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

What is Transcodium
Transcodium aims to provide the first decentralized file transcoding & distribution platform on the blockchain with
high quality and reliable computational power at a very affordable price. This will create a global market for users, willing to rent their idle machines to be used as workers (miners). Further, at the end of the transcoding process, the worker (processor) will be rewarded with the TNS token.

Transcoding is the process of converting from one file format to another desirable and compatible format. Before your favourite social media platform or streaming site such as YouTube or Netflix makes a video available to you, they need to convert this video into multiple formats in order to support different devices such as smartphones, laptop and desktop computers, TVs and more, since each of them have different capabilities. Some videos might even fail to play over a slow internet connection, these type of videos will also need to be converted into a lighter format for a smooth streaming.

Structure

Problems
With the current cloud transcoding platforms, the below problems and limitations were identified:

• 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.

Solutions to the Problems
Here are the proposed solutions to the problems above:

• 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.

Why Blockchain
The blockchain’s decentralized nature and goal of creating a more egalitarian internet support Transcodium’s business model of developing a more efficient transcoding ecosystem. Blockchain technology also enables the more efficient creation, transfer, and use of TNS tokens.

Token
TNS token/coin is the official Transcodium's virtual currency used on the Transcodium Platform. It is based on the Ethereum blockchain (ERC-20 Standard), Workers (Miners) will be paid with the TNS after a successful transcoding.

Token Sale

• Name: TNS
• Pre Sale Period: 07/01/2018 00:00 UTC to 28/02/2018 00:00 UTC
• Supply: 120,000,000 TNS
• For Sale: 86,400,000 TNS
• Emission Rate: No new tokens will be created
• Accepted Currencies: ETH, BTC, LTC, BCH
• Minimum goal: $500,000 USD
• Maximum goal: $30,000,000 USD
• Token price: 1 TNS = $0.376 USD
  

Road Map

Meet the Team

More Info
Website: https://transcodium.com
Whitepaper: https://transcodium.com/files/whitepaper.pdf
Btt Ann: https://bitcointalk.org/index.php?topic=2571769.0
Twitter: https://twitter.com/transcodium
Facebook: https://www.facebook.com/transcodium/

Author: Hurricanecol
My Profile link: https://bitcointalk.org/index.php?action=profile;u=1576406
Eth Address: 0x43D58a3D64062e4E2cF6aD285c7FE3a8B25741cC