PROPS by YouNow, Livepeer, and the Road to Decentralization

  • Introduces a cryptocurrency into their social streaming experience.
  • Opens up their ecosystem to allow other developers to create experiences
  • Flips their entire business model on its head, allowing content creators, curators, and users to keep the vast majority of the revenue that they generate — a much larger percentage than was possible in the existing closed proprietary model.
  1. Fully decentralize the economy — move from whitelisted partner apps with transparent reward engines to fully algorithmic and open token reward distributions.
  2. Open up the platform — while the economics and token distributions are transparent on the Ethereum blockchain from day 1, the internal code and infrastructure that powers much of the video experience is not. PROPS has publicly committed to open sourcing much of this software in the coming year.
  3. Decentralize the infrastructure — as it stands today, YouNow still needs to build, run, and pay for the proprietary infrastructure needed to power the video aspects of the live applications that use PROPS. This costs money, so it either needs to be paid via a tax in the PROPS network, or absorbed via the token appreciation business model. In the future however, as decentralized video infrastructure solutions, like Livepeer, emerge, apps built on the PROPS network can fund the costs directly, even better aligning token holder’s incentives amongst a fully decentralized network, rather than operating within an economy that powers a group of centralized providers (apps in the PROPS ecosystem).

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Doug Petkanics

Doug Petkanics

1.97K Followers

Building live streaming on the blockchain at Livepeer. Previously Founder, VP Eng at Wildcard and Hyperpublic (acquired by Groupon).