Blockchain-based Odysee Keeps Your Social Media Content Online
If you want to upload the video content of your choice and keep it without the risk of it being deleted, the Odysee platform will keep your content on the blockchain at all times.
Created in July 2020, the Odysee video platform has grown its user base since its launch in December 2020. The YouTube-like platform hosts video content on the LBRY network. Unlike YouTube, there are no moderators or safety filters for young viewers – and the content stays on the blockchain all the time.
People forget – or don’t know that once data is added to the blockchain, it cannot be changed or deleted.
Odysee is built on blockchain technology and ensures that the chains of its creators can never be removed. When a channel is created, it is permanently recorded in a ledger distributed on the blockchain.
While this sounds like a great idea, it could have far-reaching consequences for some content creators years down the road, especially as attitudes change over time. Content creators may be faced with silly content that they regret a lot as they age.
Placing video content on the blockchain means that no entity controls or can modify it, making it impossible to remove from the platform no matter how extreme, violent, or bogus the content may be.
Odyssee says there are around 300,000 content creators on Odysee who upload a wide variety of video content on topics ranging from informative to downright bizarre. Users can watch any video for free unlike other video streaming platforms like Streamanity where the content creator sets the price to watch the videos.
Its December press release says the platform has 8.7 million monthly active users. However, Sitechecker estimates that Odysee.com receives less than 10,000 unique visitors per month to achieve a good result.
Odysee is built using the LBRY protocol that developers use to create applications to interact with content on the LBRY network. The predecessor of the LBRY.TV platform has now been retired in favor of Odysee.
When users upload a video, they deposit a minimum amount of LBC (LBRY Credits) starting at 0.01. 0.01 LBC is less than one cent.
Content creators can set an LBC price for watching the video if they choose. Fans of the video can also tip the content creator if they like the video. Each video shows how many credits they’ve earned for the creator.
The download repository ensures that the content is saved on the LBRY blockchain and will become discoverable to other users.
Users must have an Odysee wallet associated with their account, which is visible once they are logged in. They can also use third-party cryptocurrency wallets to store their money.
Income varies for content influencers. Odysee says the typical influencer figure varies, and creators “earn $ 100 per month up to $ 5,000 per month” for their downloads.
LBRY credits are not tied to the price of Bitcoin (BTC), but can be purchased through the app. You can also sell LBCs for cash.
Users can upload any video they want – which could lead to discussions about what should and shouldn’t be allowed and regulated – especially as the international conversation around social media regulation is growing. developed.
Some fear that far-right or extremist content will find its permanent place on platforms such as Odysee, with little moderation or withdrawal.
Odysee has some general guidelines from the community – but his comment “We don’t care what you post for the most part” might encourage posters to push the boundaries.
Directive number 4 says, “This is the Internet, we understood that; try not to be overtly abusive and mean to other users. This extends to continued harassment of other users, encouragement of slander and defamation of other users, and threat or intimidation of others in videos. ”
Does this mean that users can occasionally harass other users? The guidelines seem to encourage people to cross the line.
Using blockchain gives users and creators more control over their content. Just like in a bar, users must always respect certain conditions such as not to incite violence. They are also free to publish and engage as they would in a public setting.
Odyssey’s alternative to demonetization and deplatforming is delisting, whereby a user’s channel and content remains, but cannot be discovered using search, navigation or other tools. This allows the content to continue to be shared as desired.
Users can issue a command to delete their own content. Odysee reserves the right to remove extremist or annoying users from the list. However, the content is not removed from the LBRY network, only from Odysee.
There is certainly a lot of interesting content on the platform – along with the usual conspiracy theories and parody accounts.
The best accounts have hundreds of thousands of support credits, while other, less convincing and downright silly videos have won nothing. Will it become a haven for extremists and weirdos? Time will tell us.
But for content creators, who want to earn LBC right now, and ultimately turn it into money for their efforts – without a third party dictating how much they can earn – Odysee could be the platform for them.