1. What is LBC?

Introduction to LBRY Credits (LBC)

LBRY Credits (LBC) is a cryptocurrency used for content sharing and transactions on the LBRY network. LBRY is a decentralised video sharing platform that allows users to upload, download, and share video content. LBC is the native cryptocurrency of the platform, used to reward content creators and promote the platform's development.

Here are the main features of LBC:

1. Decentralised video sharing: LBRY is a decentralised video sharing platform that allows users to upload, download, and share video content.
2. Content rewards: LBC is used to reward content creators and promote the development of the platform.
3. Cryptocurrency trading: LBC can be traded on cryptocurrency exchanges.
4. Blockchain technology: LBC utilises blockchain technology to record transactions and ensure security.

Overall, LBC is a cryptocurrency designed to facilitate content sharing and transactions on the LBRY network.

2. Who founded LBC?

According to search results, the cryptocurrency LBRY Credits (LBC) was founded by Jeremy Kaufman and Alex Grintsvayg. Jeremy Kaufman is the CEO and founder of LBRY.

3. Which venture capitalists invested in LBC?

According to public information, here are some venture capital firms that have invested in the cryptocurrency LBC (LBRY Credits):

1. Union Square Ventures: An American venture capital firm that invested in LBRY's seed round.
2. Founders Fund: An American venture capital firm that invested in LBRY's Series A.
3. Lux Capital: An American venture capital firm that invested in LBRY's Series A.
4. General Catalyst: An American venture capital firm that invested in LBRY's Series B.
5. Alumni Ventures: An American venture capital firm that invested in LBRY's Series B.

Please note that this information may be incomplete or outdated, and investment situations may change.

4. How does LBC work?

LBC (LBRY Credits) is a cryptocurrency based on blockchain technology, aimed at supporting the digital content market of LBRY. Here is how LBC operates:

1. Decentralisation: The LBRY network is composed of numerous user nodes, with no central authority controlling it. This means that LBC transactions are not subjected to any centralised financial institution or government regulation.

2. Content creators and consumers: LBC sustains the LBRY network by rewarding content creators and consumers. When content creators publish content on LBRY and receive views, the system grants them corresponding LBC rewards based on the view count. When content consumers watch paid content, a portion of the fees paid is converted into LBC and distributed to the content providers.

3. Exchange purchases: LBC can also be purchased on several exchanges that support LBRY, where users can exchange for LBC using other cryptocurrencies like Bitcoin.

4. Anonymity and quick transactions: LBC transactions are completed almost in real-time, with low fees, and users' personal identity information is not disclosed, providing users with higher privacy protection and convenient cross-border payments.

5. Incentive mechanism: LBC encourages more users to participate in the platform by rewarding content creators and consumers, thus creating an active content ecosystem.

In summary, LBC acts as the internal currency of the LBRY platform, supporting the operation of the digital content market through decentralisation, anonymity, swift transactions, and incentive mechanisms.