Crypto Exchange Bitfinex Creates Decentralized Content Marketplacebr>
Crypto trading platform Bitfinex has created a peer-to-peer network for content creators, enabling users to tap into an ecosystem to monetize ideas and data.
Called Dazaar, the new peer-to-peer network enables individuals and organizations to monetize ideas and data by reaching an audience without having to rely upon a trusted third party. Dazaar Vision, an application of open-source protocol Dazaar, means content creators will be able to instantly build a marketplace, create video content and livestream directly to an audience, via an open source, hyper-scalable protocol for data streams.
The inception of Dazaar was born out of the idea of offering universities new opportunities to monetize research. Universities have in the past often lost out to middlemen who successfully monetize the data produced by academic research. Dazaar also anticipates a ready demand among participants in the nascent decentralized finance (DeFi) space. Market data providers serving hedge funds and professional traders will also be able to use the platform to offer services such as trading signals.
“We believe Dazaar represents what the Internet should be, open, free and hyper-scalable,” said Paolo Ardoino, a lead developer at Dazaar. “All parties involved are proud of this community effort and we look forward to the use of this technology evolving in ways to the great benefit of society. Adoption will be driven by a growing awareness among users that the current incarnation of the internet is centralized, lacks privacy and is in the hands of the few.”
Dazaar’s cryptocurrency agnostic model will alllow developers and users to add support for a variety of different types of payment methods, including Bitcoin, Ethereum, the Lightning Network, ERC20 tokens and credit and debit cards via payment gateways. Its open source model, on the other hand, will facilitate the seamless addition of projects by its user base.