Odysee is a video sharing platform created by CEO Jeremy Kauffman, designed to compete directly with YouTube. Only officially launching out of its beta version last week, but has grown quite popular each day as a result of YouTube removing or censoring channels, videos and comments it deems as unsavoury.
What makes Odysee different from YouTube is its decentralized nature, which makes its censorship resistance and a true home for free speech. Originally Kauffman created LBRY (Pronounced Library) a blockchain-enabled video market place where users could earn the crypto token LBRY Credits (LBC) for works published, but a conflict between the user experience and the general nature of LBRY led to the creation of Odysee.
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Odysee is a client of LBRY working over its framework, meaning certain features of LBRY are carried over to Odysee but allows for a more user-centric experience. According to Kauffman, it’s the best of both worlds Odysee is the YouTube competitor which will aim to match YouTube’s strength in video publishing. While LBRY forms the backbone that will protect users against censorship and de-platforming.
The token LBRY Credits (LBC) will be how users are rewarded for using the platform. The one thing YouTube has over most of its competitors is the ability for content creators to earn an income from publishing content. YouTubers publish content, which then YouTube runs ads over, a percentage of which are then used to remunerate its creators (this is called monetization). YouTube also earns a majority of its income from these advertisements run on its platform.
YouTube in recent months has pushed for the videos to show more ads even when some of its creators don’t qualify for its monetization program, meaning YouTube can earn from the content published while its creators don’t. These changes and more has encouraged many of its content creators to search out for other alternative platforms which are less restrictive and can also earn them some sort of income.
Odysee has positioned itself perfectly as it meets many YouTubers requirements, right now the only thing holding Odysee back is the lack of awareness of the platform and the confusing nature of blockchain and cryptocurrencies. Kauffman has said, he aims for future users of Odysee to not know anything about blockchain but still gain the full benefits from using both Odysee and LBRY and its Token LBC.