First Blockchain based & Decentralized transcoding platform.. Transcodium ICO rating – not rated.
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PRE ICO Dates : 07/01/18 – 28/02/18
About Transcodium ICO (token sale)
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.
Transcodium will provide APIs, Console and GUI Applications for customers to aid in a rapid transcoding process. Before processing starts for each transcoding request, the initiator (customer) will be provided with the estimated cost for approval, once approved, the initiator’s wallet will be debited for the processing to commence.
The file transcoding process includes two parties, master nodes, and workers. Master nodes receive the transcoding request, they then split large media files into chunks when necessary, encrypts these chunks and forward them to workers.
Workers, on the other hand, are responsible for converting the file into the new format. Any device can be a worker, but not a master node. A master node must have a faster processing power and a strong internet connection. A master node can also serve as a worker simultaneously. Master nodes are rewarded with 20% of the transcoding cost whilst 80% is shared amongst the workers. The master nodes are also responsible for joining the chunks when needed.
With the current cloud transcoding platforms, the following 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.
OUTLINED SOLUTIONS TO THE PROBLEMS
Here are the proposed solutions to the problems above:
- 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.
TOTAL SUPPLY (TNS token) : 120,000,000
Token Sales (72%)
Bonuses, Discounts and ICO expenses (4%)
Advisors & Partners (4%)
Team Members (10%)
Marketing (Present & Future), Provision of trial accounts for customers and platform testers.
Token Type : Ethereum ERC-20 Compliant
Price Per Token : $0.376
Minimum Purchase : 10 TNS – $3.76