LBRY is a cryptocurrency. As of 12th June 2017, the circulating supply was 167,241,196 LBC.
LBRY is a sharing platform that uses Blockchain technology to enable users to publish material and get paid for doing so. People using LBRY’s service can monetize their published material with its built-in payment system. The concept melds together the technical advantages of both Bitcoin and BitTorrent services for people looking to share content.
How Does LBRY Work
LBRY service module helps users source relevant digital content. Additionally, this platform also allows for the implementation of customized search features, making data acquisition highly streamlined. Not only that, owing to the use of Metadata, all content is cataloged and stored in a very efficient and secure manner.
LBRY takes into consideration featured data which is distributed through special channels that enhance overall data flow within the Ecosystem.
From a distribution standpoint, LBRY uses a P2P model in lieu of a server-client model, which greatly improves financial transparency. In addition, content can come from a wide range of sources and cannot be stifled or controlled by any third-party organization or user.
All internal transactions are governed by a native currency called LBRY Credits. These tokens are used to maintain balances internally and settle a smaller number of transactions to the core chain.
LBRY Credits consists of a fifteen -member core team and four consultants, who are supposed to bring different competencies and enrich the team.
Founders include Jeremy Kauffman in the CEO’s position, and he also founded TopScore, a successful start-up processing event and activity registrations. LBRY is primarily based in Manchester, New Hampshire.
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