The amount of video that is now being consumer online is truly staggering.
To take just a few platforms. Each day users of Netflix and Facebook both consume up to 100 million hours. On Daily Motion there are 3.5 billion average monthly views.
Not only are we watching a huge amount of video content we are watching it everywhere and every kind of device.
This has created some inherent challenges. In order to present video content across so many different types of devices it is essential to transcode that video into the right type of format.
This has in turn created a massive demand for transcoding services. While large media giants like Netflix and Facebook have the resources in order to perform this type of transcoding at scale, other smaller players have struggled.
The big players in the industry are pushing up costs for transcoding moving the services beyond the reach of smaller enterprises and solopreneurs.
At the same time there is plenty of idle capacity that could be put to use profitably transcoding media content. The question is how to connect the two.
Transcodium believes that it has an answer. Using the blockchain and a decentralised network it is creating a platform which enables anyone with spare processing power to connect and earn rewards for performing transcoding services.
Overview of Transcodium
The Transcodium network has three main parties: customers, master nodes and workers.
The customers are those people who need to have their media files transcoding. They can have transcoding performed by connecting to the Transcodium platform and making a transcoding request. They are then provided with a price for performing this service. If they agree to the price then it will be send to the network for processing.
The Master Node can be thought of the manager of the network. Master Nodes need to have fast internet connections and plenty of processing power. The Master Node can also function as a worker if they choose to.
The Master Nodes will take the media file that the customer has supplied and then if necessary convert this into small chunks for the network. The file(s) are then encrypted and delegated to the workers for transcoding.
Workers perform the grunt work of actually transcoding the content. Anyone can choose to connect to the Transcodium network with whatever device they have available.
In return for providing these services the Master Node and the Worker are rewarded with tokens. They rewards split up 20% to the Master Node and 80% to the Worker.
Used on the Transcodium Network is an ERC-20 token called TNS. This TNS token will be used for payments and providing rewards to the Master Nodes and the Workers.
TNS tokens are to be distributed in a token sale. This token sale will be divided into a pre-sale and a main sale. During the presale TNS tokens will be offered with a discount of 30% from the exchange rate of $0.276 to 1 TNS token.
Any unsold tokens will then be moved to the main token sale. In total 120 million TNS tokens will be made available for the presale and main sale.
Read more about the TNS token sale by visiting:
Transcodium Website: https://transcodium.com
Transcodium Whitepaper: https://transcodium.com/files/whitepaper.pdf
Transcodium Twitter: https://twitter.com/transcodium
Transcodium ANN: https://bitcointalk.org/index.php?topic=2571769