One of the leading crypto exchanges Bitfinex has announced an open-source, peer-to-peer data streaming platform that will allow users to share media across a decentralized network. The data streaming platform called Dazaar was announced earlier this week by the crypto exchange. The crypto exchange has uploaded the code for Dazaar protocol to Github, describing a decentralized network in which distributed node operators store the information shared among users.
“Dazaar’s creation was motivated by the increasing reliance on centralized platforms.”
The crypto exchange Bitfinex stated that the data streaming platform Dazaar’s creation was motivated by the increasing reliance on centralized platforms such as search engines, social media, and messaging apps to facilitate the sharing of data and media. The crypto exchange describes Dazaar as a crypto-powered protocol for monetized data streaming. Dazaar was created as an extension to the Massachusetts Institute of Technology-licensed Hypercore Protocol — a “distributed append-only log” characterized as comprising a “lightweight blockchain crossed with BitTorrent.” The platform allows buyer and sellers to connect via a cryptographic identifier or “Dazaar Card,” with sellers able to purchase streams using crypto assets or credit cards.
The platform also offers live video streaming.
The open-source protocol Dazaar also supports a live video streaming desktop application called Dazaar Vision, Bitfinex revealed in the initial announcement. The platform’s users will be able to set up live broadcasts or subscribe to stream in real-time without signing up. Dazaar Vision operates without intermediaries as users can make or accept payments using bitcoin. However, the exchange stated that support for many more cryptocurrencies would be added soon. Earlier, the crypto exchange Bitfinex rolled out the social networking platform for its users to share information and interact with each other called Pulse. Bitfinex had claimed that Pulse is tailored to the needs of crypto traders, as it will provide its user base with the opportunity to leverage the exchange’s community to get a trading edge.