Any digital file can be published on LBRY: Images, music, games, e-books and videos. Even less obvious ones like software plug-ins, Photoshop-brushes and 3d-printing files.
After enough people have downloaded your content, you do not need to have your LBRY App open any longer. This is because YOU are hosting your own files. The people who download your files become hosts of the files as well. This makes LBRY decentralized.
(You can also use LBRY services like Spee.ch to help host your videos and images.)
Name claims are made when a publisher publishes a digital file. eg: dancing-dog.mpg could be published at the name claim “lbry://funny“.
Other people may publish other files on the same name claim,”lbry://funny“. The name claim works very much like a search-keyword.
Minimum amount needed to publish, is less than 0.00001 cents – practically free.
But the file with the most LBC reserved into a name claim will be on the top of the search results. All of these reserved LBC are always retrieved back after abandoning/removing a claim. You never lose any LBC’s which are deposited.
Any developers can build a digital content platform (an app, or a website) which takes use of the LBRY protocol and the ability to monetize digital content.
The LBRY App was the first. Spee.ch was number two. Will you make the third?
The LBRY App is made by a US company called LBRY Inc. This app is reading and writing information to and from the LBRY blockchain network.
LBRY Inc. has no ability to remove anything from the blockchain network, but they can remove access to illegal files from the LBRY App.
They have pledged to only block content which breaks US law, and not to earn money from advertisement and fees.
Spee.ch promotes free speech, and is the first website to use the LBRY protocol. It is created by LBRY Inc.
Spee.ch is a free image/video hosting website. You can share your images and videos, but you cannot earn LBC from this site.
Spee.ch is using the LBRY network, so your content is published in a decentralized fashion. This protects your files from centrally owned companies.
All the free and public; images and videos published on the LBRY App, can be accessed at Spee.ch – and vice versa.
The LBRY protocol is not a company, it’s a set of rules on how to do things on the network.
Like HTTP: LBRY enables users to create an address to a digital file they have created. A LBRY-address (or a “name claim”) could look like this: lbry://funnyvideo – Same as the “http://” before every webpage.
Like Bitcoin: LBRY uses blockchain technology and has a currency called LBRY Credits (LBC).
Like BitTorrent (p2p): The files published on LBRY are hosted by its users.
LBRY Credits (LBC)
LBC is a CryptoCurrency. It is used as a medium of exchange on LBRY. Each content creator can decide to attach a price to his or her content.
It is also used to publish content. Minimum amount needed to publish, is less than 0.00001 cents.
Most content is free, so you do not need them to use the LBRY App!
LBRY Inc. gives out a couple of free LBC to new users in the LBRY App if you are able to verify yourself as human.
Or you can buy it, using other cryptocurrencies.
LBRY is open source, which means all the code is public for everyone to see on Github.
This communicates openness and trust in the community, like other popular open source projects: Linux, Mozilla Firefox, Wikipedia, Openoffice, and Bitcoin.
If you’re a developer, you can develop your own application by forking LBRY or Spee.ch – or improve the current work on GitHub!
LBRY is using blockchain technology to power its peer-to-peer (p2p) content distribution network, as well as its currency: LBC.
The blockchain technology, or decentralized ledger technology, enables decentralized and trustless exchanges between two parties!
Decentralized: there is no central authority which can take control of the network. If the founding company dies, the network will keep on existing.
Trustless: you do not need to trust the person with whom you exchange. Everything is cryptographically secured, similar to Bitcoin-transactions without middle-men!
The miners are people who decide to use the graphic cards of their computers to power and secure the LBRY blockchain network.
They verify transactions and make the network more secure to attacks.
The miners receive rewards in LBC. The faster your graphic card, the more LBC you will receive.
Want to know even more?
Read the F.A.Q at LBRY Inc.’s website
Or you can read the parts of the F.A.Q we think are most important:
- How do I backup my LBRY App wallet?
- Sync your Youtube account with LBRY
- How do I get LBRY Credits (LBC)?
- Unable to stream any content on the LBRY App?
- How do I publish on LBRY?
- Developing/Contributing to LBRY
- How do I get LBC rewards?