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Monvid: Decentralizing Streaming Service

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The internet had been bed of roses for those who are savvy with it. Aside social media and access to quality information, you can actually access other activities on the net. Streaming is one out of many channels opened up by the internet. Over the years, many people do not have extra time to spend on the television. Hence, they opt for online medium to carry out such tasks.

Streaming had come a long way. At the moment, it is gradually gaining access to many platforms. YouTube is one-stop site for all video sharing. Other websites on their part have started integrating streaming into their platforms. Netflix is also in the line offering videos to teeming audience.

With the adoption of the block chain in many fiat settings, it is expedient to implement it in this industry. The streaming industry is currently saddled with problems. Top of the list is insufficient video quality. On the other hand, the target scope is not attainable because there is no incentive to fast-track this. Equally, there is high rate of piracy in the system.

On Netflix for instance, users are required to subscribe on monthly basis to access videos on the site. However, payment is not made through banks. Since the world is digitized, payments are online. Hence, many users are literally disenfranchised from making payments. The reason is simple. About 30% of the world population is not banked. Thus, making payments for streaming services will; not be easy.

A Solution

There’s light at the tunnel’s end. Monvid is taking the lead towards bringing the block chain to another scenario. Reputed for its peer-to-peer transactions, the project is banking on this approach for video sharing.

Streaming on YouTube consumes lots of bandwidth. On the other hand, you have to part with some funds to access videos in other sites. With its P2P format, Monvid allows users get access to videos at no cost. Video creators can share their content with users on the platform. Though streaming is free, users can tip content creators with the MVID token for their inputs.

Users can also have proxy streaming. They don’t necessarily have to face restrictions that might emanate from cross-country streaming. Through the platform, users from different parts can interact.

Better than the Rest

The video sharing industry is currently centralized. YouTube and other top sites are in total control of the industry. With its coming, Monvid’s goal is to decentralize the industry. Attaining widespread acceptance to a layman will not be easy for Monvid.

There is however key strategies mapped out for this. Conventional streaming sites are under control of centralized platforms. Coupled by their mono-database, there are tendencies of hack. Likewise, costs are incurred. Content creators are not in full control of their content.

Thus, Monvid might not have much competition. Though these platforms have been doing their best, they will be complimented by this unique project. Backed by the block chain, there will concentration of contents in the hands of owners. Also, smart contracts will dictate transactions while costs will be reduced.

In the long run, when the block chain might have gained much ground, Monvid will prove itself as better variation to streaming.

Allocation of Tokens

Crowd-Sale: 70%

Reserve: 15%

Team: 10%

Bounty: 5%

Token Sales Information

Ticker: MVID

Platform: Ethereum

Standard: ERC20

Soft Cap: $500, 000 USD

Hard Cap: $5 million USD

Token Supply: 200 million

Exchange Rate: 1 MVID= $0.10 USD

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Monvid: Decentralizing Streaming Service. (2019, Jun 27). GradesFixer. Retrieved September 26, 2021, from https://gradesfixer.com/free-essay-examples/monvid-decentralizing-streaming-service/
“Monvid: Decentralizing Streaming Service.” GradesFixer, 27 Jun. 2019, gradesfixer.com/free-essay-examples/monvid-decentralizing-streaming-service/
Monvid: Decentralizing Streaming Service. [online]. Available at: <https://gradesfixer.com/free-essay-examples/monvid-decentralizing-streaming-service/> [Accessed 26 Sept. 2021].
Monvid: Decentralizing Streaming Service [Internet]. GradesFixer. 2019 Jun 27 [cited 2021 Sept 26]. Available from: https://gradesfixer.com/free-essay-examples/monvid-decentralizing-streaming-service/
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