Chinese video player Youku to trial BlockCDNs blockchain content distribution network for the first time

Baozou Comment : With the rise of social and mobile media, video and media content are becoming more and more popular, so consumers need faster and higher-quality network experience. China BlockCDN's blockchain-based services provide a "sharing economy model" that can subvert traditional CDN suppliers. Not only can it provide better services, but it can also reduce costs by 90%, and consumers can directly benefit from this.

Translation: Nicole

Chinese company BlockCDN is creating a computing resource pool from crowdsourced bandwidth to offer competitive prices to content providers. BlockCDN’s blockchain-based service has already attracted the attention of Youku, a video hosting service in Beijing, China, who will try the service for the first time in the new year.

BlockCDN will have a built-in trading platform that provides an online market where network 'demanders' can enter workloads and 'sharers' can meet these workloads in exchange for digital currency. Anyone can join the network by connecting their devices - smartphones, tablets and computers - and then put their excess capacity into it in the spirit of the sharing economy.

According to MarketsandMarkets, the CDN market is now worth $6 billion and will grow to $23.2 billion by 2021. Resources must be found to meet this demand, and BlockCDN believes they represent the model of the future.

Tony Long, CEO of BlockCDN, said:

“Internet usage has doubled in the past decade, putting pressure on traditional CDN providers. The growing popularity of video and large amounts of media content, and the rise of social and mobile media mean that consumers demand faster, higher quality web experiences. BlockCDN’s ‘sharing economy model’ is the only real solution.”

Traditional CDN providers need to pay high costs to pay for servers, bandwidth, power consumption and equipment maintenance, while BlockCDN crowdsources its functions and uses automation to reduce costs. The BlockCDN platform processes all transactions through Ethereum smart contracts and publishes them on the blockchain to increase transparency. BlockCDN's efficiency can reduce traditional costs by 90%, and this part of the cost savings can directly benefit consumers.

The idea of ​​BlockCDN comes from entrepreneur Tony Long, who has 15 years of business experience and has two successful companies. The core team of BlockCDN is experienced CDN professionals who have worked in the largest CDN company in China for 8 years. Through careful development within the industry and the product has been beta tested, BlockCDN is expected to be officially launched next year.

Once officially up and running, BlockCDN will be a blockchain-mediated ecosystem where participants control the work they contribute to earn passive income. BlockCDN only charges 5% of transaction fees, and the rest goes to contributors. The system design encourages users to actively increase their node capacity, which can improve BlockCDN's products. As an additional incentive, BlockCDN shares 40% of profits for early investors in the first 3 years.

The BlockCDN crowdfunding started on November 28th.