Wednesday, October 20, 2021
Home News Chinese Video Hosting Service Youku First to Trial BlockCDNs Blockchain Content Distribution...

Chinese Video Hosting Service Youku First to Trial BlockCDNs Blockchain Content Distribution Network (CDN)

Chinese company BlockCDN are creating a bank of computing resources from crowdsourced bandwidth, offering competitive prices to content providers. BlockCDN‘s blockchain-based service has attracted the attention of Youku,  a video hosting service based in Beijing, China, who will be the first to trial it in the new year.

BlockCDN comes with a built-in trading platform, providing an online marketplace where network ‘demanders’ can input workloads and ‘Sharers’ can fulfill those workloads in return for digital currency. Anyone can join in the network by connecting their devices – Smart phones, tablets, computers – and start putting their excess capacity to work in the spirit of the shareconomy.

The CDN market today is worth $6 billion and will grow to $23.2 billion by 2021 according to MarketsandMarkets. Resources must be found to meet that demand and BlockCDN believe their model represents the future.

‘Internet use has doubled in a decade putting pressure on traditional CDN providers. Video and rich media content is gaining popularity and the rise of social and mobile media mean the consumer is demanding faster, higher quality web experiences. BlockCDN’s ‘shareconomy’ model holds the only real solution’. Tony Long, CEO, BlockCDN

Traditional CDN providers have high costs to pay for servers, bandwidth, power consumption and equipment maintenance whereas BlockCDN crowdsources its power and uses automation to drive costs down. The BlockCDN platform handles all transactions through Ethereum smart contracts and publishes them to the blockchain for transparency. The efficiencies of BlockCDN can cut up to 90% off traditional costs, savings that will be passed onto the customer.

The idea for BlockCDN was from entrepreneur Tony Long who has 15 years experience in business and already two successful companies to his name. The BlockCDN core team are seasoned CDN professionals have spent 8 years working for one of the biggest CDN companies in China. With well-developed connections in the industry and a product already in beta testing, BlockCDN are in a strong position to launch next year.

Once up and running, BlockCDN will be a blockchain-mediated ecosystem where participants control their contributions to earn a passive income. BlockCDN takes just 5% of transaction fees and passes the rest onto contributors. The system design promotes users to actively increase their node capacity, in turn improving BlockCDN’s offering. As an added incentive BlockCDN are sharing profits of 40% to early investors for the first 3 years.

BlockCDN crowdfund opens on 28th November.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
- Advertisment -

Most Popular

Latest News