Parts of the video-sharing platform that will be decentralized are: Identities of participants, content, and mediums of exchange.
Every participant will have a digital signature, which enables identification of interactions and transactions between participants without the need of exposing the private keys of participants. This will enable the platform to identify and generate a good metric for ranking positive contributions to reward judicious parties, and have accurate matching between content creators and potential patronage. Digital signatures also verify the integrity of a given content, and prevent scams and impersonations.
Copyright protection is ensured through the public ledger, where each upload and purchase is recorded, thus making it easier for content rights owners to carry out infringement actions against those who unlawfully republish their content. Examples of such implementations can be found with the LBRY blockchain.
Digital signatures also provide security to personal information of participants. This promotes privacy and prevents data collection controversies.
Mediums of exchange on the platform can be tokenized as a public blockchain resource. The resource ecosystem can be in one or more tiers, which satisfy different market demands on the video-sharing platform. We could have a governance token that gives control to the users and content creators of the platform via voting mechanisms. This promotes democracy; and prevents dictatorial influences and plutocracy such as centralized platforms unjustifiably banning participants – it will be censorship resistant.
Having tokens that can be stored in wallets possessed only by participants will give custodianship to owners of the token.
Smart contracts can be applied to portions of a given content, that can only be accessed if certain conditions are met. This can prevent mandatory viewing of advertisements on the video-sharing platform. An example of such an implementation can be found in the veracity blockchain. So smart contracts can also implement incentives created by publishers for different types of attention-rewarded video content to billions of users worldwide. This promotes or increases: user engagement for ads, publisher revenue, viewership etc.
Also a DeFi token could finance and raise funds for other projects on the platform that increase the utility of the platform. This promotes the opportunity to have more decentralization of fund contributors, which prevents income inequality. This also promotes seamless partnerships and conglomerations amongst members with no middle men.
The video-sharing platform would be a public blockchain. The public blockchain will have a layer two solution implementation, which would store components that cannot be stored by the first (core) layer of the blockchain. The actual blockchain and other separate components sum up to form the decentralized internet
The second layer will be a centralized, and will have the ability to interact with the public blockchain. Large files such as media files: video, audio, will be stored in the second layer. Large files are difficult to be stored and accessed in blockchains because when additions have to be made, every validator has to approve consensually with other validators. This is time consuming and a heavy load on the given blockchain. Indeed, a ledger shared by thousands of users, where each piece of data is replicated amongst each user is not practically capable of hosting data beyond the megabyte scale. However, instead of storing the data itself, you can store a hash or fingerprint of the data (as embedded data). And then store the data in a secondary network e.g IPFS
References: https://blockonomi.com/youtube-alternative/ ; https://www.youtube.com/watch?v=JXt0v54nojI