Lightstreams ICO Review
Lightstreams’ blockchain network is built to enable the development of decentralized apps with a new level of speed, privacy and scalability.View ICO Website
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Lightstreams ICO Review & Analysis
The digital economy allows a whole new level of content creation and distribution, whether it be apps, video, music, books, podcasts, or much more. However, creators need a platform to distribute their content, and traditional centralized platforms can have issues related to performance, cost and security. Lightstreams presents a blockchain network that allows P2P storage and sharing of content, improving on issues inherent in existing centralized and decentralized platforms.
What is Lightstreams?
Lightstreams is an Ethereum-compatible blockchain network, using several new protocols that are stated to improve speed, privacy, and storage capability for DApps and more.
The project identifies limitations of current blockchain networks. The cost of storing data on the blockchain is too expensive for many, it takes a long time to upload, and once uploaded, it is hard for users to control the privacy of their data. The team points specifically to networks such as Ethereum, IOTA, EOS and Filecoin as examples that come short in providing both fast transaction throughput and full data privacy for users – two features that they claim Lightstreams will provide.
The basis of Lightstreams’ tech is their “Permissioned Blocks’ authorisation protocol. This is built to enable decentralized storage, supported by a network of contributing nodes, while using smart contracts to great a system of programmable file permissions. What this means is that peer devices all assist in hosting of content on the network, yet access to the data is still in the control of the original user. The user’s smart contract will control who can or cannot view the data; this could be through receiving payment, or any other condition set by the creator.
Lightstreams will also seek to improve scalability concerns of Ethereum’s consensus model, using the improved PoA model of the Tendermint consensus.
The Lightstreams network will use a native token known as Photon (PHT). PHT will be used as a utility on the platform, for uses such as transaction fees and purchasing access to content.
Cap for the token sale will be set at $20M, to begin in June 2018.
The Team & Roadmap
The team behind Lighstreams is quite tech-focused, as their project is. CEO Michael Smolenski is a bright development mind, with experience in software engineering for several large banks, and more recently has been very active in the blockchain community.
A prototype of the tech has already been completed, which was showcased at the Consensus Blockchain Hackathon in 2017. The team plans to launch the network infrastructure in Q3 of 2018, following token sale, aiming to achieve a decentralized self-governing model in Q4.
The tech presented by Lightstreams is intriguing, and appears to have potential to make big things possible in the world of content distribution. The only issue is that the project will need a large, active userbase to support, and it’s unclear at this stage how they will market themselves to a large audience. The team states a willingness to disrupt the control hold that platforms such as Amazon, Netflix and Spotify have over the market, but doing so could be difficult without the marketing clout these organizations posses.View ICO Website