Transcodium - The Future of Transcoding, Media Editing, Transcoding & Distribution Platform

Januari 31, 2018

ABOUT

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.

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 autonomous without human intervention.

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 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.

THE SOLUTION

The blockchain and decentralized technology model enables the provision of a cheaper and reliable alternative to cloud transcoding.

Due to the unlimited processing power, all thanks to the workers,files will be transcoded in a very fast speed, eliminating long queues and waiting time.

A single transcoding request will be processed by multiple nodes and workers, so the outage of one node or worker will have no effect on the process, making it more efficient and time-saving.

Transcoding will not be limited to audio and videos only, but also other file formats such as images and documents

MARKET OVERVIEW

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

The customer can select where to export the file after processing,destinations such as facebook, 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 compute the total cost for the initiator to 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.

TRANSCODIUM ( TNS )

TOKEN TNS token is an ERC-20 compliant ethereum based token which is designed to work on Transcodium network. The token will be the official currency to be used on the network. The total supply of the TNS token is 120 million and has a maximum of 18 decimal places. This is a fixed supply and will not decrease or increase, the decision of the total supply was made by the Transcodium team and founders. The limited supply will help improve the quality of the coin. The transcoding industry has a huge market, so the limited coin supply is a great advantage for both investors and marketers in the near future.

TOKEN GENERATION EVENT (TGE)

Transcodium will raise funds for development of the project, payment of salaries and future expenses through the token distribution event. This will help accelerate development and also enable the team to work full time with total commitment. During the token distribution event, Participants will be given the TNS token after they have made payment. Payment method will be in Bitcoin, Ethereum,Bitcoin Cash or Litecoin. The TNS token is meant for only usage on our platform, No rights given to token holders. The pre token distribution event starts on January 7th, 2018 and ends on February 28th, 2018. During this period early participants will be given a discount of 30% for the first 5,710,000 tokens to be sold. Any unsold tokens after the pre token generation event will be moved to the main token distribution event and will have the same bonus terms as the main token distribution event. Moreover, all unsold tokens after the main token generation event will be burned hence reducing the token supply. Participants will be refunded if the soft cap is not reached after the main token distribution event. Tokens reserved for team members will be locked until 3 months after main token distribution event. Also, team members will receive only 25% of their tokens after every 3 months interval.