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What is Zus (ZCN) ?
LBRY Credits (LBC) is a cryptocurrency that is used within the LBRY protocol. LBRY is a decentralized digital content sharing platform that aims to provide an alternative to centralized content platforms. The LBRY platform allows creators to upload their content and receive payment directly from consumers. The platform also provides users with the ability to store and share their own content.
History and Development
LBRY Credits was launched in 2016 by Jeremy Kauffman, Alex Grintsvayg, and Mike Vine. The team behind the project believed that the current centralized content platforms did not give creators the ability to control their content and revenue streams. The LBRY protocol was developed as an open-source platform that allows creators to share their content directly with consumers.
The LBRY protocol is built on top of blockchain technology and uses a modified version of the Bitcoin Core codebase. The LBRY blockchain is designed to support the sharing and publishing of digital content, such as videos, music, and ebooks. The protocol uses a Proof-of-Work (PoW) consensus algorithm to secure the network.
LBRY Credits are used as a payment mechanism on the LBRY platform. Content creators can set their own prices for their content, and consumers can use LBC to pay for access. Transactions on the LBRY platform are processed using the LBRY blockchain.
Advantages and Disadvantages
One of the main advantages of LBRY is that it provides creators with more control over their content and revenue streams. The LBRY protocol allows creators to set their own prices for their content and receive payment directly from consumers, without the need for intermediaries.
LBRY also provides users with the ability to store and share their own content, which can be an advantage for users who are concerned about censorship or content takedowns on centralized platforms.
However, LBRY faces several challenges. The LBRY platform currently has a relatively small user base, which can limit the amount of content available on the platform. Additionally, LBRY faces competition from other decentralized content platforms, such as IPFS and Filecoin.
As of May 2021, LBRY Credits (LBC) had a market capitalization of around $190 million USD, making it one of the top 300 cryptocurrencies by market cap. The price of LBC has been volatile, with significant price fluctuations in response to news and market developments.
LBRY Credits (LBC) is a cryptocurrency that is used within the LBRY protocol, a decentralized content sharing platform. The LBRY platform allows creators to upload their content and receive payment directly from consumers, without the need for intermediaries. LBRY Credits are used as a payment mechanism on the platform, and transactions are processed using the LBRY blockchain. While LBRY faces challenges, such as competition from other decentralized content platforms and a relatively small user base, it has the potential to provide creators with more control over their content and revenue streams.
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About Zus (ZCN)
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