Twenty-three thousand people hold Media tokens. Why?
The token trades at $26 with an impressive market cap, making it a potentially good investment. But before you put your money into any crypto project, it is advisable to do enough research, so stick around to learn the important details about the decentralized peer-to-peer network and what it has to offer in the long and short term.
What is Media Network?
Media Network is a cryptocurrency protocol hosted on the Solana blockchain. And like every other project that uses the Solana ecosystem, Media Network has something to offer the decentralized finance space.
Most notably, Media Network was created to make media sharing cheaper and more accessible for users. It goes as far as making bandwidth costs up to 99 percent more affordable for media sharing. This is because of the ability of crypto projects to create an environment where peer-to-peer sharing is possible. This means less space will be consumed and less energy, leaving the environment in a better state.
Activities like reverse proxying, media streaming, load balancing, and web serving have become more accessible, affordable, and secure thanks to the Media Network.
Should you hold Media Network tokens?
Probably, because big and small entities rely on the project for the ease and security it offers. In fact, you may consider Media Network as one of those tokens meant for a community, mainly media sharers.
There already exists a decentralized system for CDN providers; this is where Media Network shines. It will interest you to know that Media Network is a community-governed CDN. A CDN is a content delivery network that aims to facilitate faster data transfer and information amongst people not within the same vicinity.
Media distributors prefer this technique because it allows them to disburse their content without the strict requirement of centralized content delivery networks. Some of these requirements include rigorous and sometimes impossible KYC sections and restrictions that prevent every user from participating in network governance. This allows anonymity, which is essential in some instances. An example is a journalist or an organization of non-profit journalists who must upload information that puts their lives in danger if the source is revealed.
But by joining the decentralized Media Network, a mechanism to disburse that information safely is created.
Even better, users of the Media Network can also hire the resources they need to ensure fast and secure information dissemination, regardless of the bandwidth requirements.
The more people join the network, the easier the burden of bandwidth sharing becomes. This is how the network improves the efficiency of and mitigates the cost of bandwidth sharing.
Users enjoy these services through the Media Apps, Media Server, Media Server Express, and Media Edge.
However, CDN entities pay a hosting fee to use this service. That hosting fee is produced in the form of MEDIA coins, staked for some time. Those tokens are distributed to the network’s validators and virtual security personnel. Validators use the proof-of-stake mechanism to keep the project safe and going, and they get paid from the transactional and service fees charged to end users of the personnel hosting on the Media Network.
It sounds like a proof-of-stake consensus mechanism, but it is not. Instead, it develops a new technique called proof-of-liquidity. Here, users provide liquidity to an extension of the Media Network by buying tokens.
The owners of Media Network are unknown, so it is one of those tokens without a specific ruling head. However, it is hosted on the Solana blockchain, which may mean something. Solana is also a partner to the network, as well as Serum, RAYDIUM, Solanart, handshake, and Let’s Encrypt.
Some of these names may sound familiar to you, but again, you may not know any of them. Apply this knowledge when investing in your portfolio. If a project is backed by longstanding or, at the very least, credible entities, then it may be valid.
Functions of Media Network
Media network was created to make it easy for content distributors to disseminate information without censorship. Nowadays, it is easy to see that a cryptocurrency protocol like this is indispensable. The importance of censorship-free information dissemination is becoming more apparent worldwide, and this is the beauty of a decentralized mechanism.
No one is in control, so it is simply impossible to restrict one person or entity’s voice because they disagree with a central body’s views. After all, no one is in charge.
It gets even better because the more people join the network, the better the services. This is because it is a community-powered or driven enterprise, free for all.
Although you cannot launch or host a website on Media Network, it allows you to perform other CDN-related ventures, such as scaling your media infrastructures to expand your reach to millions of other users.
One other function of Media Network is to enable live streaming events in a decentralized manner through strong, dedicated servers. It gets better because participants and users can communicate via the peer-to-peer features offered by the project.
You can also earn a small sum of MEDIA coins by renting your extra bandwidth to the network.
There are also Media Guards who are the virtual security team for the Media Network. Part of your coins goes to paying them to ensure your funds are safe. These are nodes that ensure the project’s continuity by keeping its core programming safe from breaches.
All of these may be semantics, considering cryptocurrency history. It is best to avoid trusting every project that comes into the market. Smart investing entails considering your odds and risk management, but with the aid of analysis. If a project offers value to the cryptocurrency ecosystem in years to come, it may be worth your money.
So, from all that has been said, do you consider Media Network a viable project? The whitepaper explains how the information will be disseminated without a centralized CDN.
In a nutshell, Media Network is a decentralized CDN. Or in other words, dCDN, and the first of its kind. This gives it an edge because it offers utility to a large yet specified community of users.
Investing wisely is a personal choice and one you should make carefully.