What is Live Stars?

According to the Whitepaper, Live Stars aims to create a revolutionary platform for the webcam model industry through the use of blockchain technology. The webcam industry is an exciting and growing niche; in 2013, the New York Times estimated that the annual revenue from webcamming was more than $1 billion, and that the revenue generated through webcamming represented 25% of all the revenue in the pornography industry as a whole. The revenue generated in the webcam industry has no doubt increased since 2013. Live Stars aims to technologically revolutionize this field by addressing and solving several key issues within the industry: high commissions, payment delays, and lack of anonymity for users. In essence, Live Stars aims to create a fundamentally new webcam platform to create a more efficient, secure, and convenient interaction between the users, the models, affiliates and the Live Stars platform.

How Live Stars offers an Improvement to Webcamming

There are several issues with popular webcam websites today, such as LiveJasmin, Chaturbate, ImLive, and others.

The first issue is high commissions. On average, leading webcam sites have a commission of 60% — that means if a user sends $100 to a webcam model, the model will only get $40 while the staff retains the other $60.

Furthermore, payments from user do not always correspond to the promised rate; hidden fees and conversion rates for currencies leads to deductions of the amount sent to webcam models. This can cause the webcam models to dislike and distrust the platform. Using blockchain technology, however, Live Stars is able to guarantee their webcam models up to 70% of the money sent to them by the users.

Another issue that webcam websites face is lack of anonymity for its user. Webcam sites often have databases that contain the following information:

● Successful and Declined Transactions

● Credit Card Details

● IP Addresses, location, time of login/logout

● Names and Surnames

Furthermore, all user activity on the platform is recorded. This includes logs of chat conversations with the models. Live Stars offers a unique solution by offering complete anonymity and security through the use of cryptocurrency/blockchain. By only allowing Live Star’s users to pay through cryptocurrency, it removes the necessity of gathering and storing personal transaction and card information about its users.

Another problem that users of traditional webcam model websites face is errors during payment. In a traditional webcam platform, payments from the user usually go through multiple 3rd party services for payments. This can often lead to errors and failures of the payment, and payments can be delayed or even cancelled.

Live Stars solves this problem, as mentioned earlier before, by having all payments be a cryptocurrency. This not only makes payment much faster, but also much more secure as well.

Another problem that many webcam models face is minimal withdrawal amounts. For example, most webcam sites only allow a webcam model to withdraw their money after they make $50 or more. Their money is essentially locked on the website until they reach the minimum amount. Even once the webcam model reaches the minimum amount, the model has to wait for the payment period to get their earnings. Models may have to wait a week, or even longer, before they receive their payments. This causes webcam models to be frustrated and dislike many of the current webcamming platform available today.

By using cryptocurrency, the Live Star model guarantees that webcam models can withdraw their funds whenever they want, with no minimum withdrawal amount. Payments are automated through the use of smart-contracts, removing the need for a person on the Live Stars team to authorize the payments. A corollary issue with payments is chargebacks from stolen credit cards. It’s very easy for the actual credit card users to dispute charges from stolen credit cards, and the website is then obligated to refund the money given to the webcam model. These funds are then removed from the webcam models account. Again, the use of cryptocurrency solves this issue as credit card fraud becomes impossible.

Overall, Live Stars is a superior service to current webcam services such as ImLive, Chaturbate, Streamate, BongaCams, and LiveJasmin. Live Stars will offer not only decentralization but also be open source, have complete anonymity for its users, share a higher percentage of revenue with its models, and have no minimum payout.