What is LBRY Credits (LBC)? Future of LBC Cryptocurrency and know how to buy LBC
#1 - What is LBRY Credits (LBC)?
In recent years, digital content distribution platforms like YouTube, Netflix, iTunes, have grown to be the entertainment giants and substantially replacing the traditional entertainment mediums. The growth of these platforms has also led to the rise of issues like, copyright, censorship, privacy and monetization methods, which affect both the content creators and the content consumers. LBRY, a digital content hub, presents itself as a blockchain-based solution to these problems. LBRY wishes to create a digital marketplace for content, which can be controlled by its users instead of large corporations or other entities.
LBRY Credits (LBC): The Basics
LBRY (pronounced “Library”) is a decentralized digital content distribution protocol and a marketplace for the same. It supports a variety of content which includes but not limited to videos, songs, ebooks, etc.
LBRY uses blockchain at its core, which enables content to only be controlled by its author/ publisher, not by any third party, effectively eliminating issues like censorship and copyright strikes.
Since the code of the LBRY project is open-source, developers can create their own decentralized apps (dApps). Content creators can use these apps to upload their content on the LBRY network and monetize it by setting a fee.
LBRY credits or simply LBC is the cryptocurrency created by the LBRY network to fuel its entire digital content market. The LBC coin is required by consumers to access the monetized content on LBRY network. The LBRY platform also allows LBC mining by giving block rewards.
Development of LBRY
Jeremy Kauffman co-founded LBRY Inc. with the vision of a decentralized global content hub, controlled and owned by no one. Currently, Jeremy is the chief executive officer of LBRY Inc. Before working on the LBRY project, Jeremy founded TopScore, a million dollars event and activity registrations