LBRY: The Lovechild of Bitcoin, BitTorrent & Storj
You've heard about MaidSafe, Kim Dotcom's MegaNet, and maybe even IPFS. In this yet-to-launch race to “decentralize the web,” these early-stage players now have a new contender: LBRY. As web censorship problems continue, the effort to replace HTTP's client-server protocol with a superior peer-to-peer (P2P) content retrieval system is growing. What if a protocol had the monetary incentives of Bitcoin, the file sharing abilities of BitTorrent, and the storage logic of Storj? The developers of alpha-stage LBRY believe their protocol possesses just such traits. CoinTelegraph spoke to three of....
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The Securities and Exchange Commission (SEC) has filed a complaint against the blockchain-based file-sharing and payment network called Lbry last week, as the U.S. regulator has accused the company Lbry Inc. of selling unregistered securities. However, the CEO of Lbry denies the project’s native tokens are securities and says the SEC’s logic will put a number of public blockchain projects at risk. US Regulator Accuses Lbry of Selling Unregistered Securities U.S. financial regulators have filed a complaint against another blockchain project as the SEC claims the company Lbry....
LBRY, Inc., a crypto company behind a P2P digital marketplace powered by a native token, has been in a legal with the U.S. Securities and Exchange Commission (SEC). Similar to payment company Ripple, the regulator accused LBRY of illegal sales of security with the token LBRY Credits (LBC). Related Reading | Ripple Could Beat SEC? […]
The U.S. Securities and Exchange Commission (SEC) has won a court case against the blockchain-powered publishing platform LBRY. According to a New Hampshire district court ruling, Judge Paul Barbadoro agreed with SEC that the project’s native asset LBC was considered an investment contract or a transferable share representing a certificate of interest. On Twitter, LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.” U.S. Regulator Wins Judgement Against Decentralized Blockchain Platform LBRY According to court documents, the U.S.....
Although it was quickly overshadowed by more dramatic events, the LBRY case is a rare instance of a crypto-related unregistered securities complaint going to court. The United States Security Commission (SEC) won its case against blockchain-based file-sharing and payment network LBRY in district court in New Hampshire on Nov. 7 when that court decided to grant an SEC request for summary judgment filed in May. The case garnered lots of commentaries on its own and also in relation to the ongoing Ripple case.LBRY operates a digital content network. The Odysee video-sharing website is its....
Big companies like Netflix, YouTube, and iTunes maintain tight control on online content distribution, but a new cryptoapp called LBRY may well change the way information is shared on the Internet. LBRY is the first fully encrypted, open source content distribution service built on a blockchain. The platform allows users to publish material and connect directly with consumers, bypassing the middleman. A built-in credit system allows content creators to monetize their work. Jeremy Kauffman co-founded LBRY and serves as the CEO. He said Bitcoin was a major part of the inspiration behind the....