BitTube, a Video streaming project, aims to be the next YouTube. But specifically for the cryptocurrency market. BitTube is a decentralised content platform on which content owners get paid directly by users and users get access to the content on the platform.
BitTube is one of the many blockchain projects in the cryptocurrency market and blockchain industry that aims to replace YouTube for the cryptocurrency market and amass YouTube’s cryptocurrency user base. It was founded by Halsey Minor.
Right now, BitTube is one of the many YouTube-like alternatives for the cryptocurrency market. The company’s biggest competitors at the moment are of the likes of Livepeer and YouNow. But as of now, BitTube aims to be the Bitcoin YouTube. So what is it that makes BitTube stand out from the rest?
BitTube; Monetize You Content.
BitTube is essentially a YouTube alternative for the cryptocurrency market. The company aims to provide a decentralised platform for the cryptocurrency market’s content creators. The platform allows users and content creators to release, distribute and circulate their content in a free, uncensored environment.
Another major selling point of the BitTube platform is that one of its aims is to release data from the grasp of data storage companies. In other words, create an environment which isolates cryptocurrency market and community-related data from data gathering companies and firms. One of the major enforcement that BitTube is making is the assertion of the worldwide right to free speech regardless of government policies and guidelines.
BitTube essentially advocates the first amendment right, under the US Constitution, of free speech to the entire global cryptocurrency market and community, by alleviating the platform from the need to censor content that is posted and shared on it.
The underlying technology and science is basically a combination of three major industries. Namely, the broadcasting industry, social media/networking and the blockchain. It basically takes from both of these thriving industries and puts it on the blockchain to create a decentralised platform for cryptocurrency content.
From a business standpoint, the company behind BitTube is essentially providing the cryptocurrency market with an alternative for content sharing. It creates a platform that basically incentivises the creation and sharing of content based on the number of times it gets accessed and thereby viewed.
How to Get Started with BitTube?
BitTube is a leading alternative for the cryptocurrency market and the community’s content. It provides a decentralised platform on which content creators can share, view and upload new and original content. And based on the number of hits or views that the content gets, make money off it.
BitTube and the company advocate the free speech and incentivise content creation in the cryptocurrency market. The end-goal of the crypto alternative for YouTube is just that. To be the YouTube for the cryptocurrency market. The BitTube platform is decentralised, so the data on the platform is totally free of being stolen and there will be no targetted ads based on users and their particular interests. Being a decentralised platform for content, the platform is also very meritocratic in its dealings and payouts.
Being a platform for content, it is obvious that the platform has two types of users. The types of users on BitTube are classified into the following groups;
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The User
The user is the person that accesses BitTube for solely for the content. To access content on the platform the user has no need to download or install anything as it is just like YouTube. It just requires an internet connection and a browser.Since one of the aims of the BitTube platform is to make sure that content is incentivised, the user, in this case, has to pay for access. All the money that is paid goes to the content creator or the person that owns the copyright of the content.
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The Content Creator
This type of user is the most important type of user on the platform. Because this user is the person that creates content for circulation and distribution. To become a content distributor on BitTube it is essential that the user downloads and installs a small file that enables them to upload content onto the platform. The advantage of being a content creator on the BitTube platform is that it is completely free of censorship and will be a place where users can get the whole picture instead of parts of it that are useful to certain parties involved.
The content creating user gets paid for his/her efforts. This happens when the user uploads a video and it is live on the platform. The amount of money that the content creator gets is based on the number of views and hits their content gets.
The advantage of the BitTube platform is that it is decentralised. Being decentralised it does not have to adhere to any laws of practice in specific countries and it is completely isolated from data companies. The transparency that the platform provides goes a long way to prove that. Being free of censorship also ensures artistic freedom on the platform.
[bctt tweet=”How BitTube is Better than Youtube” username=”ItsBlockchain”]
BitTube Vs YouTube
The final aim of BitTube is to become YouTube of the cryptocurrency world. YouTube is the most popular video and content streaming platform on the internet at the moment. But is becoming extremely commercialised. Using YouTube’s growth strategies, BitTube has adapted the idea to suit its cryptocurrency market needs and these are the differences between the two.
BitTube |
YouTube |
| Founded in 2017 | Founded in 2005 |
| The platform is completely advertisement free | The platform is not advertisement free |
| Autonomous search results | Manipulated search results |
| Free of censorship | Adhere to censorship laws and community guidelines |
| Incentives based on viewership | Incentives based on advertisements |
| Users are rewarded for consuming content | Users are not rewarded for consuming content |
| Decentralised | Centralised |
From the differences alone, the only place that YouTube goes over BitTube is in its years of existence. YouTube has been around for quite a while, whereas BitTube is just starting out, with under a year to its name. Every other feature that YouTube has, BitTube has a better solution or alternative.
[bctt tweet=”BitTube Vs YouTube” username=”ItsBlockchain”]
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Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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