Major file-sharing company BitTorrent is about to begin internal testing of its new product: BitTorrent Live streaming platform. It will combine blockchain technology with a community live streaming application.
BitTorrent Live or otherwise BLive, will give its users an opportunity to create live video content, connect with people who share the same interests and passions. Potentially, this platform will grant a possibility to earn by expressing one’s creativity.
Justin Sun, founder of TRON and CEO of BitTorrent says that Blive is a new space for outstanding content creators. The ones who have thousands of followers but still cannot get their fair share of advertisements and opportunities.
Blive incorporates new technologies and mechanisms. Broadcasters will earn cryptocurrency and expand their fan-user base, while with the help of a new gifting machine, users and followers will tip their favorite creators with BTT and other cryptocurrencies. One major goal of BLive is to overcome the challenge of cross-border payments. Utilizing cryptocurrency, BLive combines the Livestream industry with the token economy and explores more use cases.
Also, its system reportedly contains a top user chart and a user relationship feature. Most platforms take a huge cut of the profits generated, with some as high as 90 percent. BLive strives to make a reward distribution fairer for content creators. By giving broadcasters bigger share of the revenue, it could encourage more people to jump into the live broadcasting sphere.
BitTorrent intends to roll out BLive in alpha, beta and full versions from Q3 2019 to Q1 2020. The current alpha version features a small group of users to test the platform. The development team continues to implement features.
•BLive provides a save cross-boarder payment channel. BLive uses a cryptocurrency-based economic system, thus creating a user-friendly space for underdeveloped regions around the globe.
•Profit-Sharing Ratio is 7:3. This means the platform will take 70 % of the profit and the other 30 % belongs to the broadcaster.
•Strong user base. BitTorrents ecosystem contains 100 million Monthly Active Users.
Previous plans for BLive
BLive has apparently been around since 2012. Although, BLive’s underlying software has changed dramatically. It is interesting to highlight that BLive first started out as a content delivery protocol with no emphasis on social media functions. However, the first version of BLive was canceled in April 2017.
Transactions and transfers on BLive
The platform supports several different payment and withdrawal methods including Bitcoin (BTC) and BitTorrent (BTT) coin, with zero transaction fees. For withdrawals and deposits, the number of third-party services are also supported. PayPal, Google Wallet, Android Pay, Apple Pay, WeChat and Alipay are also included in the system.
BLive will also support earning and gifting options. Users and creators will be able to earn BTT rewards through activities such as technical maintenance, event planning, and content creation