Blockchain Technology: "The Evolution of Modern Money Market"
The blockchain is one of the trends that every country has been developing, finding a new way on how payments can be done by means of cryptocurrency is for you to know.
This platform use is to provide a different service to anyone from anywhere and earn money as a broadcaster, this is by means of presenting a highly valuable content in different kinds of a business model type such as Pay Per Minute, Pay Per View and In-Stream Payments. This platform uses blockchain to control settlements and transactions which is using real-time communication, dealings, and tradings by the use of tokens.
There are 3 Decentralized Open Marketplaces. This is where users can actually buy and offer their services. It assured the blockchain technology to eliminate unnecessary intermediaries and censorship.
The Transcoding Marketplace
This is a marketplace where transcoders are placing their transcoding offers. It specifies the parameters like formats that they can transcode from and to. The broadcaster allocates the initial fees before they start streaming. And it also covers the cost of transcoder just in case no one joins the broadcast.
It allows relay nodes and transcoder into place and accept transmission offers.
Live Broadcast Marketplace
It allows a broadcast in multiple destinations simultaneously to a wide variety of audience from one place to another. This includes practical tutorials, workshops, conferences, open training sessions, presentation of offers, events or even TV programs. Anyone can buy access to any broadcast. relay and transcoding fees will be based on the supply and demand for that particular broadcast and other services. The open market will also shape the broadcast prices.
Limitations of Ethereum Blockchain
Being fully decentralized, an Ethereum-based system still facing some limitations but thru constant research, they find a resolution for all of this issues such as:
-The high cost of the transaction that makes micropayments impossible
-Long transaction confirmation times that make instant payments impractical
To lower the cost and confirmation time of the transactions between users, Onlive Network made a wider adoption. By using an established video connection between network users a transaction transmission layer which opens a lot of possibilities. This can make an instant transaction between their users provided with a high-level security and scalability.
Pre-ICO was launched last January 22, 2018, and was closed February 22, 2018, with the determined number of blocks after the start of sale with 30% discount on the ICO price and ended with an available token of 12,210,000 ONL. While the official ICO launching was started on March 3, 2018, and was closed April 11, 2018, with available tokens of 61,050,000 ONL. Tokens are not transferable until May 11, 2018.
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