Transcodium : A Decentralized Peer-to-Peer Media Editing, Transcoding & Distribution Platform

thejohnmatch (1)(1)in #blockchain • 6 years ago

Review Project
Transcodium Review

Recently, the world has seen a remarkable improvement in the media industry, i.e. from video advertising to media streaming, however, due to the high cost of cloud transcoding services, it has been very challenging for startups and companies on a low budget who needs these services.

Since the emergence of cloud technology, the transcoding industry has grown at a very large scale. We are well known to companies like Netflix, Amazon Prime, Vimeo, Youtube, and e.t.c, who transcodes terabytes of data on daily basis, investing a large amount of their revenue on media file conversion. The current report also predicts that, by the year 2019, the transcoding market will grow by 15 percent CAGR globally, which reflects a huge scope to flourish.

The concept of transcoding has always been limited to the conversion of video and audio files, however, it has the larger extent to take any type of file like PDF, HTML, Word Document and converts it into any possible preferred format

Transcodium will tackle all the 3P’s ( Privacy, Pricing, and Processing Power) in an instance, there will be no limit on how much processing power Transcodium will be able to generate from its network.Transcodium network will be available to its target customers in a more cheaper price than the current market price.

Transcodium’s unique algorithm will enable the conversion of media files in a supersonic speed by splitting large media files into very tiny chunks and thereafter will be encrypted, compressed and sent to workers (idle devices) to process. Due to the lightweight of each chunk, these tasks will be transferred and processed at a very fast speed, even smartphones will be capable of processing them. Tokens will be rewarded to any worker who completes its task before the allocated timeout.

The Problem

Cloud transcoding platforms are too expensive and are scaring away startups, who require their services. Existing companies have to spend more than half of their income just for processing these media files, which is not encouraging.

Long processing time due to limited hardware. Cloud transcoding platforms has a hard limit on hardware, therefore, all the files to be processed are queued, until their time is due for processing, which causes frustrations on the customer’s side waiting for processing.

Due to the centralized nature of the platform, a server outage or downtime can cause failure of the whole transcoding process wasting time, money and resources.

Most transcoding platforms are limited to only media file formats,making it very difficult to convert other formats such as images and documents formats.

The Solution

The blockchain and decentralized technology model enables the provision of a cheaper and reliable alternative to cloud transcoding.

Due to the unlimited processing power, all thanks to the workers,files will be transcoded in a very fast speed, eliminating long queues and waiting time.

A single transcoding request will be processed by multiple nodes and workers, so the outage of one node or worker will have no effect on the process, making it more efficient and time-saving.

Transcoding will not be limited to audio and videos only, but also other file formats such as images and documents.

Market Overview

Transcodium network will enables customers to avail unlimited processing power in a very cheap compensation for the task. Customers will be able to select a price from the range of prices provided by the TNS regulation, the higher the price the faster the file conversion and vice versa.

The customer can select where to export the file after processing,destinations such as facebook, youtube, twitter, SFTP, Amazon AWS,Google Drive and etc will be supported. Multiple destinations are supported. The first destination is always free, other subsequent destinations will attract a fee which will be rewarded to the master node processing it.

Before processing of any file commence, the application will compute the total cost for the initiator to approve, once approved, the initiator’s wallet will be debited. The debited amount will be refunded if processing fails. Customers will need the TNS token in order to pay for any transaction on the network.

Token Sale
Crowdsale Opening Date

07–01–2018

30 days ago

Crowdsale Closing Date

28–02–2018

in 22 days

Allocations