TRANSCODIUM THE FUTURE OF TRANSCODING

HISTORY OF TRANSODIUM

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.

JOIN US IN:

[ TWITTER ][ FACEBOOK ][ GITHUB ][ TELEGRAM ]

AND

{WEBSITE} {ANN} {WHITEPAPER}

Transcodium is an ICO that caught my attention because of its existing business and practical application.

While I plan to apply for a bounty on this post I feel that it is important to give my honest unprofessional opinions on the project. The first thing I came to understand when looking into Transcodium is that they have an existing business (Medianap) which failed. I do like the project and I'm going to get into potential good points further down, however I think its important to be clear about the business history. Failure is part of life and learning from past problems can add valuable experience to future endeavors. The team seems to think they can correct the problems which led their business to failure using blockchain technology. Originally the cloud was used, which was more expensive and an overall drain on resources. Transcodium seems to think that using a blockchain as opposed to cloud technology would be more efficient, cost effective, and eliminate down time.

So what exactly is Transcodium?

Transcodium is a decentralized media file transcoding and editing platform. The token use case allows those with idle devices to rent out computing power (in exchange for tokens) and those who have need to rent that power will pay in tokens. The workers (rented out idle computing power) would receive small chunks of a file, which is broken down by Transcodium algorithms, and convert the file into other more compatible formats. Idle workers with more computing power and better internet connections would gain a master node status for doing more work. Before work would commence an estimate cost will be provided to potential customers. I like the idea of estimates so that customers wont be surprised by the cost.

In the Transcodium road map is the wallet plan. The wallet is said to include a feature which would connect to exchanges, making token conversion easy for workers. I thought this was a nice add on. The Transcodium token (TNS) is an ERC20 standard token.

is a transcoding platform that 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.

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.

The teams existing business is a double edged sword as far as potential goes. There is always the chance for failure in any ICO or TGE. I hope Transcodium has learned from past failures, and although their white paper makes the case that they have solved their problems at this point its just theory. Personally I like the idea of being able to use the platform to generate some extra income by using the computing power of my old devices, so I want to see the project become successful.

Listed below are links for you to look through in order to form your own opinion and do your own due diligence.

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.

The Transcoding Solutions :

- 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.

initiators have the free will to select from a price range of $0.006 to $0.01 per minute for an SD quality video output and $0.008 to $0.020 per minute for an HD video quality output. Non-video files such as audio will have the price range of $0.006 to $0.001 per minute of output. Files such as images and documents (PDF, word and etc) cannot be measured in time (minute), so they will be measured according to their size in megabyte. A megabyte of a file will have the price range of $0.006 to $0.01 per output unit.

To enable fairness on the network, the highest paid task will be assigned to the best performing workers to help provide the initiator value for the money paid.

Transcodium Token Sale

Token Symbol : TNS

Blockchain : Ethereum Token Standard ERC20

Token Supply : 120,000,000 TNS

For Sale : 86,400,000 TNS

Emission Rate : No new tokens will be created

Accepted Currencies : ETH, BTC, LTC

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

Price :

1 TNS = $0.376 USD
1 BTC = 45517.28723404 TNS
1 ETH = 2759.38829787 TNS
1 LTC = 807.1143617 TNS

Transcoding App & Features :

· Mobile Wallet + Miner

· End to End Encryption

· Builtin Exchange in Apps

· Lend TNS coins to Workers (Miners)

· Ultra Fast Transcoding

· Console, Api & Visual Editing Studio

The transcoding process starts when a master node receives a request from the initiator, the master node will then analyze the file, split large media files into smaller chunks, encrypt them and distribute them to idle workers with instructions.

The workers will process the file based on the instruction attached to the file or chunk. After the processing is done, the worker will send the processed file or chunk to the master node to join if required. The pricing system on the Transcodium network is maintained by the TNS regulation. The TNS regulation is an autonomous algorithm which brings balance between processors and initiators thereby making both parties happy.

TEAM & ME