China’s LiveDAO aims to build a secure and private Live system for live broadcasting, making all rules implemented in a truly fair and transparently manner – with an interesting caveat… using 5G.
The project utilizes the brand new P2P live broadcast technology, which can be used in conjunction with 5G cellular network perfectly. Every 5G phone could become a streaming server so that the cost of the Live broadcast system and bandwidth can be reduced by up to 1/400. The Mist Node can become Normal streaming Node and utilize the PoNS (proof of network sharing) mining block. According to the rules, all activity of contributing bandwidth to the ecosystem can get a reward.
With this innovational P2P Live tech, the cost of Live operation reduces rapidly.
At present, the booming live broadcast industry gives prominence to chaos and problems, which is mainly reflected in the following fields:
- The content of Live is not “free” enough: For now, limited by privacy and security, the content of Live actually is not unrestrained enough. The monotonous content results in a variety of inferior and frequent eye-catching events.
- The high cost of Live operation: In the operating process of the live broadcast system and platform, the cost of server and bandwidth increase exponentially with the users increasing.
- The opaque of liquidation and settlement: 90% profit of live broadcast platform comes from gifts and rewards, while the authenticity of gifts, the transparent and fair of the settlement process cannot be guaranteed by the centralized platform. Some people are forced to change platforms but, they are only trapped by another platform.
The Cloud has an innovative decentralized Live system, A public chain which utilizes the BFT-DPOS consensus algorithm – LiveChain. The decentralised Live system is utilized for sharing the content safely while the LiveChain is utilized for rules implementation and assets circulation, both of them is utilized for every member in the ecosystem to ensure transparent rewards and punishments.
The decentralized Live system
LiveDAO completes the building and governing of decentralized Live system by LiveChain supernode. Composing The Mist normal streaming node to support bandwidth and streaming, the decentralized Live system could make the content more freedom.
For achieving better governance and performance, LiveChain chose to utilize the BFT-DPOS consensus algorithm building the public chain. With 21 supernodes worldwide, LiveChain can carry millions of transactions per second, exempt transaction fee and registration costs, meanwhile executing complex smart-contracts in a decentralized way.
By LiveChain and Smart-contracts, make Live settlement and liquidation efficient, transparent and fairness.
The token – LIVE
LIVE is the token that reflects the right of LiveDAO ecosystem, with a total supply of 3 billion. 67% is used for mining, the others are used for team and ecosystem construction. The mined LIVE tokens can trade immediately. Others will be blocked continually and will be unlocked by community voting.
LIVE token is used for staking and consumption, for example: staking LIVE to get a right of broadcasting, get a Live Chain supernode application right and get the right of LiveChain supernode voting, and pay LIVE for products.
The core team comes from LiveChain. Inc., founded in Nevada and listed on OTC Markets, and is responsible for constructing The Cloud. Another team from Ukraine’s L2L studio is responsible for constructing The Mist.
LiveDAO will have a merger and acquisition of ecosystem-valuable institutions (such as ITs, CPs, Celebrity Incubator, etc.), the M&A funds come from LiveChainHolding, which scheduled to be listed on NYSE in December 2019.
LiveDAO is a community that gathers participants of decentralized Live system. Through using the technical achievements form LiveChain, Inc., Live fans around the world are constantly take part in the community. Since May 2019, the community grew rapidly, and the LiveChain is scheduled to release at the end of this year.