Bitfinex P2P Data Streaming Platform to Go Live Tomorrow
Cryptocurrency, News

Bitfinex P2P Data Streaming Platform to Go Live Tomorrow

The Hong Kong-based crypto exchange giant, Bitfinex has announced that it is launching, an open-source, P2P protocol for data streaming. Dubbed “Dazaar”, the protocol is built to empower information sharing by enabling access for everyone.

According to the announcement, Dazaar is developed as an extension to the Hypercore Protocol, making it scalable, fast and P2P. Dazaar is focused on providing a base hyper-scalable, decentralized and privacy-oriented protocol that can be implemented in any existing project, making it ready for the P2P internet. 

Furthermore, the protocol also integrates a layer to enable time-based micro-payments through any cryptocurrency. Per the announcement, the interactions on the platform will be purely between “sellers” and “buyers”.

All that a seller has to do is to install Dazaar and choose the preferred payment method. From there, Dazaar will then automatically generate a cryptographic identifier called the Dazaar Card, which the seller can post in places such as Telegram groups, for the buyers to discover. A buyer will then connect with the seller using information on the Dazaar Card. The buyer then pays the fee, after which the data in streams is received following payment verification from the seller. 

Dazaar also offers payment flexibility by supporting all kinds of crypto payments and potentially even credit cards. This is to encourage more people to use the protocol and also introduce those who are not crypto-friendly. 

The team has also developed Dazaar Vision, a live video-streaming desktop application built on top of the Dazaar open-source protocol. This application allows users to set up live broadcasts and subscriptions, all P2P and in real-time, without signing up required. Aside being powered by Dazaar, it also comes with the easy-monetisation middlemen-free feature which allows users to accept payments in BTC.

According to the announcement, Dazaar will be going live tomorrow June 25, 2020.

coinmag

Born, raised and schooled in Sweden with a degree in law, Glenn is a long time crypto enthusiast. He quickly acknowledged the potential of the blockchain technology, and the benefits of decentralization. Glenn believes in a future where blockchain technology and decentralization will govern and enable people to have a transparent security and financial system.