Joystream is an innovative blockchain-based platform designed to revolutionize the way we interact with content creation, distribution, and governance. In simple terms, Joystream combines blockchain technology with a user-owned and operated video platform to create a new ecosystem for creators and consumers. The project was created by an experienced team at Jsgenesis and was introduced in 2021.
Joystream is designed to serve all parties involved in content creation and content consuming. It has the following components:
- Open Blockchain: Joystream operates on its own blockchain, custom-built for a social video platform. This blockchain uses a Proof of Stake (PoS) consensus mechanism, making it energy-efficient and sustainable.
- Content Delivery: Content is delivered on-demand through a Content Delivery Network (CDN) operated by the DAO (Decentralized Autonomous Organization). The DAO is a governing body formed by token holders who periodically select a council to vote on network management proposals.
- Open Social Graph: Joystream maintains an open and fully public social graph. This includes profiles, channels, content, assets, and metadata, making it accessible for everyone to publish to and read.
- Video NFTs: Video content is tokenized as NFTs (Non-Fungible Tokens) and can be sold through auctions or peer-to-peer transactions. Creators receive on-chain royalties for their content.
- Content Storage: Large data assets, such as videos and images, are stored in infrastructure operated and funded by the DAO.
- Creator Tokens: Each content channel has its own dedicated fungible token, representing a claim on the creator's revenue. Creators can issue, sell, or give away these tokens to their audience.
The native token, JOY, plays a central role in governing the network, securing it, and granting access to network services and block space. JOY tokens are minted and burned through various network activities, including validator rewards, council payments, creator rewards, and application fees.
JOY's total supply: 1,021,603,648
JOY's circulating supply: 672,749,977
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