ODYSEE - LBY credits to watch and create videos

Technology shapes in ways that we could have never imagined. And it is so true for Youtube. I remember trying to watch videos on Youtube as a kid using the dial up connection and boy, it really used to test my patience. Fast forward to today and Youtube has become a name which almost every person uses or is at the least aware of. But while there is progression, there is monopoly too. No doubt these platforms have been life shaping technologies but there is the predicament of our lives being controlled by the content that is being fed to us or being censored from us.

The question that arises then is, If this monopoly and sole dependence on such platforms is right. It certainly doesn't feel right to me and that's why I go to lesser-known places. And this journey of mine takes us to ODYSEE today.

ODYSEE is an alternative to Youtube which has the potential to become a video platform of the future. I know this is like placing your bets way too soon. But hop on to the platform and you will have some agreements and disagreements. Nothing is perfect in this world and that's why we pick up bits and pieces from everywhere to make it all worth it.

Do you want to voice your honest views without being scrutinized? Log on to ODYSEE

However, that can be its nemesis too. I think being politically correct has become the norm of time.

What is Odysee?

It is a youtube-like video hosting platform built on the LBRY network. LBRY is a blockchain-based file sharing and payment platform that uses BitTorrent technology to serve content without relying on its own servers by using peer-to-peer file-sharing.

One doesn’t need to possess any technical knowledge to operate the account on this platform.

First impression

The interface of Odysee is similar to Youtube with the added advantage of decentralization and no regulation. Yes, that is the key.

Odysee returns the power to the creators of the content, a platform that operates on the same technology as that of Bitcoin. Free from any sort of regulation and scrutiny, the data on Odysee is secure on the blockchain. It has no moderators or safety filters. The content and the channels will stay permanently on the blockchain.

However,

One of the major concerns associated with Odysee is the existence of far-right or extremist content on the platform. Although the portal has issued general guidelines on its intolerance toward harassing other users, encouraging the slander and defamation of other users, content that promotes terrorism and threatening or bullying others in videos, the freedom of speech it aims to restore could possibly work against them if such content becomes a regular feature. 

Having said that, the portal currently boasts good quality or if I may say interesting content. It has become the go-to platform for those who have been banned from youtube or have had their content censored owing to third-party interference. 

Monetization Model

Publishing videos or watching videos on the platform helps you earn LBRY credits (LBC). LBRY published LBC which you end up earning from the portal is listed on several cryptocurrency exchanges and you can cash out or trade with your earned credits. Do as you please.

Another way of generating income is when viewers tip you. If they like what they see, they can support you by tipping you in LBC.

The third way in which they plan to reward users is by giving content creators complete control over monetization (they can set a price for which users can view their video) and through advertising (but their plan on when and how is undisclosed atm).

In short,

Although Odysee claims to be attracting 8.7 million monthly users, the platform is yet to pick up momentum. It may not be as user-friendly as Youtube and that is definitely something that the team could work on. Another concern for some is that the content published once can never be erased. Now if you aren't someone who wants to leave the mark forever, be double sure before you leave something. Don't leave something that you might regret later.

What are your thoughts? Do you want to have the power to choose what you want to see? Or not? Either way, do drop a comment at the bottom to let me know what you think.

Like change? Want to support decentralisation of content?  Connect with me on Odysee using my referral get started with some free LBC credits.

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