BlockCDN, blockchain-powered CDN trading platform, announced that it will be trailing crowdsourced computing power with China’s top online content provider Youku. The company is in talks with the executives of Youku, who will be trailing their technology.
The announcement stated that the Chinese blockchain company BlockCDN is working on in creating a bank for computing resources that will make it possible to provide crowdsourced bandwidth at highly competitive prices to content providers. The talks with Youku’s executives confirmed their participation in the trial phase of the BlockCDN.
“Internet use has doubled in a decade putting pressure on traditional CDN providers. Video and rich media content are gaining popularity and the rise of social and mobile media mean the consumer is demanding faster higher quality web experiences. BlockCDN believes the share economy model holds the only real solution to the problem,” Tony Long, CEO of BlockCDN said.
BlockCDN is working on to disrupt the $6 billion CDN industry with its blockchain based service. According to MarketsandMarkets data, the CDN market set to reach $23.2 billion by 2021, which makes BlockCDN providing a way to meet the industry’s increasing bandwidth demand in the near future. The company uses Ethereum smart contracts in order to handle trade transactions that are published on the blockchain for added transparency.
BlockCDN is currently preparing for an ICO starting November 28, 2016. Once the platform is live, BlockCDN will create a blockchain mediated ecosystem, allowing participants to have absolute control over their contributions and enabling them to earn passive income.
