PeerTube is a video hosting software project. It enables anyone to set up their own video streaming site. This site can run independently, but it can also be linked, or federated, with other PeerTube instances to create a broader reach. All with P2P streaming support.
PeerTube relies on existing open technologies like BitTorrent as a streaming transport layer, allowing people watching your video to share it while they watch. This has the advantage of lowering the load on the server, making it more scalable.
Though still in its infancy, the nature of PeerTube–decentralized, federated, scalable with P2P, and lacking a single point of failure–makes it a formidable alternative to YouTube.
Proprietary applications it could replace: