YouNow embraces blockchain tech, opens PROPS Ecosystem to decentralized storage
YouNow, the global video platform that pioneered mobile live streaming, today announced a partnership with Storj Labs, the leading decentralized cloud storage provider, to further align the PROPS by YouNow ecosystem with the decentralized community. YouNow recently announced the PROPS Ecosystem, a group of media applications powered by a new cryptocurrency, PROPS. Storj will provide decentralized cloud storage services for terabytes of video files generated from YouNow’s 40 million registered users.
YouNow joins the droves of data-rich organizations engaging with alternative storage solutions to further secure valuable data. Storj, a solution that encrypts, shreds, and distributes data shards across a global network of nodes, will provide an additional layer of security for PROPS content. Storj’s vast decentralized network deters security breaches, ensuring PROPS and YouNow users are able to safely engage in an elevated live streaming and content sharing experience.
YouNow CEO Adi Sideman said, “Our partnership with Storj marks the commencement of our path to decentralize as much of the PROPS technology stack as practically makes sense, provided good performance, scalability needs and costs efficiencies are superior. We expect a long-term partnership between our mass market blockchain-powered platforms, PROPS and Storj.”
“One of the biggest benefits to decentralization is it empowers users by giving them control of the content and data they create, which is at the heart of YouNow’s mission,” said John Quinn, Storj Labs co-founder, and chief revenue officer. “YouNow is a true innovator and breakthrough pioneer in the live streaming revolution; their unique technology will take the mobile video experience to another level and we look forward to supporting them in their adoption of blockchain technology.”
Developers, including Storj’s own community, will be able to share in the launch and population of the PROPS ecosystem by building apps on PROPS. This partnership signals YouNow’s commitment to providing a secure and decentralized canvas for custom use cases by leveraging the Storj network’s inherent security benefits over legacy solutions. The first application hosted on the PROPS Ecosystem, Rize, will elevate the mobile video experience and be available for download upon Token Distribution to the public.
For more information, please visit PROPSProject.com and to learn more about Storj Labs, see storj.io.
YouNow is a live social network that enables audiences and creators to connect in real time and is devoted to the unlimited potential of human creativity. The interactive entertainment platform has over 40 million registered users and 60,000 transactions per day in its digital goods economy. YouNow is committed to creating a community that is a safe place where people can meet, get together and connect. YouNow is backed by Union Square Ventures, Venrock, Ze’ev Ventures and Comcast Ventures.
The PROPS Ecosystem, governed by a non-profit foundation, is built on the mission of creating a decentralized model for digital media that uses blockchain technology to fairly reward the contributors that power the network. PROPS will be hosted on the Ethereum blockchain and serve as the base utility token for applications within the ecosystem, granting users access to features and content, ability to promote content and signal status within the community, among other uses. Third party application developers, content creators, publishers, and end-users will be incentivized to participate in the Ecosystem by earning PROPS.
Storj Labs provides decentralized cloud storage and gives users more control over their devices and data providing an open-source cloud platform: Storj. The company aims to become the largest, most innovative, cost-effective, and high-performance cloud storage provider by utilizing spare hard drive space provided by its community members.