Dear Crypto Enthusiasts,
Today, we’re eager to share insights from our deep dive into Joystream, an emerging powerhouse in the crypto space.
Having roots in computational neuroscience, our interviewee’s journey into the crypto world began post-PhD, where they pursued building computer systems inspired by brain principles. This passion quickly translated into exploring the expansive potential of blockchain technology for data transfer and eventually culminated in establishing a full-stack media platform.
Why Joystream?
Choosing to build on Substrate within the Polkadot ecosystem was not a mere whim. This choice was driven by the desire for a platform that offers flexibility and performance. Compared to Ethereum or Cosmos, Substrate stood out, especially considering the grand vision of constructing an ecosystem of applications driven by a shared data pool.
Furthermore, Joystream and Library were both mentioned in our exploration of decentralized platforms. However, Joystream showcases advanced technology with features that set it apart, including governance, infrastructure funding, and native data storage. Designed uniquely appealing to content creators, it champions an efficient model, aligning viewers with resonating content.
Empowering Creators and Enthusiasts
Joystream is for more than just the tech-savvy. With platforms like Glee XYZ, even non-developers can migrate their YouTube content to Joystream, earning Joy Tokens. The platform’s innovative approach allows for dynamic monetization avenues, from selling Video NFTs to issuing Creator tokens, which enable revenue sharing with the audience.
Our conversation emphasized the significance of governance in the Joystream ecosystem, reflecting their approach as a Decentralized Autonomous Organization (DAO). The launch of Joystream was backed by VC funding, and they’ve displayed transparency by offering on-chain data and growth metrics accessible via a community dashboard.
Join the Revolution
For those inspired by the decentralization movement, Joystream presents a world of opportunities. Their call to action particularly moved us. Whether you’re a content creator or possess skills that could benefit the platform, Joystream’s doors (and Discord) are open.
Our session wrapped up with mentions of research reports, code reviews, and a heartfelt thank you. And while this summary only scratches the surface, we wholeheartedly encourage you to delve deeper into Joystream and the promising future of decentralized media.
Thank you for joining us on this exploration, and as always, stay tuned for more insightful content.
Warm regards,
Token Metrics Team
