POP Masternodes: backbone of the decentralized web streaming economy
⚠️ Updated with the release of POP Masternode v0.2.3-alpha ⚠️
The purpose of POP Network is to create a fair system of media distribution which creates value for all participants in a way that was simply not possible before blockchain technology.
This goal can only be realized with an effective decentralized content distribution network (dCDN) that is the superior evolution of legacy peer-to-peer torrent systems.
On other blockchains, like DASH or PIVX, a Masternode keeps a record of the blockchain and performs special functions like instant or private transactions. Although the role of Masternodes on POP Network is different, it is no less important. They form a peer-to-peer content distribution network to store and serve all media.
POP Masternodes earn passive income
Any POP Token Holder can claim the right to become a Masternode by holding 50,000 POP as collateral. Like Delegates and Superdelegates, Masternodes earn significant rewards for service to the network.
You can think of the Masternode as a customized bittorrent client paired with a non-custodial cryptocurrency wallet which forms the backbone of our decentralized content distribution network:
Signaling is the process to detect torrent peers, set up network ports, and establish the initial connection. This exchanged data is fully encrypted end-to-end, requires zero trust, and is not stored thus providing an advanced level of protection from certain attacks.
A distributed hash table, or DHT, is a scalable, decentralized, fault-tolerant data structure. Specifically, the Kademlia DHT is an algorithm used by a range of decentralized projects including Storj, Ethereum, and IPFS. Kademlia would give POP Network a way for millions of devices to discover content without the need for a centrally-operated server.
Underpinning the Masternode is a robust cross-platform utility which both retrieves data from and sends data to other nodes. This utility also serves as the first receiver of new media from Superdelegates and is the mechanism by which content gets seeded to other nodes on the network.
Older torrent networks are hopelessly limited because they separate the act of moving content from the act of consuming content. Devices on the edge of the network receive content but typically discard it after consumption. In the context of peer-to-peer networks, we believe that is a wasted opportunity.
Browser-to-browser nodes are created on-the-fly
POP Network makes great strides by enabling incentivized peer-to-peer streaming directly in the browser. Whenever you stream media, you have the option to seamlessly re-stream the content from your browser to other streamers and earn a token reward.
By becoming a temporary re-streamer, or Ephemeral Masternode, the act of consuming content expands and reinforces the network, particularly in times of high demand. The network literally gets stronger the more popular it becomes. And, most importantly, every streamer has a cryptoeconomic interest in the success of the network.
Exchanging content browser-to-browser uses Secure Real-time Transport Protocol (SRTP) for media encryption. These encryption keys are set up using Datagram Transport Layer Security (DTLS), which is based on the Transport Layer Security (TLS) protocol widely used on the internet.
Leveraging the streaming device layer brings the potential to add millions if not billions of devices to the torrent network while increasing performance with every new addition.
The way POP Network incentivizes Masternodes is a novel attempt to solve one of the age-old problems in torrent networks:
How can we make sure specific content is
always available on a decentralized network?
On POP Network, after AI-enhanced moderation, approved content is sent for peer-to-peer distribution. Media files are split into small pieces, encrypted, and scattered across multiple Masternodes. No single entity has total possession of any piece of content and redundant data is stored across different locations.
Content is reassembled on the fly in the Media Player from Masternodes and Ephemeral Masternodes. Every device playing a piece of media has the potential to become an Ephemeral Masternode, thus growing the network with every stream.
Using cryptoeconomic incentives, POP Network aims to encourage Masternodes to maintain content persistence on the network and insure that all users can get whatever media they want whenever they want it.
It is important to note that POP Network is fundamentally agnostic as to the types of media distribution services that can run on top of it. The platform is being constructed in a way that is philosophically similar to the way the ERC-20 standard allows any token on Ethereum to be used by other applications.
This idea facilitates the formation of an open developer community dedicated to building an ecosystem of distributed services which, in essence, form the new streaming media economy.
Imagine a native-language YouTube or Netflix for fast-growing digital-first countries like Indonesia or Vietnam. Or, think about musicians in China streaming on a native-language Spotify built for the expat audience in Africa.