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).

--

--

--

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

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Mound (MND) Update as-of 17-Oct-2021

Beeple’s Anniversary: What Has Changed in the Past NFT Year?

Let’s get acquainted with Ape Coin

UQUID MONTHLY REVIEW, 15-July-2020 to 15-AUGUST-2020.

AntEx and iMM Global announce Strategic Partnership

BNBBoost.us — High APY Yield Farming. Earn from 9% up to 14.7% Daily on your Staked BNB

Fei Protocol (FEI) Things You Need To Know Before Investing

CoverCompared partners with iMe Smart Platform

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Doug Petkanics

Doug Petkanics

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

More from Medium

CARDANO NFT GENERATOR developed by ShelterPets

Hawksight. Tokenomics. Road map.

What’s the pricing structure of NFT-DAO tickets?

The 2022 1Ξ Challenge