BitTube is a decentralized blockchain project that aims to replace YouTube. It uses a video platform powered by cryptocurrency. In this article, “What is BitTube?” We will answer the question. In addition, we will touch on other questions about the project.
What is BitTube? What does it do?
The BitTube platform is designed to provide video content publishers with an uncensored outlet for their videos. It also eliminates centralized storage. It aims to eliminate the need for advertising to generate revenue. Instead, creators will only get paid for producing and uploading videos. Viewers can also get paid to watch videos. Additionally, payments will be made in the local currency of the BitTube platform known as BitTube Coin (TUBE).
What is TUBE coin?
TUBE coin is BitTube’s native token. Token is a privacy-centric cryptocurrency. In addition, BitTube uses the CryptoNight algorithm to ensure true privacy through cryptography and egalitarianism. TUBE is also somewhat unique in cryptocurrencies as there are no ICOs for the project and no pre-mining to top up the company’s coffers and developers’ bank accounts. BitTube has limited the number of TUBE tokens that can be issued to 1 billion coins. And mining can be done as simple as watching videos.
How does BitTube work?
Local government is at the heart of the BitTube platform, which places it at the forefront for the title “Bitcoin YouTube”. One of the keys to the decentralization of the platform is that the storage of video files is handled by IPFS. Additionally, this IPFS is a peer-to-peer hypermedia protocol that replaces HTML and works to decentralize the web.
The major benefit realized by the IPFS protocol is that user data is removed from the hands of central storage companies and control is given back to users and creators. Also, there are no central servers that store data with IPFS. Instead, it transmits all data to a decentralized global server network. It guarantees the security of the data through a hashing mechanism. In addition, efficiency is maximized with an algorithm that reduces data transfer and prevents duplicate data. One way to achieve this is by networking, which always searches for the nearest and fastest data source.
What is BitTube? How to get TUBE coins?
BitTube is currently traded on a small number of cryptocurrency exchanges. In addition, people who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges that BitTube is traded are listed as follows: TradeOgre and Graviex. Users who want to invest in the project should open an account on one of these exchanges.
