Exchange Joystream (JOY) at the Best Rates

Joystream Crytpo: Innovative Way to Create and Monetize Your Content

Joystream is a platform that allows users to monetize their content and bandwidth on the blockchain. It is constructed on top of the Bitcoin SV (BSV) blockchain, which offers an unchangeable, safe transaction ledger. With Joystream, users can start their own podcasts, live streaming, and video-on-demand (VOD) services. In addition, users might receive incentives for offering bandwidth or storage for the content of other users. In addition, the platform provides content creators with tools for channel management and revenue generation. Let’s take a closer look at Joystream crypto and the project’s characteristics.

Joystream (JOY) Overview

Joystream is a cryptocurrency launched in 2020. In essence, it is a video platform protocol with the following features: 

1. Open blockchain. An application specific L1 PoS blockchain custom built for a social video platform. 

2. Open social graph. All profiles, channels, content, assets and metadata, fully public and indexed, available for everyone to publish to and read. 

3. Content storage. Large data assets, like videos and images, are stored in infrastructure paid for and operated by the DAO. 

4. Content delivery. Content is delivered on demand through a CDN paid for and operated by the DAO. 

5. Video NFTs. One-of-one NFTs for videos sold through auctions and peer-to-peer transactions, with on-chain creator royalties. 

6. Creator tokens. Dedicated fungible token for each channel with a claim on the revenue of the creator. 

7. A DAO. Token holders periodically select a council which votes on proposals to manage the network.

Within the platform, payments to creators made by the council based on policies it decides to enact are known as creator rewards. The council is free to select any policy at any time that they feel best suits the objectives and limitations of the network. For instance, they may opt to pay certain authors a fixed fee or others according to how much they use their apps.

These payments are made by minting new tokens for the network as a whole. These tokens are subject to the council's regular spending restrictions, just like any other expense, like paying contributors, validators, or other spending requests. In addition to this, Joystream also has NFTs integrated into its platform and lets its users sell and own them. The blockchain has also been audited by two leading security auditing firms for Substrate based blockchains, SRLabs and Quarkslab.

$JOY Token

The native token JOY is used to govern and keep the network secure, and pay for access to network services and block space. In a similar fashion to Polkadot, Joystream also allows users to stake JOY. So that means users are eligible for staking rewards in exchange for a nomination to validators. Validators are responsible for verifying the validity of new blocks, proposing new blocks, and participating in the consensus process to add blocks to the chain. In other words, they provide security to the entire Joystream blockchain. They serve a similar purpose to miners in the Bitcoin blockchain.

Joystream Launch

Joystream was started by online distributed community members as well as employees of an organization. In order to mature the technology and draw in and train community members who would oversee and manage the DAO after launch, the project underwent a protracted development process that included several incentive-based testnets from 2019 to 2022. The goal of the was to develop a skilled and enthusiastic community by enabling non-US users to gain $JOY allocations by taking part in the testnet in a variety of jobs and activities. They would be recognized in the blockchain, granted the status of a founding member, and given an onbrand avatar when reaching a particular degree of commitment. Also eligible for founding member status is anyone who has collaborated directly with Jsgenesis.

Joystream Price Prediction & Forecast

There are not so many price predictions for Joystream (JOY) token, however, DigitalCoinPrice values it in 2030 at $0.12. Their experts also believe that by 2033, the highest price for the coin will be $0.31. PricePrediction crypto analysts think that JOY coin will do even better: they promise that by 2033, the asset is going to cost $0.7594 at its highest point.

Joystream: Roadmap

The project has a lot of innovations that are waiting to be implemented down the road. For instance, the Q2 of 2024 Joystream dedicates to creation and implementation of a bridging solution using Joystream to enable Ethereum interoperability. The objective of this initial version would be to enable JOY to be accessed as an ERC20 token on the Ethereum mainnet, from which it could be further bridged to additional L2s and side-chains. As a result, it will be possible to use and trade JOY with a wider set of tools.

To add to the list of improvements, the platform is planning on adding staking pools. Implementation of on-chain nomination pools will allow for users to far more easily and quickly stake the JOY token for pooled rewards from other users. This will also provide an important revenue stream for wallet developers and make the Joystream project more attractive to be featured on wallets. 

These are just a few of the innovations Joystream is working on, and the team is being very active on Twitter, posting updates about the platform and launching programs for members. With so much activity going on, Joystream has a solid foundation to create valuable software systems and partnerships using existing and new technologies.

How to Buy Joystream (JOY) Crypto Step-by-Step Guide

StealthEX is here to help you buy JOY token. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount you want to exchange — for instance, BTC to JOY. 

2. Press the “Start exchange” button.

3. Provide the recipient address to transfer your crypto to.

4. Process the transaction.

5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.