LBRY CREDITS (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.io service can monetize their published material with its built-in payment system. The concept melds together the great technical advantages of both Bitcoin and BitTorrent services for people looking to share content.
LBRY is a protocol providing a fully decentralized network for the discovery, distribution, and payment of data. It utilizes the LBRY blockchain as a global namespace and database of digital content. Blockchain entries contain searchable content metadata, identities, and rights and access rules. decentralized market for all digital items and content. It provides a global and censorship resistant platform for content creators to sell their ebooks, art, music, videos etc without the need to pay a middleman. Any content that is uploaded to LBRY network remains accessible to the public as long as the community finds it valuable and continues to host it.
Founders Jeremy Kauffman and Mike Vine wanted to decentralize the way things are shared and published throughout the internet. The two believe there is no system that services the needs of individuals by rewarding the artist directly and provides no room for improvement. The traditional organizations and platforms that provide various forms of online media from books to music and film have all monopolized the state of the market, and it’s getting harder for an artist to grow in this stagnate arena. With no point of authority, LBRY’s system gives individuals control over their media instead of being subjected to rules they never agreed to.
You can buy or sell LBRY Credits at one of these: Bittrex, Poloniex, Shapeshift, Changelly, BitSquare, Cryptopia, Upbit, Coinspot, Trade by Trade, Trade Satoshi. You can also get these coins as a result of mining.
LBRY wallets are available for Windows, MacOS and Linux platforms. LBRY.io uses the Proof-of-work coin generation system and the maximum number of coins is limited to one billion.
Mining and Mining pools for LBRY
Library Credits (LBC) are mined over a 20-year Proof-of-work period. Block rewards increase every 100 blocks by 1 LBC, peak at 500, and decline slowly. LBRY mining is dominated by the GPU and FPGA market, and the company doesn't see CPU mining as economically viable at this point. If you still want to CPU mine to help the network.
On the official website of LBRY, there is a list of recommended mining pools: LBRY Community Pool, Luxor, Pool.MN, SuprNova, CoinMine, NiceHash.
LBRY Price (LBC)
LBRY Market capitalization on 10 JULY 2018: $18,857,448 USD;
LBRY Price on 10 JULY 2018: $0.112756 USD;
LBRY Credits created 400 million tokens in the genesis block, allocated between partners and charity. The remaining 600 million tokens are emitted through proof-of-work mining over the following 20 years after genesis. References: LBRY Block Rewards FAQ
See Also on BitcoinWiki
- LBRY website
- LBRY – Reddit
- LBRY BitcoinTalk
- LBRY CREDITS price and market state on Coin360
- https://news.bitcoin.com/lbry-decentralized-sharing-platform/ LBRY: The Decentralized Sharing Platform