{"id":8498,"date":"2021-01-17T12:10:41","date_gmt":"2021-01-17T12:10:41","guid":{"rendered":"https:\/\/bitsacard.com\/blog\/?p=8498"},"modified":"2025-03-24T16:07:59","modified_gmt":"2025-03-24T16:07:59","slug":"what-is-lbry-credits","status":"publish","type":"post","link":"https:\/\/bitsacard.com\/blog\/en\/what-is-lbry-credits","title":{"rendered":"What is LBRY Credits and how it works"},"content":{"rendered":"<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">If you came across this strange acronym (no, it is not the stage name of an American singer), <strong>today we\u2019ll show you what LBRY is and how it works<\/strong>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 140%;\">What is LBRY Credit<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><b>LBRY is a sharing platform that uses blockchain technology <\/b><span style=\"font-weight: 400;\">to allow users to publish material and monetise published material with its integrated payment system. It is a system which <\/span><b>combines the great technical advantages of Bitcoin and Bittorrent services for people who want to share content<\/b><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">LBRY was born from the idea of the founders (Jeremy Kauffman and Mike Vine) of wanting <\/span><b><i>decentralize the way resources are shared and published on the Internet<\/i><\/b><span style=\"font-weight: 400;\">, creating a system that directly awards the artist and that guarantees artists who share their content total control over their media.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">LBRY is defined on its official website as <\/span><b><i>a secure, open and community-managed digital marketplace that allows its users to enjoy the latest content of their favorite creators, as a user, and not as a product<\/i><\/b><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">This means that one of the main objectives of the project is <\/span><b>eliminate one of the limits that characterize platforms like Youtube and Spotify<\/b><span style=\"font-weight: 400;\">, where users who use the published content are forced to see ads, in exchange for free use of the platforms, making the users themselves a product.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 140%;\">How LBRY Credit works<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">As we have just mentioned, <\/span><b>LBRY is a protocol<\/b><span style=\"font-weight: 400;\">. Allows anyone to create apps through which content creators can: <\/span><\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>upload their work to the LBRY host network<\/b><span style=\"font-weight: 400;\"> (come <\/span><i><span style=\"font-weight: 400;\">BitTorrent<\/span><\/i><span style=\"font-weight: 400;\">), <\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>choose a price<\/b><span style=\"font-weight: 400;\"> for streaming or download (such as <\/span><i><span style=\"font-weight: 400;\">iTunes<\/span><\/i><span style=\"font-weight: 400;\">) <\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">o <\/span><b>share it for free<\/b><span style=\"font-weight: 400;\"> (such as <\/span><i><span style=\"font-weight: 400;\">YouTube<\/span><\/i><span style=\"font-weight: 400;\"> without advertising). <\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">The work published includes video, audio, documents or any other type of file. Everything happens through blockchain technology.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">Traditional video sites like Youtube, Instagram and Spotify store uploads to their servers and allow viewers to download them. They also allow creators to make money through advertising or other mechanisms. <\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><b>LBRY wants to be an alternative to sites like Youtube, Instagram and Spotify<\/b><span style=\"font-weight: 400;\">, allowing publishers and their fans to interact directly, without the risk of demonetization.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">As explained on <\/span><a href=\"https:\/\/lbry.com\/faq\/what-is-lbry\"><span style=\"font-weight: 400;\"> official website<\/span><\/a><span style=\"font-weight: 400;\">, if for many users LBRY is a platform where they can find videos, music, ebooks etc., in reality when we talk about LBRY we can refer to 3 components that work together.<\/span><b><\/b><\/span><\/p>\n<ul style=\"text-align: left;\">\n<li><span style=\"font-size: 120%;\"><b>LBRY as Cryptocurrency;<\/b><\/span><\/li>\n<\/ul>\n<ul style=\"text-align: left;\">\n<li><span style=\"font-size: 120%;\"><b>LBRY as a content sharing platform;<\/b><\/span><\/li>\n<li><span style=\"font-size: 120%;\"><b>LBRY as a project.<\/b><\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">Below we will see the characteristics of each of them.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><span style=\"font-size: 130%;\"><b>LBRY CRYPTOCURRENCY<\/b><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">LBRY is the name of the cryptocurrency of LBRY credits, whose acronym is <\/span><b>LBC<\/b><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">LBC tokens can be obtained through mining, through buying and selling in Exchanges or through the reward program.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"> <b>Rewards (rewards) are one of the ways in which <\/b><a href=\"https:\/\/lbry.com\/faq\/earn-credits\"><b>LBRY users can get LBC<\/b><\/a><\/span><span style=\"font-weight: 400;\"><span style=\"font-size: 120%;\">, through content viewing, channel tracking, content publishing, having other users follow their own channels, inviting other people to join LBRY and more.<\/span> <\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><span style=\"font-size: 130%;\"><b>LBRY PLATFORM <\/b><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><b>LBRY Credits is based on a decentralized blockchain platform<\/b><span style=\"font-weight: 400;\">, designed, as we have already explained, to allow artists to upload their content on a host network and set a price for streaming or download, or share them for free.