Transcodium - the first peer-to-peer decentralized file editing

Februar 27, 2018

Transcodium - the first peer-to-peer decentralized file editing

What's Transcodium?
Transcodium aims to provide the first peer-to-peer decentralized file editing, transcoding 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. Further, at the end of the processing, the worker (processor) will be rewarded with the TNS Tokens. The TNS token is the official UTILITY (not a Security, bond or share) token which is meant be used on the Transcodium Platform once the platform is launched.

The global video streaming software market size is expected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022. 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.

Transcodium Review

Recently, the world has seen a remarkable improvement in the media industry, i.e. from video advertising to media streaming, however, due to the high cost of cloud transcoding services, it has been very challenging for startups and companies on a low budget who needs these services.

Since the emergence of cloud technology, the transcoding industry has grown at a very large scale. We are well known to companies like Netflix, Amazon Prime, Vimeo, Youtube, and e.t.c, who transcodes terabytes of data on daily basis, investing a large amount of their revenue on media file conversion. The current report also predicts that, by the year 2019, the transcoding market will grow by 15 percent CAGR globally, which reflects a huge scope to flourish.

The concept of transcoding has always been limited to the conversion of video and audio files, however, it has the larger extent 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 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.

Transcodium started as medianap in 2015 with a visual cloud transcoding and media editing platform, but we 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. Click here to track our history or Click to try our product, also, Verify Transcodium Ltd. here

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.