How does Filecoin support video storage?

Today, video streaming consumes 80% of internet bandwidth, said Doug Petkanics, CEO of Livepeer. Livepeer is a decentralized live video streaming infrastructure secured by the Ethereum blockchain. When combined with Filecoin and IPFS for storage and content delivery, decentralized video applications are now possible.

In the world of Web 2.0, streaming and storing video data is very expensive. Livepeer estimates that most companies pay about $3 per hour per stream to centralized cloud services, in addition to the cost of media servers and bandwidth for content delivery networks. As a result, some video streaming companies today end up folding or selling data to advertisers to make ends meet.

“Video is an increasingly important medium of communication, especially in a socially distanced world,” Petkanics said. “If you have low-cost, reliable infrastructure, like Livepeer and Filecoin, you’ll see streaming platforms for specific verticals that allow creators to improve their economics and build better relationships with their audiences, and these models are not constrained by the ad-centric business models of Web 2.0.”

At Filecoin Launch Week, Livepeer debuted file.video, a new way to upload and share videos. The application serves both as a useful tool for sharing videos today and as an open source template for any developer looking to build a web3 video application.

Livepeer is focused on live streaming, not on-demand video. Petkanics said he is excited to see the open source community building on the Livepeer protocol. BUIDL Labs is an example of a company that could leverage Livepeer’s transcoding infrastructure and Filecoin storage to create a video-on-demand product like YouTube.

Another team building on top of Livepeer is Voodfy. Developed by Leandro Barbosa, Voodfy is building decentralized tools for private video hosting. It is an all-in-one secure streaming solution that gives users full control over their content, including who can access it and how it is monetized. It uses Livepeer, Textile Powergate, and Filecoin for cold storage of videos.

"Many companies and individuals are looking to online video as a strategy to share knowledge and want to monetize it without investing a lot of effort into complex video infrastructure," Barbosa said.

“They want a reliable solution to do this in a safe, simple and secure way, and to prevent piracy. They want to be able to provide users with high-quality video content with the best viewing experience, no matter where they are.”

Barbosa's vision for web3 is open, free, and independent. "The first moment I read the slogan of Filecoin, I liked the project and the idea of ​​ending centralization and returning data to the people."

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