Transcodium-handle all the 3 p's (privacy, pricing, and processing power)
Transcodium Review
Recently, the world has seen a remarkable improvement in the media industry, from video ads into streaming media, however, because of the high cost of cloud transcoding service, it has been very challenging for beginners and companies on a budget in need of such services.
Since the advent of internet technology, the industry has grown in the transcoding scale is enormous. We are well known to companies such as Netflix, Amazon Prime, Vimeo, Youtube, and etc., which transcodes terabytes of data on a daily basis, invest a substantial amount of its revenue on a media file conversions. The report also predicts that, in the year 2019, the transcoding will grow by 15 percent CAGR globally, reflecting the huge scope for growth.
The concept of transcoding is always limited to the conversion of video and audio files, however, have a larger level to take all types of files such as PDF, HTML, Word document and convert it to the format option may beTranscodium will handle all of the 3 p's (privacy, pricing, and processing power) in the example, there will be limits on how much processing power of Transcodium will be able to generate from the network. Transcodium network will be available to customers of the target at a cheaper price than the current market price.
Transcodium's unique algorithm will allow conversion of media files in the supersonic speeds by splitting large media files into pieces that are very small and will then be encrypted, compressed and sent to the worker (idle device) to process. Because each piece is light, these duties will be transferred and processed at a speed very fast, even smartphones will be able to process them. The token will be rewarded for any workers who complete the task before the deadline allotted.
Problem
Cloud transcoding platform is too expensive and scare a startups, who need their services. Existing companies must spend more than half of their income just for processing media files, which is not very encouraging.
The length of time the process because of limited hardware. Cloud transcoding platform has a hard limit on the hardware, therefore, all the files are processed is queued, up until the time they are scheduled for processing, which led to frustration on the side of customers waiting for processing.
Due to the centralized nature of the platform, server outage or downtime can cause failure of the entire process of transcoding is a waste of time, money and resources.
Most platforms only limited format transcoding media files, making it very difficult to convert formats such as images and documents in other formats.
Solutions
Blockchain and technology of decentralized model allows the provision of cheaper alternative and reliable to cloud transcoding.
Due to the limited processing power, all thanks to the workers, the file will be transcoded quality downgraded in speed very quickly, eliminate long queues and waiting time.
A single request transcoding will be processed by multiple nodes and workers, so that one node outages or the workers will have no effect on the process, making it more efficient and save time.
Transcoding will not be limited to aud
Market overview
Transcodium network would allow customers to take advantage of the unlimited processing power compensation are very cheap for the task. Customers will be able to choose a price from the price range provided by the rules of TNS, the higher the price of the fast file conversion and vice versa.
Customers can choose where to export the file after processing, the purpose of such as facebook, youtube, twitter, SFTP, Amazon AWS, Google Drive and etc will be supported. Some goals are supported. The first goal is always free, next other destinations will attract a fee that will be appreciated for the master nodes to process.
Before processing the file starts, the application will calculate the total cost for the initiator to agree, once approved, the initiator's purse will be debited. The amount debited will be returned if the processing failed. Customers will need to pay token TNS for any transactions on the network.
TRANSPARENCY
The utilization of smart contracts will allow transparency in the network, important information such as the duration of the file, the number of initiated and the amount paid to the workers will all be there in the ledger (ledger). Customers and employees can check how much it cost or paid for specific tasks in the network.
EVIDENCE FROM the Owner
To achieve a consensus that better decentralized, network Transcodium using this type of algorithm is proof of ownership where workers are selected randomly based on the portfolio and the age of their accounts. This helps in selecting the workers with the processing power of a quality so as to save time and money.
PROOF OF CONVERSION
Proof of conversion between the central node and workers declared that, a worker must complete its work within the allotted time, during processing the data, sending workers to the development of the masternode, workers must complete process data before the deadline on the task will be canceled or inactive and will give paid to other workers preparing to take over.
The time limit is set based on the level of the transkoding activity and the size of the data being processed. The contracts pay the workers after mentranskode and send a file. The job is considered completed after the file is uploaded and verified by the central node. Conversion will be supported by smart contracts. Evidence of the conversion along with evidence of stock to make regulation of TNS are responsible for making a random selection against workers and balancing between the initiator and the processor.
Informasi Selengkapnya
WEBSITE : https://transcodium.com/?lang=en
WHITEPAPER : https://transcodium.com/files/whitepaper.pdf
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