Unlike traditional data networks, Streamr is not based on a centralised message broker but on each user or data consumer also acting as a network node and passing the messages to other users. What results is a massively scalable and fast network for data transport. Participation in this decentralised network can be called mining as it is comparable to the role of network nodes in Bitcoin and Ethereum, with some important exceptions. Instead of meaningless operations that burn energy, users share their bandwidth and thus contribute their valuable resources to the network.
Decentralised networks are "a classic case of a solution looking for a problem", as Mr. Pihkala puts it. They have disruptive potential that will gradually change the way applications are created on the internet, giving rise to what is called the Web3.0. This kind of disruption has already happened in the story of BitTorrent that forced the music and film industries to completely change their business models.
He also gives some practical advice to those willing to join this revolution. You can simply install the Streamr software on your Raspberry Pi, connect it to the testnet and start earning small crypto payments for hosting your own network node.
Watch the video podcast on Youtube, or listen on Apple Podcasts or Spotify.
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In the TX Podcast series, we dive into web 3 technologies and data economies with guests from forward-thinking companies around the world. Tune in for talks about the next generation of internet technologies, blockchain, DeFi, cryptocurrencies, IoT, AI and machine learning.
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