(Article taken from D Crypto on medium, see full article here: https://medium.com/dcryptinc/videocoin-analysis-a3d433b9a126)
Overview
Background
Technology
Architecture
Token Distribution
Management
VideoCoin provides content creators and consumers with an algorithmic marketplace for encoding, storing, and distributing video files.
The VideoCoin network aims to reduce the costs and increase the utilized capacity of the cloud video infrastructure market by providing an algorithmic market place that supports just in time demand for video.
With over 30% of all data centers underutilized, VideoCoin hopes to increase network efficiency by offering VideoCoin on a new blockchain with a native protocol token (VID), wherein miners earn VideoCoins by providing video infrastructure services and clients spend VideoCoins to rent these services.
Project Background
VideoCoin is creating a decentralized algorithmic marketplace for encoding, storing, and distributing video across networks. Video currently takes up a tremendous amount of internet traffic and by 2021 is expected to comprise over 82% of all internet traffic. While video is taking up an even greater amount of compute resources, computing technology has failed to keep pace. Most notable are the costs associated with encoding and storing video. Expensive hardware and large amounts of disk space are required for material dense video, such as 4k, to stream properly. VideoCoin hopes to implement new processes to video infrastructure that not only improve cost efficiency but increase the quality and speed of video streaming.
VideoCoin aims to improve the three main components of cloud video infrastructure: encoding, storing and distributing, by using a decentralized ledger where all processes are recorded and verified for authenticity. The process works by incentivizing miners to rent out compute resources, storage and bandwidth for consumers needing that service. While all three components of content delivery are verified through proof of work, a complimentary proof of stake blockchain will work in the background to confirm those three mining proofs. VideoCoin $VID will act as the incentive and financial tool that enables this system to operate in the desired manner.
To see the full article please read here: https://medium.com/dcryptinc/videocoin-analysis-a3d433b9a126
