LBRY uses a blockchain to store metadata related to digital content and a pointer to a Bittorrent-like data network, which stores the content itself. The blockchain also provides publisher identities, human-friendly URLs (e.g. lbry://@MinutePhysics/magnetic-levitation), and a payment mechanism.
Today we're releasing https://lbry.tech/spec, a detailed technical description of the protocol.
Unlike most blockchain companies, we did no ICO, no token sales to VCs, and have spent zero energy hyping or pumping the price of our coin.
Nonetheless, we were able to bank several million dollars at the peak of the cryptocurrency boom (we provide full transparency at https://lbry.io/credit-reports).
Our questions are:
- Do you see this as a promising use of blockchain?
- Does https://lbry.tech/spec provide a clear and thorough description of what LBRY is?
- How can we make LBRY better?