Viuly, a decentralized video platform like YouTube or Twitch, is on a mission to disrupt the multi-billion dollar video sharing market. The market for online video is exploding; More than five billion videos are consumed every day on YouTube.

Even though the demand for quality video content has never been higher, not everyone is satisfied with the current state of the online video industry. One popular YouTuber, Casey Neistat, was particularly outraged when the platform demonetized his video to help raise money for victims of the Las Vegas shooting in October saying:

“I genuinely don’t feel YouTube does enough to care and look after their community.”

But it’s not just content creators that are calling foul. Much of the issues content creators are experiencing are a result of YouTube tweaking the platform to cater to the needs of advertisers.

Earlier this year, many YouTube creators saw popular uploads demonetized as a result of what YouTube deemed “explicit content.” Many vloggers felt skeptical about the platform’s ability to separate out good and bad content, including Phil Defranco, One of YouTube’s most popular vloggers. He said:

“It also appears to some that YouTube’s attempt to stop extremist videos is also resulting in the coming down on channels that have opinions that aren’t popular.”

Of course, YouTube wants to make the platform attractive to both advertisers and content creators, but appears to be struggling to walk the line. Much of what YouTube is experiencing is representative of the global video streaming industry as a whole.

YouTube, like many startup companies created in the early 2000s, is a centralized video platform, meaning creators upload content to a server, viewers watch that content and advertisers pay for a piece of the action. This model has worked well for many years. But with the blockchain technology revolution, there’s a better way of handling these platforms.

By creating a decentralized video sharing platform, Viuly eliminates the high commissions paid by advertisers, and distributes value to the videos that are creating the highest engagement. This model not only ensures that content creators are fairly compensated for their creative works, but also ensures that advertisers are not overpaying (see the project’s whitepaper here).

Viuly also makes it easy for non-creators to receive value from the platform. For example, viewers are actually able to monetize their engagement and reward their favorite creators. And because Viuly is a fully decentralized network of data, individuals are compensated for storage.

In addition, a decentralized model means that Viuly doesn’t have to police videos, or have massive data centers serving up content. The result is a revolutionary blockchain-based video sharing platform. Creating a decentralized network also makes it a much more reliable network without a single point of failure.

This revolutionary platform has already received funding from blockchain investors Krypton Capital and and recently announced an airdrop of VIU tokens to one million ethereum wallets. The VIU token will be used as a primary value exchange on the new video sharing platform (currently in alpha).

The airdrop will continue until November 21, at which point the company will have distributed an estimated 500 million VIU tokens. The new token will be listed on several exchanges, starting with Bit-z on November 19. In addition to experienced investors, Viuly’s leadership team boasts decades of experience in media, finance, and other startups, showing they have the capability to rival some of the largest Video platforms today.

The post Meet Viuly: The Online Media Killer Based on Blockchain Technology appeared first on CoinSpeaker.