About LBRY Credits (LBC )
LBRY Credits (LBC ) In 34,000 B.C., there were cave paintings, and that’s it. When you came home from a sweltering August day of foraging along the Vézère river, the only form of non-live art or entertainment available was something like the above buffalo.
LBRY Credits (LBC ) Today, live in a world of near infinite choices. This is true not just for art, but for all kinds of things (like potato chips). Since the era of cave art, humanity has incessantly and progressively trended towards interconnected, more efficient, and increasingly transparent markets.
LBRY Credits (LBC ) This undercurrent of connectedness and openness has affected everything human beings produce. Nerds like us like to speculate about the end-game of this trend with others on the internet.
LBRY Credits (LBC ) What will society be like when have a “Star Trek”-like capacity to instantly and freely replicate anything that exists? The term for this society is post-scarcity Generally, post-scarcity is regarded as fantastical; something that will never happen in the lifetime. Except for one area: digital goods.
LBRY Credits (LBC ) Storage Key Points
|Coin Name||LBRY Credits|
|Circulating Supply||521,054,806.79 LBC|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Chat||Click Here To Visit|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
A People’s Marketplace
LBRY is the first digital marketplace to be controlled by the market’s participants rather than a corporation or other 3rd-party. It is the most open, fair, and efficient marketplace for digital goods ever created, with an incentive design encouraging it to become the most complete.
At the highest level, LBRY does something extraordinarily simple. LBRY creates an association between a unique name and a piece of digital content, such as a movie, book, or game. This is similar to the domain name system that you are most likely using to access this very post.
LBRY differs from the status quo in three big ways:
- Coupled payment and access. If desired, the person who publishes to lbry://rhapsody-film#e1029aaa08bef8e9225efcbfb94a895e9bbdc8ea can charge a fee to users that view the content.
- Decentralized and distributed. Content published to LBRY is not specific to one computer or network, making LBRY robust to failure and disruption.
- Community controlled. No party other than the publisher (including us) can unilaterally remove or block content on the LBRY network.2
A Sample Use
Let’s look at a sample use of LBRY, Ernest releasing a film on LBRY that is later purchased and viewed by Hillary.
- Ernest wants to release his comedy-horror film, Ernie Runs For President.
- The content is encrypted and sliced into many pieces. These pieces are stored by hosts.
- Ernest reserves lbry://ernieruns, a name pointing to his content.
- When Ernest reserves the location, he also submits metadata, such as a description and thumbnail.
- Hillary, a user, opens her browser, searches the LBRY network, and decides she wants to watch the film.
The LBRY Network
To understand precisely what LBRY is and why it matters, one must understand both LBRY as a protocol and the services the protocol enables. HTTP is the protocol that makes web browsing possible, but it would be of little interest without the service of a web browser!
The LBRY Blockchain
A blockchain, or distributed ledger is the key innovation behind the Bitcoin network. Blockchains solved the very complicated technological problem of having a bunch of distributed, disparate entities all agree on a rivalrous state of affairs (like how much money they owe each other).
The Data Network (LBRYNet)
LBRYNet is the layer that makes the LBRY blockchain useful beyond a simple payment system. It says what to do with the information available in the LBRY blockchain, how to issue payments, how to look up a content identifier, and so on.