Because of the opacity of the sharednetwork, and driven by commercial interests, the copyright and ownership issuesof some digital content have become a crisis. From a small perspective, thephenomenon of piracy is the contempt for the author's labor achievements. Froma larger perspective, it is a disrespect for the human spirit and digitalachievements. Therefore, to save the copyright right is very urgent andimportant.
The Library Credits project usesblockchain to solve the copyright and ownership issues of digital content. Itprovides a global review boycott for content creators who want to sell e-books,artwork, music, videos and so on without paying fees to the intermediary. Allcontent uploaded to the LBRY network can be opened to the public. So LBRYCredits Coin works in the decentralized market of all digital content, which iswhy LBRY Credits Coin comes out. Because of this original intention, LBRY Credits Coin is alsocalled credit.
The current market value of LBRY creditsis US$64,551,963. Daily trading volume is USD 8,838,920. At present, there are497,980,286 LBRY credits with 104,394,945 pieces.
In the next 20 years, the number of unitsis expected to increase to 100 billion. 40% of coins will be blocked, and only60% are available for users to circulate freely.
40% of the 40% reserved willbe allocated as follows: 10% of charities.
There is also 10% of the fundsused for the team and to pay for operating costs.
The remaining 20% will be paidto the developer as a reward program to promote the expansion of the platform.
What makes LBRY Credits Coin special is that it is equipped with digital currencyand transparently dispersed books in a peer-to-peer protocol. The LBRY protocolopens the door to a new era of digital content distribution, makingpoint-to-point content distribution suitable for major publishing houses,self-publishers and everyone in the middle.
On the LBRY platform, usershave the opportunity to provide their digital content to other communitymembers. He is free to ask for coins or in this case he can buy LBRY CreditsCoin.
The decentralized system ofthe network makes it more robust to interference and server failures. Thecontent hosted is not on a single computer or server, but is distributedthroughout the network.
Another key point is thatcontent cannot be reviewed or suppressed by third parties. The only person whocan delete content is the author self.
At the highest level, LBRYdoes a very simple thing. LBRY creates associations between unique names anddigital content such as movies, books or games. Users search and preparestreaming media and movies via a fully decentralized network
The LBRY Credits Coin teampointed out that each transaction is recorded in the blockchain so that contentexchange can be tracked and stored permanently.
Therefore, there may beprosecutions. They also believe that the natural mechanism of trust willfurther curb the spread rather than worth it.
According to their plans, itremains to be seen whether LBRY Credits Coin will actually make redundant portals such as YouTube or BitTorrentredundant.
Finally, with regard to theorigin of the cryptocurrency, there is still room for growth in value in thefuture. What do you think?