computing backbone that would allow real time transcoding is crucial. And with iEx.ec this will be more than affordable.
Both companies have opted to raise funds via a token sale, with iEx.ec having already finished the campaign reaching its maximum cap in April 2017, and Flixxo’s sale being still underway. Flixxo’s tokens are available at the project’s official website and at ICOfunding.