zen14: TRANSCODIUM

Transcodium aims to provide the first and most decentralized peer-to-peer media for high quality copy, editing and distribution platforms with computing power and reliability at very affordable prices. This will create a global market for users, willing to rent their idle machines for use as a working tool (miners). Then, at the end of the transcode process, the worker (processor) will be rewarded with TNS tokens that can be exchanged for any currency or may be sold to customers who need this token to use on our platform.

Transcodium began as a Medianap in 2015 with a visual cloud and transcoding editing platform, but retired from business due to the high cost of cloud servers, we were unable to compete with existing platforms and had to move on to other businesses. In 2016, our team decided to look at opportunities through blockchain technology and decentralization. Unlike the previous platform, Transcodium Network will be completely autonomous without human intervention.

Transcoding is the process of converting from one file format to another preferred and compatible format Before your favorite social media platforms or streaming sites like Youtube or Netflix make videos available to you, they will turn this video into several formats to support various devices such as smartphones. , laptop and computer, TV and others, because each has different capabilities. Some videos may fail to play through a slow internet connection, this type of video also needs to be converted into a lighter format in order to be smooth.

Recently, the world has seen a tremendous increase in the media industry, from video advertising to streaming media, yet, due to the high cost of cloud transcoding services, it is very challenging for start-up companies and low-budget companies that need it. services.

Since the emergence of cloud technology, the transcoding industry has grown on a very large scale. We are famous for companies like Netflix, Amazon Prime, Vimeo, Youtube, and e.t.c, who transcribe terabytes of data every day, investing a large amount of their revenue on media file conversions. The current report also predicts that, by 2019, the transcoding market will grow by 15 percent CAGR globally, reflecting the enormous scope to grow.

The concept of transcoding has always been limited to the conversion of video and audio files, however, it has a larger extension 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 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 the 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 as queued, 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 formats.

Market Overview

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

The customer can select where to export the files after processing, 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 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.

In the Transcodium road map is the wallet plan. The wallet is said to include a feature which would connect to exchanges, making token conversion easy for workers. I thought this was a nice add on. The Transcodium token (TNS) is an ERC20 standard token.