Datt To Introduce A Decentralized, Bitcoin-Enabled, Content-Sharing Platform
Ryan X. Charles, blockchain engineer and former Reddit cryptocurrency engineer has launched the first prototype of Datt, a Reddit-like content-sharing platform with integrated bitcoin payments.
Datt v0.1.0, the prototype, has all the basic technical pieces of the platform in place, including cryptoidentities, P2P content sharing and P2P (bitcoin) payments. With these systems integrated into the platform, users can post content which is incentivized by others using bitcoin.
The latest prototype is a proof-of-concept which will soon be developed into a minimum viable product (MVP), a version that will be functional enough to be tested by users. Currently, version 0.1.0 has multiple features integrated that will seamlessly process bitcoin payments and the peer-to-peer incentive system.
Charles integrated the BIP 44 bitcoin protocol based on the master keypair of a BIP 39 + BIP 32 hierarchical deterministic (HD) key set, allowing users to easily back up and restore a wallet without needing any additional information and, in some cases, without the knowledge of the private key.
Such additional security measures and features enable Datt users to securely deposit and withdraw funds on the platform. The bitcoin-based incentive system will be based on the hierarchical deterministic key set implementation, processing secure and encrypted peer-to-peer payments among users.
“Users can deposit money into the integrated bitcoin wallet, withdraw money, and make payments to pieces of content. Each content has its own bitcoin address to which the author has the private key. When paying to a piece of content, the author will see they have received a payment and can withdraw or use it to make a payment to someone else,” explained Charles.
The Datt platform is also based on the implementation of Web Real-Time Communication (WebRTC), an API definition drafted by the World Wide Web Consortium (W3C), which usually supports browser-to-browser applications for P2P file sharing, video chat and voice calling.
The W3C support for P2P file sharing will allow users to fund and send bitcoin payments to digital content providers and contributors on Datt securely.
With the foundation and basic technologies developed for the Datt platform, Charles is shifting his focus toward building a company out of this idea. Over the next few weeks, Charles will look for an engineering cofounder to develop the prototype into a launchable product, a business operations co-founder, a minimalist designer and an investor to expand his team and launch the platform in a few months.
“There are other cool things to do next besides building the company, such as putting on another hackathon, making announcements to our mailing list about the status of the project, making videos of the product, or writing articles. All of these will be coming as well,” said Charles.