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Bit.Tube’s Airtime: Proof-of-Verification

In Alt-Coin, Cryptocurrency
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About 8 months ago I wrote about a project that I thought was worth spec mining called InterPlanetary Broadcast Coin. $IPBC was a project built to help users monetize video content while incentivizing viewers to watch content through rewards and also to allow users to utilize their right to free speech in their content. Over the past 8 months this project has grown exponentially, and it has also managed to ditch the cringe-worthy name, InterPlanteray Broadcast Coin and re-brand to a much more vernacular-friendly name: BitTube ($TUBE).  The rebrand isn’t the only thing that has changed for this innovative project, however.  The project has made a couple of Proof-of-Work algorithm changes from Cryptonight, to a custom Cryptonight-Lite variant called CN-IPBC, to the most current algorithm CN-Saber (a CN-Heavy version). But the biggest change on the $TUBE platform is the addition of Airtime.

Airtime is a very unique rewards system that will take 30% of every block reward and reward both the publishers and viewers of bit.tube.  The current block reward is 454 $TUBE with a two minute average block reward time which comes out to approximately 720 blocks per day. The 30% of allotted $TUBE will be distributed as follows: 70% to the video publishers (68,644 $TUBE), 20 % to the viewers (19,612 $TUBE), 5% for maintenance & development (4,903 $TUBE), and 5% marketing, fees for listings, and airdrops (4,903 $TUBE).

The $TUBE platform is built for content owners, thus they get majority of the revenue.  It is up to the publisher to create content that viewers want to watch because they will be paid based of the performance of their content.  Viewers play an important role in Airtime because the device that the viewer uses to watch the content “donates” a minimal amount of hashing power (1-5% CPU) to verify their watching time.  The method in which they verify their watch time is called Proof-of-Verification. The 20%  of $TUBE designated for the viewers is proportionally distributed to each viewer based on the amount of time they watch content on the bit.tube site.  Simply put, watch a lot of content and earn a lot of $TUBE.  Payouts to both viewers and content owners occur 7 days after the $TUBE was earned.

Airtime began on block 140,000 which occurred in early August.  In the short time that Airtime has been active there has been many users trying to “cheat” the system by leaving their device running or watching their own videos.  Regardless, the $TUBE team has been extremely active in helping to alleviate any abusers.

I have been using bit.tube both as a viewer and content provider and it has been extremely rewarding.  From a viewer standpoint, there is a ton of content and I have taken advantage of the of the crypto content that is available.  From content provider standpoint, I can easily upload content and effortlessly earn $TUBE.  This can easily become another stream of income to add on to my mining and masternode income!  Here are my stats as of 8/21/2018:

Make sure to give me a follow on twitter @CoachCryptos and Happy Tubing!

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