Transcodium aims to provide the first peer-to-peer blockchain based and decentralized media transcoding, editing and distribution platform 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. Workers are idle devices on the network waiting to process a transcoding request. Initiators are customers or users who needs their files to be transcoded or converted into another format. Processors, this is a collective term denoting master nodes and workers.
Transcodium is a platform that would 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.
With the current cloud transcoding platforms, the following 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.
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.
THANKS FOR READING.
To know more about this platform, you can visit:
website: https://transcodium.com/?lang=en
join telegram group: https://t.me/transcodium
whitepaper link: https://transcodium.com/files/whitepaper.pdf
my bitcointalk link:https://bitcointalk.org/index.php?action=profile;u=1956531
ANN/BOUNTY THREAD: https://bitcointalk.org/index.php?topic=2604811.0
twitter link: https://twitter.com/transcodium
