TRANSCODIUM - Creating Global Market For Users
Hello All, In this post I will introduce about Transcodium project and for more details let's just go to the following discussion:
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 may 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 again but this time using 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 desired 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.
With the current transcoding platform, problems and limitations can be identified:
The cloud transcoding platform is too expensive and weighs on starups, who need their services. Companies have to spend more than half their income just to process this media file, this is certainly sad.
The processing time is very long due to hardware limitations. Cloud transcoding platforms have hardware restrictions, therefore, all files must be queued up for processing, until the time is processed, leading to frustration of pending processing customers.
Due to the centralized nature of the platform, server outages or downtime can cause the overall failure of this transcoding process to be a waste of time, money and resources.
Most transcoding platforms are limited to media file formats, making it very difficult to convert other formats such as image and document formats.
Here are the solutions offered for the above issues:
Blockchain technology and decentralization are cheaper and reliable alternatives to cloud transcoding.
Due to unlimited processing power, due to worker roles, files will be transcoded in very fast speed, eliminating long queues and waiting times.
Transcode requests will be processed by multiple nodes and workers, so a one-node or worker outage will have no effect on the process, making it more efficient and time-saving.
Transcoding is not limited to audio and video only, but also other file formats such as pictures and documents.
The use of smart contracts will allow transparency on the network, important information such as file duration, the amount initiated and the amount paid to the worker will all be in the ledger. Customers and workers can check how much it costs or get paid for a specific task on the network.
To achieve a better decentralized consensus, the Transcodium network uses a kind of proprietary proof algorithm where workers are randomly selected based on the portfolio and age of their accounts. It helps in selecting workers with quality processing power that saves time and money.
The proof of conversion between the central node and the worker states that a worker must complete his duties within a certain time, during processing the data, the worker sends progress to the method, the worker must process the data completely before the deadline of marking will be canceled or inactive and will pay the worker others are preparing to take over.
The deadline is set based on the current transcode activity and the size of the processed data. The contract pays the worker after transcoding and sending the file. Work is considered completed after the file is uploaded and verified by the central node. Proof of conversion will be supported by smart contract. Proof of conversion along with stock evidence makes the TNS regulation responsible for randomly selecting workers and balancing between initiators and processors.
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