Flixxo Partners with iExec to Create a Decentralized Youtube 🚨 This article is 7 years old...
Flixxo Partners with iExec to Create a Decentralized Youtube
3 min read
Updated: Dec. 3, 2017 at 3:33 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Flixxo, a startup looking to create a decentralized community for uploading and sharing videos, is working on building processing power into the network.
The Gibraltar-based operation has started work with iExec, a blockchain-based cloud computing service that helps overcome demanding processing jobs.
Flixxo is a community-based video distribution service, similar to Youtube but with decentralization and blockchain at its heart. The blockchain’s peer-to-peer nature allows advertisers, viewers, and content creators to engage directly.
Middlemen and third-parties are removed, so viewers are not paying for underused subscriptions or drowning in adverts. Users and creators will be the owners and beneficiaries of their content.
There are currently some pretty big fish in the video distribution space, particularly Netflix and Amazon. While these services provide great quality for a reasonable price, users continue to pay for hundreds of hours of content they don’t always want or need and producers see minimal returns from subscription money. Blockchains remove greedy middlemen and bring users the power.
“Blockchain has enabled a true online revolution: the digital transfer of value. Flixx is the first token based on this technology that is attached to a social video platform.”
In order to create a smooth working ecosystem, Flixxo’s own digital token, Flixx is being introduced. A powerful ICO from Flixxo has set the platform up for a future that could see it become a disrupter in the video content market. 11,511.65 Ether was invested in the coin offering which amounts to over $4.5 million USD or 63337069.57 Flixx.
Users need tokens to participate, which could be used to watch content. It also allows content producers to monetize and incentivize their work, while advertisers can pay for a moment of the users’ time.
Without the control of major corporations, user-driven content can thereby be created for everyone’s gain. Using Flixx, viewers could commision their own ideas with producers; content creators with a budget can offer rewards for watching their work; and advertisers can pay you directly for consuming their message.
In this peer-to-peer transaction, users can interact directly with producers, not only to make a more financially fair system but to create powerful content.
Hurdles to jump over
We know that decentralized blockchains are a developing industry with years, and even decades, of development ahead. One major bump in the road for Flixxo is processing power. Users need to be able to pick bandwidth and quality based on their content requirements. Encoding and decoding video is computing-intensive; current operating methods avail themselves of third parties such as YouTube, etc., to take on these tasks in-house.
To address this dilemma, Flixxo’s collaboration with iExec will help delegate these demanding jobs so that network nodes are not restricted based on processing power.
Future plans for live-streaming will also require powerful cloud computing for real-time transcoding, but Flixxo is clearly ready to take these challenges on.
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