BitFury will implement the Lightning Network on DeStream
BitFury, which is a full-service blockchain tech company, recently announced that it would work with DeStream. The partnership will entail consulting on smart contract development and implementing the Lightning Network protocol.
The Benefits Of This Partnership
Because of these two projects, it will increase and efficiency and transaction speed of micropayments. Users of DeStream will have the ability to send donations to artists with certainty that the funds get to them. This will be possible because of the blockchain, which will ensure efficiency and transparency in every transaction.
The primary goal of this project is to establish a global platform powered by the blockchain for the streaming market. It will make it possible to maximize the productivity of the streamers. As a result, they will be able to diversify their activity and get some startup capital.
The DeStream’s Goal
DeStream is committed to creating an ecosystem, which will act as the go-to ecosystem for streaming. The use of the blockchain will make it possible to reduce the transaction fee by almost double.
With decentralization, it will be possible for DeStream to exclude payment system for the ecosystem. As a result, they will have cut out most of the transaction fees. The result is that it will improve the quality of the content, which will allow streamers to focus on creating content.
The lack of distractions from operational activities will also ensure they can create more content. This partnership marks an important milestone in the project. It will ensure that the creation of quality content powered by the blockchain reaches the masses.
The Problems DeStream Will Solve
The High Rate Charged On Donations
With the DeStream platform, commissions will be kept to just 0.77% on every transaction. The DeStream, which is powered by the blockchain, takes almost 13 times less on commissions from donations.
Lack of Tools For Easy Donations
With the help of smart contract constructors, users can configure and launch many controllable challenges that have clear distributable penalties and rewards.
Complexities Of Consolidating Funds
All DeStream users will only require one wallet and a single token for transactions. This is unlike other platforms where they have to provide various methods to send funds. Getting access to the funds sometimes can be delayed by weeks or even months.
Inefficiencies In Ad Budget Allocation
It will be possible for advertisers to make decisions driven by data on their ads. The DeStream ecosystem will include an interface where big data can be analyzed. The interface will also ensure there is no access to private user data.
Chargebacks And Payment Insecurities
The DeStream platform is powered by smart contracts. These serve as a warranty of a contractual relation between streamers, viewers, and the advertisers. Thus, users of any type do not have to worry about being swindled.
Withdrawal Of Tokens From The Ecosystem
To ensure there are always enough tokens for this ecosystem, DeStream is coming up with an internal marketplace for viewers and streamers. Thus, they can purchase services or goods with ease.