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 which can be exchanged into any currency or can be sold to customers (initiators) who need these tokens for use on our platform.
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 at 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.
Structure
Problems
With the current cloud transcoding platforms, the below problems and limitations were identified:
With the current cloud transcoding platforms, the below 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.
Token
TNS token/coin is the official Transcodium's virtual currency used on the Transcodium Platform. It is based on the Ethereum blockchain (ERC-20 Standard), Workers (Miners) will be paid with the TNS after a successful transcoding.
TNS token/coin is the official Transcodium's virtual currency used on the Transcodium Platform. It is based on the Ethereum blockchain (ERC-20 Standard), Workers (Miners) will be paid with the TNS after a successful transcoding.
Token Sale
- Name: TNS
- Pre Sale Period: 07/01/2018 00:00 UTC to 28/02/2018 00:00 UTC
- Supply: 120,000,000 TNS
- For Sale: 86,400,000 TNS
- Emission Rate: No new tokens will be created
- Accepted Currencies: ETH, BTC, LTC, BCH
- Minimum goal: $500,000 USD
- Maximum goal: $30,000,000 USD
- Token price: 1 TNS = $0.376 USD
On the Transcodium roadmap is a wallet plan. The wallet is said to include features linked to the exchange, making the token conversion easy for workers. I think this is a great add. Transcodium Token (TNS) is a standard token of ERC20.
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