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Crypto Terms:  Letter O
Jun 19, 2023 |
updated Apr 02, 2024

What is Odysee?

Odysee Meaning:
Odysee - is a video-sharing website developed on the LBRY network.
3 minutes

Let's find out Odysee meaning, definition in crypto, what is Odysee, and all other detailed facts.

Odysee, formerly known as lbry.tv, is a decentralized platform run on the LBRY network which enables its users to upload and discover videos. It is built on a censorship-resistant network that secures every transaction by making it immutable.

It’s made up of three major components:

  1. Decentralization. It doesn’t matter where you’re located, you will be able to view videos from all over the world. You won’t need VPNs to access specific content since won’t be restricted based on location. The decentralization feature is reminiscent of Bitcoin which stores transactions in the systems all over the network.
  2. A safe space for your content. With Odysee, you can rest assured that your videos won’t be taken down for unspecified reasons like they have been on other video-sharing platforms. The main reason behind not removing videos is the extreme energy consumption and computing power it requires to go through the entire process. Still, Odysee does have its own community guidelines that outline what kind of content is not welcome on the platform and restrict content based on said guidelines.
  3. Post content that brings you profit. Content creators can reward viewers through subscriptions or tips in the form of LBRY credits (LBC). Additionally, users are able to earn tips just by liking or commenting on other videos.

When you access the Odysee platform, you’re given the necessary tools to create a channel where you can create and upload videos. Keep in mind that, Odyssey does not demand fees from its creators.

On the other side of the platform, you can browse through a wide range of video content with the option to subscribe to your favorite creators and leave likes and comments. It’s similar to Youtube and can be considered its alternative option.

What is the difference between Odysee and LBRY?

LBRY Blockchain, also referred to as LBRY Network, is responsible for the development of Odysee. LBRY Network is a public, open-source protocol based on blockchain technology.

Its main functions include creating and publishing videos, and content exploration. LBRY provides the opportunity to rent or buy a variety of videos including ones from major film studios.

It can be compared to Netflix except LBRY has implemented a decentralized system that is run by its community. It even aims to gain rights to host popular tv series, movies, and documentaries.

On the other hand, LBRY TV is a video-sharing platform that gives a lot of freedom to its creators. Here, they can earn money without having to worry about paying additional fees. What’s more, is that the platform is now offering a hosting solution where the creators can link Odysee users to their own website. Additionally, the company envisions the removal of advertising on video-sharing platforms.