Twitter launches new streaming video application ‘Periscope’

Twitter on Thursday launched a new application Periscope, a move that could dampen enthusiasm for the rising online star Meerkat, which offers a similar service.

The Periscope app is a streaming video application like Meerkat, allows anyone to stream live video to a wide audience with their Smartphone.

Twitter's Kevin Weil said in a blog post that the new app enables to share and experience live video from mobile phone and is also perfect complement to Twitter.

The team associated with development of the Periscope app outlined a range of possibilities for the service, including how it can turn any smartphone user into a global reporter.

"What if you could see through the eyes of a protester in Ukraine? Or watch the sunrise from a hot air balloon in Cappadocia?" the team blog said.

They stated that it might sound funny and crazy to some, but actually they want to build the closest thing to teleportation.

There are many ways to discover events and places, but they can say that there is no better way to experience a place right now than through live video, they added.

The team members said they are seeing a tremendous amount of potential for their app, which is available to iPhone users. The app compatible for Android devices users is still I progress.

Periscope offers an audience and also the power of a shared experience, the blog said. Furthermore, broadcasters and Periscope are directly connected to their audience where they are able to feel their presence and can even interact.

As Meerkat was gaining higher popularity at the South by Southwest festival earlier this month, Twitter cut Meerkat's access to some features, which could limit its ability to grow.

Ben Rubin founder of Meerkat called the move a small bump for the service. He also said that Meerkat would continue to grow.