Joystream Network: The Revolutionary Blockchain Project Decentralizing Online Streaming Services.

Streaming services have taken over the internet, and blockchain technology can take it to the next level. We almost take it for granted that we are able to listen to music or watch videos on our smartphones, tapping into the vast digital space that is the internet. Streaming technology has brought a paradigm shift in innovations that makes it easy for us to receive our preferred interactive content anywhere, anytime. But this has also come with some fundamental issues associated with media content distribution- a centralized system with too many gatekeepers, limiting any interactions between content creators and consumers, and too many barriers for newcomers in the industry. The net effects are over-exclusion, high costs of production, imbalance sharing of revenues, exploitation by middlemen, intellectual property dilution, lack of transparency, etc. Joystream Network is working to change this, and make the streaming services a fair and transparent industry.

What is Joystream Network?

The Joystream Network is a decentralized video platform that has transferred the power of ownership, control, and operation of video production and consumption to its users. Powered by the revolutionary blockchain technology, The Joystream Network is working with two key products: ATLAS and PIONEER. The goal was to create a media network that is accountable to its community of users, by providing transparent, trustless, and fair interactions between users, and the team saw these achievable via ATLAS and PIONEER.

So how do the two products work?

ATLAS - Created for content creators to allow them the freedom and flexibility to create their content and monetize it. This kind of flexibility is not provided by many video streaming service providers.

PIONEER - Created to give users the power to control what happens on the platform. Here, users can vote, submit their ideas, and chat the way forward on the direction of the platform.

Why is the Joystream Network project important?

By transferring the control of content creation, distribution, and consumption to users, the platform is solving the problem that has affected the streaming industry for ages. We all agree that content creators should earn what they deserve, and not be reliant on centralized video streaming companies that have held the industry at ransom for many years. Creators interacting with their content consumers is another game-changer, as the two are the most important players in this entire ecosystem. It’s logical to conclude that the Joystream Network’s robust approach and cutting-edge blockchain technology will provide a favorable ecosystem for the network users, thus revolutionizing the streaming service economy for the better.

Learn more: https://www.joystream.org/manifesto