sCrypt, an on-chain smart contracting solutions company, published a Medium article this week on how to facilitate streaming services using the Bitcoin protocol. This begs the question—will streaming giants like Netflix, HBO Max, Hulu and YouTube Red leverage Bitcoin in the future to power their streaming services?
The article demonstrates a cost-efficient way to provide video streaming and other types of services on demand. It is based on a Bitcoin mechanism called payment channel using malleability—or the ability to modify a transaction without invalidating it—on a script level as a feature, not as a bug.
Unlike Netflix, streaming services via the Bitcoin protocol allows users to only pay for parts of the video they have watched. It also has a low transaction cost and sign-up is not required.
All these are possible on Bitcoin SV, the world’s largest public blockchain by all major utility metrics—data storage and daily transaction volume, scaling ability, and average block size.
Meanwhile, BTC Core developers are leaving the group one by one.
Developer John Newberry and code maintainer Samuel Dobson announced they are stepping down from their roles as fiduciaries of the BTC protocol just a few days apart. The move comes after the departure of another key technical personality in the group Jonas Schnelli, who left the project in October.
Newbery also announced he is stepping away from other BTC-related projects such as development support group Brink, where he is the director, and “handed the reins over Bitcoin Optech and the Bitcoin Core PR Review Club.”
Incidentally, the departures took place in the wake of Craig Wright’s civil litigation concluding in Miami.
Schnelli had openly cited growing legal pressures as a reason for leaving the centralized BTC Core protocol developers group. However, Newbery tweeted that his decision has nothing to do with Dr. Wright.
BTC Core developers are a group that acts as fiduciaries over the blockchain network. They are responsible for the upkeep of the reference protocol that drives BTC, which is the largest digital currency by trade volume and market cap in the world.
In other news, BitcoinSV.com relaunches as your one-stop hub for all things BSV.
Switzerland-based nonprofit industry organization Bitcoin Association recently announced the relaunch of the BSV hub. Serving as the main repository of information on Bitcoin SV, the website welcomes beginners to seasoned developers to high level introductions to Bitcoin, technical details of the protocol, and more info on how to get started building apps on the blockchain. Visit bitcoinsv.com to learn more.
While you’re at it, check out the Hashing It Out year-ender with Becky Liggero, where she sat down with Paul Foster of Crucial Compliance. Foster talked about his company’s integration with nChain’s data time-stamping Kensei solution for data integrity. Watch the full episode on the CoinGeek YouTube channel.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.