Interoperability, scalability, & token storage
To best understand our project and its numerous technicalities, we’ve decided to explore how we aim to build a comprehensive and highly scalable video streaming and storage service with our community.
Scalability was one of our major priorities when designing and building the Script blockchain. Our competitive blockchain will enable superior video hosting while simultaneously allowing developers to migrate or create decentralized applications (dApps) on our ecosystem.
Throughout this article, we’ll be reviewing the defining protocol features that make Script the most unique, efficient, and interoperable decentralized video and television service.
Scalability
Script.TV was built to serve and entertain millions of people over the work. Our blockchain has enough capacity to run 30+ live channels, host large quantities of video data, and allow several dApps to run simultaneously.
Through our multi-level consensus mechanism, we are able to scale our network and ensure a high transaction output. Our validator nodes are divided into two categories: first-level and second-level validators.
While first-level validators are fewer, they are responsible for producing blocks. They can do so at a high speed, similar to other consensus mechanisms like Practical Byzantine Fault Tolerance (PBFT). The second-level validators, also known as Lightnings, are then trusted with completing the network and confirming blocks.
The innovative structure allows a small number of first-level validators to easily reach consensus, while a large pool of second-level validators ensures high network integrity and reliability. It’s important to note that validators will be selected among $SCPT token holders, so be sure not to miss the chance to participate in our upcoming token sales.
Interoperability
Until rather recently, there was no interconnectivity between blockchains. Each cryptocurrency lived on its own island, separated from the rest of the market. However, thanks to protocols like Script TV, the blockchain environment is becoming increasingly connected.
Script.TV is fully compatible with the Ethereum Virtual Machine (EVM), thus enabling existing decentralized applications (dApps) and smart contracts to be easily migrated to our blockchain. Furthermore, our non-fungible tokens (NFTs) have cross-chain capabilities and can easily be migrated or exported to other protocols, marketplaces, and metaverses.
Token storage
Our dual token system is a vital component of our network architecture, helping prevent numerous vulnerabilities and maintaining a healthy supply of tokens in circulation. Both the $SCPT and $SPAY tokens guarantee instant liquidity and ease of trading, as it will be possible to perform swaps with popular trading pairs.
While $SCPT is used for staking and network management, $SPAY will power all transactions within the network. This means that any gas fees related to payments, interactions with smart contracts, and acquiring/selling NFTs will be paid in $SPAY.
Holders will be able to store and stake their tokens on the Script network and a variety of other exchanges after the listing process. Cold storage will also be an option for those looking to store their tokens offline in hardware wallets.
About Script TV
The Script Network is a video-based blockchain protocol focused on decentralized storage and 24/7 live content. Script Networks products include Script TV, Script Video NFTs, and multiple other dApps currently being built on-chain.
Script TV, one of the core services of the Script protocol, is a free-to-air live television platform. It features countless channels and offers diverse movies, sports, documentaries, and news content.
Filmmakers can finance their productions through the Script fundraise mechanism, while users will be rewarded with $SPAY tokens for watching content (watch-to-earn) and sharing their bandwidth with the network.
