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.
Transcodium started as medianap in 2015 with a visual cloud transcoding
and media editing platform, but went out of business due to the high cost of
cloud servers, we could not compete with the existing platforms and had to
switch to another business. In 2016, our team decided to look into the
project again but this time using the blockchain and decentralization
technology. Unlike the previous platform, Transcodium’s network will be
fully automated without human intervention.
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
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.
The global video streaming software market size is
expected to grow from USD 3.25 Billion in 2017 to USD
7.50 Billion by 20221
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.
Do You Know: 87% of online marketers use video content