Dazaar, how the internet should be – open, free and hyper scalable
With more than 4.6 billion internet users in the world as of May 2020 and around 2.5 quintillion bytes of information being produced daily, data is indeed changing the world we’re living in today. Most of this information is created on centralised platforms, such as search engines, social media and messaging apps, that rely heavily on central servers to keep and process incoming requests.
On the other hand, the peer-to-peer (P2P) network offers a decentralised system without relying on a central server to save all the data. Each of the distributed nodes on the P2P network can store information; thus, it is capable of responding whenever requests come up within a short time.
Bitfinex sees an opportunity to give back to the community by giving back the power to control their data, including the ability to share and access any information conveniently.
We believe that the best innovation of tomorrow will come from open, collaborative environments that unlock the wealth of available data.
Dazaar is an open-source P2P protocol for data streaming. It is built to empower information sharing by enabling access for everyone.
Dazaar is developed as an extension to the Hypercore Protocol, which means, it’s scalable, fast and peer-to-peer.
What differentiates Dazaar from other data sharing networks is that we focus on providing a base hyper-scalable, decentralized and privacy-oriented protocol that can be implemented in any existing project making it ready for the peer-to-peer internet. We also understand how important it is for users to monetize their data without intermediaries, and that’s why Dazaar integrates a layer to enable time-based micro-payments via any (crypto) currency. The interaction will be purely between “sellers” and “buyers”.
How it works on Dazaar is very straightforward:
- For sellers:
- Install Dazaar.
- Choose the payment method, for example, 10000 Satoshi/minute.
- Dazaar will then generate a cryptographic identifier, called the Dazaar Card, which the seller can put anywhere they want for the buyers to discover, such as a Telegram group.
- For buyers:
- Connect with the seller using the info on Dazaar Card.
- Pay the fee.
- Receive the data in streams after the seller verifies the payment.
Aside from simplicity, Dazaar also offers flexibility when it comes to payment methods. It supports any cryptocurrency as payment and potentially even credit cards. We believe not only will it encourage more people to use Dazaar, but also introduce those unfamiliar to the world of cryptocurrency at the same time as it removes a barrier to entry which requires users to only use a project’s platform token for payments.
Dazaar Vision – Live video streaming monetisation made easy
To demonstrate the power of Dazaar, we’ve also developed Dazaar Vision – a live video-streaming desktop application built on top of the Dazaar open-source protocol. It allows anyone to set up live broadcasts and subscriptions, all P2P and in real-time, without signing up required.
As it is powered by Dazaar, it also comes with the easy-monetisation middlemen-free feature allowing users to accept payments in Bitcoin with many more cryptocurrencies to be added in the near future.
Our way to give back to the community
It has been Bitfinex’s desire to be able to give back to the community by doing what we do best – building innovative products for people to use and get the most of.
We’re convinced that Dazaar will be a useful tool for organisations, such as universities to create and promote new projects and research to the public. At the same time, we also believe that Dazaar’s use cases are not limited to certain parties.
We welcome anyone or any parties who are interested in utilising new technology to get the most out of their data.
Welcome to Dazaar, the internet how it should be. Launching on 25th June 2020.