Furthering their goal to provide a completely decentralized platform for uploading and sharing videos, Flixxo has announced that they have entered into a strategic partnership with iExec, a decentralized network and marketplace for cloud computing.
FLIXXO AND IEXEC – TAKING LIVE VIDEO STREAMING AND CONTENT DISTRIBUTION TO THE NEXT LEVEL
The video content distribution market has already been divided among major players like YouTube, Netflix, and Amazon. Understandably, the centralization of such an enormous market worries many people. Not only does smack of monopolization, but storing all of that data is expensive. On its own, Netflix spends over $1 billion per year on data storage and those overhead costs get passed down to consumers. Finally, there are the perils of centralized censorship and revenue distribution.
Video streaming is a market that is crying out for blockchain initiatives, which can offer censorship-free content sharing, transparency of transactions, significantly lower data storage costs, and faster distribution.
The Flixxo is a video sharing platform that enables users to upload videos, share them with the community, and get rewarded with Flixx tokens (FLX). It is based on a peer-to-peer (p2p) distributed content storage system from which the actual videos will be transferred via BitTorrent and stored locally on the viewers’ devices. Content providers earn tokens when someone watches their content and viewers can earn tokens by watching ads or by seeding content that they have already watched.
Before a piece of video content can be shared on the network, however, it needs to be converted into a variety of formats to allow users to choose the one that fits their bandwidth and quality requirements best. Since the task of encoding and decoding videos is very computing intensive, Flixxo has entered into a partnership with the iEx.ec distributed computing platform in order to delegate the resource-demanding job to iEx.ec’s decentralized network.
Speaking about the new partnership, iEx.ec Chief of Innovation and Adoption Jean-Charles Cabelguen stated:
Flixxo is the perfect example of dApps proposing needed services that will define new standards of the future of the digital. At iExec we are pleased to provide a platform allowing Flixxo to fulfill its mission.
The solution offered by iEx.ec is a distributed computing network based on the Proof-of-Contribution consensus protocol that allows the integration of off-chain computations with the blockchain, while also providing material incentives for the participants. For Flixxo it is the perfect opportunity to push the quality of its services higher without cost-inefficient centralized data centers.
Pablo Carbajo, CTO of Flixxo, explained:
The possibilities go further than that, as Flixxo nodes may even choose to participate in iExec’s network contributing their unused computing power. All this will be explored during the next months.
One of the features that Flixxo plans to introduce into its platform is live video streaming. To do this, a powerful cloud computing backbone is needed that would allow for real-time transcoding is critical. iExec has the computational power that Flixxo needs to accomplish this task.