I am confused here in Google Nearby connections API(only Android) and ALTBeacon(Android+IOS), i want to use ALTBeacon but i want to know whether this library is able to do media streaming just like Google's Nearby connections API?
No. Both the AltBeacon standard for Bluetooth LE beacons and the Android Beacon Library that enables detection and advertising of these beacons are not designed or appropriate for media streaming.
BLE Beacons are generally limited to ~23 bytes of information per packet. This is not enough bandwidth for media streaming.