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">Content uploaded to the LBRY decentralised network remains publicly accessible as long as the community finds it valuable and continues to host it.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><span style=\"font-size: 130%;\"><b>LBRY PROJECT <\/b><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">The primary goal of the project is to develop the LBRY application that helps to interact easily and quickly with the protocol, using an open source code.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">According to the project developers, <\/span><b>LBRY\u2019s application is not only fully open source, but also allows you to create competitive applications<\/b><span style=\"font-weight: 400;\"> which also use the LBRY protocol. This ensures that the protocol will always remain active.<\/span><\/span><\/p>\n<p>[divider]<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 120%;\"><b>Where to buy, sell or exchange LBRY Credits (LBC)<\/b><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">So you can get and buy LBC through various modes:<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>As a gift through the LBRY Rewards program<\/b><span style=\"font-weight: 400;\">, that allows users to earn credits for completing tasks through the LBRY application. You can receive LBC awards for actions such as streaming your first video, publishing your first content or watching different videos.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>y referring friends <\/b><span style=\"font-weight: 400;\">who join LBRY.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>By helping with activities<\/b><span style=\"font-weight: 400;\"> such as providing additional testing or offering assistance to the LBRY community.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>By contributing to the LBRY project as a developer<\/b><span style=\"font-weight: 400;\"> or engineer.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>Mining them<\/b><span style=\"font-weight: 400;\">. LBCs are mined over a 20-year proof-of-work period. Block rewards increase every 100 blocks of 1LBC, peak when they reach 500LBC, and then slowly decrease.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>By publishing content on the LBRY network<\/b><span style=\"font-weight: 400;\"> e vendendoli presso la LBC di tua scelta.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-size: 120%;\"><b>By purchasing LBC on exchange<\/b><span style=\"font-weight: 400;\">.<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">If you are going to <\/span><b>buy LBC on an exchange<\/b><span style=\"font-weight: 400;\">, below we leave you a list of the popular cryptocurrency exchange, which offer this token:<\/span><b><\/b><\/span><\/p>\n<ul style=\"text-align: left;\">\n<li><span style=\"font-size: 120%;\"><b>Bittrex<\/b><b>: One of the largest cryptocurrency exchanges with a selection of over 190 cryptocurrencies and 3 USD pairings.<\/b><\/span><\/li>\n<\/ul>\n<ul style=\"text-align: left;\">\n<li><span style=\"font-size: 120%;\"><a href=\"https:\/\/coinswitch.co\/\"><b>CoinSwitch<\/b><\/a><b>: <\/b><span style=\"font-weight: 400;\">Founded in 2017, CoinSwitch is an India-based cryptocurrency exchange that allows users to trade over 300 cryptocurrencies on over 45,000 currency pairs. <\/span><\/span><\/li>\n<\/ul>\n<ul style=\"text-align: left;\">\n<li><span style=\"font-size: 120%;\"><b>ShapeShift<\/b><span style=\"font-weight: 400;\">: allows you to convert between different cryptocurrencies without having to make a deposit first.<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400; font-size: 120%;\">Great for simple crypto-to-crypto operations.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: left;\"><span style=\"font-size: 120%;\"><a href=\"https:\/\/changelly.com\/\"><b>Changelly<\/b><\/a><span style=\"font-weight: 400;\">: A crypto-to-crypto exchange that provides access to competitive exchange rates for over 150 cryptocurrencies.<\/span><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><span style=\"font-size: 130%;\"><b>Which wallets to use to store LBC?<\/b><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">Storing your LBCs on an exchange is not recommended for security reasons. For this, we advise you to do it <\/span><a href=\"https:\/\/www.bitnovo.com\/blog\/it\/wallet-piu-sicuri\"><span style=\"font-weight: 400;\">using a secure wallet<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">The<\/span><span style=\"font-weight: 400;\">LBRY app<\/span><span style=\"font-weight: 400;\"> has an integrated wallet and is available for Windows, macOS, Linux, iOS, and Android operating systems.<\/span><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 120%;\"><span style=\"font-weight: 400;\">If you are looking for another type of LBRY wallet, we recommend the one of<\/span> <a href=\"https:\/\/www.coinomi.com\/en\/\"><span style=\"font-weight: 400;\">Coinomi<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you came across this strange acronym (no, it is not the stage name of an American singer), today we\u2019ll show you what LBRY is and how it works. &nbsp; What is LBRY Credit &nbsp; LBRY is a sharing platform that uses blockchain technology to allow users to publish material&#8230;<\/p>\n","protected":false},"author":22,"featured_media":2553,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitsa-en"],"_links":{"self":[{"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/posts\/8498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/comments?post=8498"}],"version-history":[{"count":3,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/posts\/8498\/revisions"}],"predecessor-version":[{"id":14056,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/posts\/8498\/revisions\/14056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/media\/2553"}],"wp:attachment":[{"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/media?parent=8498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/categories?post=8498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitsacard.com\/blog\/en\/wp-json\/wp\/v2\/tags?post=8498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}