myco is a video streaming super app where creators propers and viewers thrive. The web3 marvel was developed to synergize the functionality of multiple platforms into one remarkable application.
With myco
Operating with its hybrid model, the founders aim to move the entire video streaming layer on-chain by 2025, passing the benefits of decentralized data storage and consumption to the app’s global community.
“Think of smart contract design as the rulebook—and the referee—of blockchain. It’s what keeps decentralized apps running smoothly, enforcing agreements without the need for a middleman. When designed well, a smart contract is like a vault: transparent, secure, and trustless, reinforcing the entire blockchain’s reliability”.
VP of Engineering, myco
Source: Appliques
Note: Spike = Average Daily Downloads in 9M 23 / Average Daily Downloads during world cup
myco was designed & built with the vision to “bring true power to viewers.”
The app’s purpose is to bridge this power of viewership back to content creators, streamers, and independent filmmakers. myco envisions stronger content communities, decentralized access to funding, removing barriers to entry, better monetization share, and lower streaming costs.
Team myco was faced with multiple challenges to create a meaningful, engaging, and truly powerful streaming super app.
The first of these was to deliver a platform that would have the functionality and appeal to serve users worldwide with minimal latency ensuring smooth playback in regions with poor connectivity. Secondly, the platform needed significant resources to avoid traffic spikes especially when streaming live events and popular content.
Third, myco app required on-demand automatic video transcoding for varying resolutions and bitrates to ensure cross-device compatibility like smartphones, TVs, laptops, and tablet devices. In addition, the platform had to ensure low latency for live streaming of sports events and concerts, to provide a real time experience to viewers.
Finally, the myco platform had to scale efficiently & effectively as users’ demand grew to minimize costs, while ensuring vice versa during low traffic periods.
Using the Web3 infrastructure myco’s developers were able to host videos across peer to peer nodes instead of centralized servers. With the decentralized tech, viewers can watch videos hosted across global nodes instead of a CDN.
Using the Edge computing feature of Web3, myco deploys computing resources across a series of global nodes enabling viewers to access data quicker, hence decreasing latency. With optimized protocols inherent in the decentralized app architecture, transcoding is faster resulting in multi-bitrate playback and efficient video encoding.
The decentralized Web3 streaming technology also enhanced live event streaming using real time peer to peer networks. This basically means that live video is being distributed among nodes (devices that agree to share computing resources) allowing faster and direct transmission of data to other viewers.
Python
React
Redux
Go
Amazon Web Services
Shopify
Java
Enlang
Spark
Hadoop
The decentralized distribution ensures content is delivered to viewers with an extremely low buffer, giving them a smooth streaming experience worldwide. The myco platform is also highly scalable with over 500 global nodes able to handle well over 20 million concurrent users during live events. The use of decentralized nodes provides fantastic auto-scaling ensuring that during live events or high traffic hours resources are scaled efficiently from nodes.
With distributed computational power, myco app’s transcoding tasks are split across multiple nodes. Nodes that share resources have the incentive of earning tokens for sharing their computational power. The decentralized infrastructure also reduces the risk of failure, allowing reliable and resilient video streaming.
