Car Factory
  • Uday Sirohi

Blockchain for Media Streaming


 

Table of Contents:

 

What is Media Streaming and Blockchain?


Within the last decade, multimedia, in general, and video streaming, in particular, have revolutionized the way we consume information and keep ourselves engaged. Video-streaming services are increasingly being used, thanks to recent streaming-video-on-demand services such as Netflix, YouTube, and Amazon Prime Video, which are overtaking traditional TV broadcast services in the United States. Furthermore, live-gaming video-streaming services such as Twitch and YouTube Gaming have also seen tremendous growth. Twitch alone ranks as the fourth-highest peak Internet traffic generator in the United States, with nearly one million concurrent users.


Now talking about blockchain technology, it is a digital list of records, that is, blocks linked together using cryptographic algorithms. It gained a lot of attention with the introduction and high popularity of Bitcoin, a cryptocurrency based on blockchain. Its property of resistance to modification makes it a prospective and highly disruptive technology across a wide range of industries. Some of the significant advantages offered by blockchain include faster and more secure transactions, transparency, cost-effectiveness (due to the absence of middlemen), traceability, automated actions using smart contracts, and cryptographically sealed protected data, providing security and privacy.


Use of Blockchain in Media Streaming


Blockchain technology has the potential to assist the media streaming industry significantly. The key characteristics of blockchain's shared ledger system can assist media streaming by providing transparency, trust, efficiency, speed, security, and control for all points in a transaction process across the media supply chain.


This is particularly important in the delivery, consumption, and payment of media content and in advertising. Furthermore, blockchain can aid in the prevention of ad fraud (such as clicks performed by bots rather than humans) and copyright infringement. Media streaming firms that start developing a blockchain solution today have a chance to go ahead of the competition. Blockchain technology offers a wide range of opportunities, some of which are discussed below:

  • Empowering Creators and Artists Blockchain - Content-ownership rights are retained, and providers are free to determine the terms of use, audience, pricing, licensing, and so on. Micropayments and instant payments are based on automated smart contracts to decrease delays. Enormous third-party fees (approximately 50% for Twitch and 25% for Uber) are bypassed. The transparent system makes it impossible to lie and cheat about actual revenue, resulting in a fair and efficient process.

  • Blockchain-based CDNs - These utilize unused storage space across multiple locations by employing decentralized networks. The last-mile problem of content delivery is alleviated.

  • Privacy - Violations/illegal use of personal data by big corporations (such as Facebook) are prevented. While maintaining anonymity, QoE prediction models and customized solutions, such as recommendations, can be supplied. Advertisements can be targeted while ensuring that the privacy of users is not jeopardized.

  • Piracy - This is one of the biggest challenges in the field of media streaming. Illegal copying can be tracked since the conten