Transcodium - Platform Media Editing Directly, Transcoding

Transcodium is a decentralized transcription and editing media file. The use case of tokens allows those with idle devices to lease computing power (in exchange for tokens) and those who need to lease out the power will pay tokens. The workers (leased unemployed computing power) will receive a small snippet of a file, broken down by the Transcodium algorithm, and convert the file into a more compatible format. Stopping workers with more computing power and a better internet connection will get the master node status to do more work. Before the work will begin the estimated cost will be given to prospective customers. I like the idea of an estimate so customers will not be surprised at the cost.

Transcodium aims to provide the first, leading-edge, decentralized blockchain peer-to-peer media for transcribing, editing and high quality 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 transcoding process, the worker (processor) will be rewarded with TNS tokens that may be exchanged for any currency or may be sold to customers who require this token to be used on our platform.

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 convert these videos into multiple formats to support various devices such as smartphones, laptops and computers, TVs and others, because each has different capabilities. Some videos may fail to play over a slow internet connection, this type of video also needs to be converted into a lighter format in order to stream smoothly.

PROBLEM

With the current transcoding platform, issues and limitations can be identified:

The cloud transcoding platform is too expensive and weighs on starups, which require their services. Companies have to spend more than half their revenue just to process these media files, this is certainly sad.

The processing time is very long due to hardware limitations. The cloud transcoding platform has limits on hardware, therefore, all files must be queued up for processing, until the time is processed, causing frustration of customers pending processing.

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.

SOLUTION

Here is a solution offered for the above problems:

Blockchain and decentralized technologies are a cheaper and reliable alternative to cloud transcoding.

Due to the unlimited processing power, due to the worker's role, the files will be transcoded in very fast speed, eliminating long queues and waiting times.

Transcoding 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.

TRANSPARENCY

Utilization 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 particular task on the network.

PROPRIETARY PROOF

To achieve a better decentralized consensus, the Transcodium network uses a type of proprietary evidence algorithm in which workers are randomly selected based on their portfolio and account age. It helps in selecting workers with a quality processing power that saves time and money.

PROOF CONVERSION

Evidence of the conversion between the central node and the worker states that, an employee must complete his duties within the given time, during processing the data, the worker sends the developments to the method, the worker must process the data completely before the deadline on the assignment mark will be canceled or inactive and will pay other workers who are preparing to take over.

The deadline is set based on the transcoding activity being done 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 random selection of workers and balancing between initiators and processors.

Market Overview

The transcodium network will allow customers to harness unlimited processing power with very cheap compensation for the task. Customers will be able to choose the price of the price range provided by TNS regulations, the higher the price the faster the file conversion and vice versa.

Customers can choose where to export the files once they are processed, destinations like facebook, youtube, twitter, SFTP, Amazon AWS, Google Drive and others will be supported. Multiple destinations are supported. The first goal is always free, the other next destination will be the cost that will be given to the master node that process it.

Before processing any file is initiated, the application will calculate the total cost to be received by the proponent, once approved, the initiator wallet will be debited. The debited amount will be refunded if the processing fails. The customer will need a TNS token to pay for each transaction on the network.

On the Transcodium roadmap is a wallet plan. The wallet is said to include features that connect 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.

TOKEN DETAILS

Role of Token- Represents processing power used for file conversion

Ticker- TNS

Blockchain- Ethereum

Token Standard- ERC20

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

Pre Sale Period- 07/01/2018 00:00 UTC to 28/02/2018 00:00 UTC

Minimum goal - $ 500,000 USD

Maximum goal - $ 30,000,000 USD

DISTRIBUTION TOKEN

Total Supply 120,000,000

Sales Token (72%)

Bonuses & Discounts (4%)

Advisors & Partners (4%)

Bounty (1%)

Team Members (10%)

Marketing (Present & Future), funding of trial accounts for customers & platform testers (9%)

FUNDS ALLOCATION

Funds Allocation Image

Soft Cap $ 500,000 USD

Hard Cap $ 30,000,000 USD

Project Development (50%)

Company Expansion (3%)

Marketing & Brand Awareness (20%)

Operational Expenses (15%)

Legal & Insurance (10%)

Miscellaneous Budget (2%)

The existing business team is a double-edged sword as far as potential goes. There is always an opportunity for failure in ICO or TGE. I hope Transcodium has learned from past failures, and although their white papers make the case that they have solved their problems at the moment, his theories are fair. Personally I like the idea of being able to use the platform to generate additional revenue by using the computing power of my old device, so I want to see the project be successful.