Every Blockchain app will need Lightstreams for sharing content.

Lightstreams’ vision to create a digital content distribution network is built on the foundations of privacy, security and confidentiality.

By their very nature, Blockchains make the task of keeping sensitive information away from prying eyes difficult (they’re publicly - viewable databases, after all).

Ethereum’s smart contract capabilities show huge promise in revolutionising digital agreements, but the network itself is massively hindered by an inability to provide adequate privacy for the content being shared in smart contracts. This rules out hundreds (if not thousands) of use-cases where parties are dealing with confidential data (intellectual property, sensitive messages, payment details, etc.).

To truly unlock the potential of smart contracts, a solution like Lightstreams is required. The protocol runs on a modified version of Ethereum (remaining compatible and version synchronised), making use of a permissioned IPFS to store information (as blockchains are terrible storage solutions for even small files).

The process by which one can exchange content with Lightstreams is fairly straightforward — we’ve already got it working on the testnet.

The owner creates a contract on the Ethereum network, setting a price in PHT (or photons, the native token for Lightstreams). They then upload their content to an IPFS address, which is added to the smart contract. If another user wishes to gain access, they send the requisite PHT to the contract address, which relays their intent to access the content across the Lightstreams network. Using the IPFS bitswap protocol, an encrypted copy is then sent to the purchaser. (The owner could also set specific users that can access the content without charging PHT).

In the future, we fully expect to see Lightstreams play an integral role in Decentralised applications (dApps). Decentralised applications are thought to be the real innovation introduced by Ethereum, but usable ones are few and far between. This is due in part to the scalability issue (remember the congestion CryptoKitties caused?) and the aforementioned confidentiality concerns.

Lightstreams’ combination of on-chain and decentralized off-chain technology is going to pave the way for future Blockchain Applications. By leveraging the smart contract functionality of the Ethereum network and the secure storage offered by our modified IPFS protocol, we’re bringing to the platform an unprecedented solution for privacy and confidentiality!

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