The crypto exchange Bitfinex has announced that it is launching a peer-to-peer (P2P) marketplace for data streaming. The new platform dubbed Dazaar is scheduled to go live on June 25, 2020.
The exchange revealed that Dazaar platform was created out of the desire to democratize access to information. According to Bitfinex’s announcement, the Dazaar is built as an extension to the Hypercore Protocol, which is a secure, distributed append-only log that makes it easy to develop fast and scalable P2P applications.Dazaar users will be able to monetize their data without third-parties as interactions will solely be between buyers and sellers. Credit card payments could also be added in the future, the company added.
Data sellers once install the platform then will have to choose their preferred payment method. Once the preferred payment method is selected, then the protocol will generate a cryptographic identifier dubbed “Dazaar Card,” which sellers can share to groups and other places for buyers to find.
Dazaar also offers a live video streaming desktop application called Dazaar Vision. On the platform, users will be able to set up live broadcasts or subscribe to stream in real-time without signing up. Dazaar Vision also works without intermediaries as users can make or accept payments using the leading cryptocurrency, bitcoin.