“It only works on BSV,” Ben Wung tells CoinGeek TV on the sidelines of the London Blockchain Conference. In his interview, he talked about migrating his livestreaming platform from Ethereum to BSV blockchain and what the Bitcoin ecosystem needs to leap ahead of its rivals.
Wung knew years ago that blockchain would disrupt livestreaming, and he set out to build Haura, a platform he believed would do just that. He first deployed it on Ethereum, but the scaling bottlenecks soon caught up with him. He then explored Layer 2 networks like Polygon, and while they worked for some time, the same limitations came up again.
On Layer 2 networks, he says that when it comes to execution, “they fail. They get really congested, and a lot of transactions don’t go through.”
He then discovered BSV blockchain and has been building on the massively scaling network since.
Wung noted that the BSV blockchain ecosystem had grown significantly over the past few years. In the past, developers chose to build on other networks as they had easy-to-use tools that enabled these developers to deploy apps in days. However, BSV blockchain now has its own set of tools for every other need.
“One example would be HandCash: their documentation is so good that our team was able to build something within a day.”
This ease of use must be reflected in the apps as well. This, Wung says, is the only way we can attract millions of users. ChatGPT was able to bring in 100 million users in record time because it didn’t require a learning curve to use it, he noted.
Wung built Haura to solve some of the pain points of the livestreaming industry. Aside from allowing users to tip content creators through BSV micropayments, viewers can also mint moments on livestreams as non-fungible tokens (NFTs), which gain value depending on the context.
The NFTs are minted on 1Sat Ordinals, a protocol that has gained a massive following since it launched a few months ago.
“The vision behind it [1Sat Ordinals] resonates with us. They believe in an open protocol rather than having an environment where we all compete against each other. We’re better off just working together.”
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