Live Streaming has been an innovative way for people to connect in both business and social causes. It gives a unique and more immersive experience as people communicate with each other. And with the global lockdown as a result of the COVID-19 pandemic, a huge boost to virtual events was recorded with virtual conferencing companies like Zoom recording rise in stock prices. People had to find ways to connect with families, friends, business associates, and anyone of interest without touching or physically being others in the same place.
As the world shut down, businesses had to make use of video streaming or conferencing platforms to connect and market their products and services. The market has been forecast to reach $4.26 billion by 2028. But there’s also more that can be done in this market: blockchain can deliver more value for the live streaming industry. This is where the StreamCoin blockchain comes in.
What is StreamCoin Blockchain?
StreamCoin is a cryptocurrency designed to run on the StreamCoin blockchain though currently on Binance Smart Chain. The blockchain is dedicated to creating a connection between streamers and viewers without any third-party alliance.
Any platform that uses this blockchain will open a new ecosystem where users can easily send donations or pay for the streaming services they use in crypto. These operations will be done in a fast, secured, and transparent network. So with the StreamCoin network, peer-to-peer interactions can exist between users and streamers.
Features of the StreamCoin Blockchain
StreamCoin blockchain is governed by StreamCoin (STRM), a BEP-20 token (currently), which is the native currency of the StreamCoin blockchain and will use the Proof of Stake Authority (PoSA) consensus algorithm, a hybrid of Delegated Proof of Stake and Proof of Authority.
This protocol gives the blockchain a unique advantage of being fast and will require cheap transaction fees. STRM will have a total supply of 4,520,000,000 tokens and will allow cross-chain swap between StreamCoin blockchain and other networks like Fantom, Avalanche, Binance Smart Chain, Polygon, and Ethereum.
On its allocation, Private Sale, Public Sale, Ecosystem and Marketing, Company Allocation, and Advisors & Partners will take 38.94%, 11.06%, 11.06%, 29.2%, and 9.73% respectively.
GaStream (GSTRM) is the secondary native token for the StreamCoin network. It is also built using the BEP-20 token standard on the Binance Smart Chain (BSC) and will serve as a utility token to support StreamCoin.
GaStream will be used to pay for gas fees and node forming rewards when Stream chain (Mainnet 2.0) is launched. The initial total supply of the token is 16,950,000,000, and will be distributed as follows: 66.66% for public sale; 33.33% for future rewards like yield farming, watching ads on MeiTalk, real research surveys, and node forming on Stream chain.
MeiTalk is a platform that is designed to provide multi-streaming services on blockchain. It has three layers: MeiTalk Service Layer, MeiTalk Streaming Encoding Layer, and MeiTalk Blockchain Layer. In the MeiTalk ecosystem, StreamCoin will be used to carry out all activities.
With MeiTalk, users can connect with as many live-streaming platforms as possible, comment and engage with live streamers, earn StreamCoin (STRM) by watching ads and reward favorite streamers with StreamCoin (STRM).
Streamers who use the MeiTalk platform can also simulcast from MeiTalk to platforms like YouTube, Kuaishou, Twitch, AfreecaTV etc, reach and engage fans with special filters, earn StreamCoin (STRM) rewards, create multilingual subtitles for their content, mint their videos and upload to the NFT marketplace for sale and much more.
With MeiTalk Wallet, users, as well as steamers, can store and have access to their tokens on the MeiTalk platform. MeiTalk wallet is the exclusive digital wallet of the platform adapted for StreamCoin (STRM).
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Challenges and Road Map of StreamCoin and MeiTalk
Streaming with blockchain networks is an innovative idea and has a huge market to cover since the streaming industry has shown big numbers in terms of value. For the StreamCoin ecosystem, the challenge will be to drive adoption for users and streamers who are not aware of the advantages of blockchain.
Another challenge will be for forthcoming networks that will be created like the StreamCoin blockchain. There are a lot of projects being released daily in the blockchain space and no one has it all because it is still evolving. The same kind of challenge applies to the MeiTalk platform as well. Although, the collaboration between StreamCoin blockchain and the MeiTalk platform is a sign that the organizations understand how the industry functions.
For the MeiTalk and StreamCoin platform, 2021 was about R&D, the launch of the StreamCoin website, a brand awareness campaign, and partnerships with more live streaming platforms.
2022 is focused on StreamCoin partnership with Real Research App, the launch of Public Sale (ICO), GSTRM, NFT marketplace and Alpha version of MeiTalk; listings on exchanges; desktop and mobile version of MeiTalk…
MeiTalk global services, Stream Chain (Mainnet 1.0), and Blockchain Solution API for online streaming platforms will be the aim for 2022 development.
StreamCoin is made of a global team with diverse tools and skills focused on giving the world a platform that will transform the live-streaming industry.
StreamCoin blockchain and MeiTalk is a good collaboration that is closing a perceived gap in the world. Creators and users in the streaming industry will have a new tool to connect and enjoy the features of DeFi. With this collaboration, anyone can stream and earn as well as watch and earn.
What do you think of this article? Share your comments below.
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