BlockCDN brings sharing economy to bandwidth
Wednesday 07 December 2016
A Chinese blockchain startup has designed a content distribution service to make users’ unused bandwidth available to other people, rewarding the providers with cryptocurrency payments.
Content Delivery Networks (CDNs) are networks of servers that ensure end users can access content with high performance and availability. To date, they have tended to be hosted in data centres. Media companies and other clients pay the CDN to ensure their content reaches users reliably. Now, however, BlockCDN is proposing a decentralised version in which everyday web users can sell unused bandwidth at market rates.
Anyone can take part by connecting their device – whether this is a mobile, tablet, desktop, laptop or even a TV set-top box – to BlockCDN. They can then share their excess bandwidth in return for digital currency.
The project was founded by experts within the CDN industry, who recognised the efficiencies and advantages of taking such a decentralised approach. By tapping into a huge network of web users, BlockCDN can provide the same service as a traditional CDN, but at a lower cost – and they can pass 95% of the revenues on to network participants.
Chinese content giant Youku are first in line to test the system. Youku is a well-known video hosting service, which has some 500 million monthly active users and boasts 800 million daily video views.
To fund marketing and development, BlockCDN are holding an initial coin offering (ICO). However, developers have already released a working product – a range of mining software – and adoption is growing fast. Around 600 miners are on board to date, putting BlockCDN in a strong position for launch in early 2017.
BlockCDN is has been raising funds in Ethereum and has opened its ICO to bitcoin investors today. The ICO runs until 26 December. Early bird investors will receive a 40% profit share for three years.
For more information, visit www.blockcdn.org.
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