YouTube has dominated the online video-sharing domain for as long as the platform has been around. YouTube does not appear to be losing any popularity despite the issues surrounding a centralized platform but the blockchain technology may soon pose a threat to its dominance. The blockchain technology has numerous uses and its decentralization is applicable to almost every field. Verasity is a project that is aiming to disrupt the dominance of YouTube over video sharing. In this guide, we will discuss more about the project and how it has the potential to become the YouTube of the blockchain.
What is Verasity?
Verasity is a next generation video streaming platform based on the blockchain technology. The project combines the offerings of traditional video sharing platforms with the innovation of decentralization. Verasity has features like crowdfunding, advertising, subscription and on-demand videos like any other traditional video sharing platform; however, through the blockchain technology, it completely eliminates the need of intermediaries. Functioning without intermediaries ensure that content creators and viewers reap the most benefits.
Verasity has an advanced video player technology that enables it to support a staggeringly high amount of data. The native token, Vera, is used to facilitate transactions between content creators and viewers. Content creators earn money through subscription, donations by viewers and pay-per-view basis. Content viewers are paid for watching and sharing content and watching ads earn them money directly from advertisers. The platform has also integrated a wallet in order to facilitate seamless transactions between both the agents.
Verasity also tackles some of the problems of video sharing platforms like fake views and manipulation of metrics. The Proof-of-View consensus mechanism ensures the highest standards for the platform.
Future outlook
Verasity has been gaining traction in the recent timeframes. The project has strong fundamentals and has entered the watchful eyes of investors. The cryptocurrency was the third best performing cryptocurrency on Ethereum’s blockchain in terms of price. Moreover, it also landed in the top ten cryptocurrencies with the most mentions on Twitter. Verasity was able to record a new all-time high at $0.066 in the past week amidst the surging performance.
Currently, the cryptocurrency stands at a price level of $0.059. The upward trend appears to have been broken and market corrections are likely. However, the future of VRA token looks promising. According to the estimates of Wallet Investor, the cryptocurrency is expected to operate at a price level of $0.086 in a year’s time while the five-year projection places it at $0.21.
