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Transcodium – A Decentralized Peer-to-Peer Media Editing

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. 

ABOUT

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.

GENERAL COMPOSITION

The integrity will be maintained by the proof of conversion. To get the reward, the peer has to submit a proof of conversion before the assigned timeout else the network will mark the task as aborted.

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.

Data transfer between the master node and a worker will have an end to end encryption for maximum privacy and security.

Operation of a master node and workers on the Transcodium network.

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TRANSPARENCY ON THE NETWORK

The use of smart contract will enable transparency on the network, vital information such the file duration, the amount the initiator was charged and the amount paid to workers will all be on the public ledger.

PROOF OF STAKE ACTIVITY

To achieve a better-decentralized consensus, the Transcodium network employs the proof-of-stake type of algorithm where workers are randomly selected based on their wealth and age of account.

PROOF OF CONVERSION PROCESS

The proof of conversion agreement between the master node and a worker states that, a worker has to complete its task within the given time range to receive the reward, during processing of data, the worker sends progress update to the master node, the worker must complete processing the data before the assigned timeout else the network will mark the task as aborted or inactive and will award that same task to the next available idle worker.

WORKERS AND TRANSCODIUM APP

Workers are idle devices responsible for processing data on the network. Any device with an internet connection and capable of installing their application can be a worker.A worker can earn more rewards if it has higher specifications such as a multi-core device or GPU based devices.

CUSTOMERS FLEXIBILITY

Transcodium network will enable 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.

Customers or initiators will have three types of interface to ease the conversion process:

  • An API interface to help developers integrate into their projects or apps
  • The command line interface will be for basic functionality and
  • The advanced visual studio media editing app for complex media editing needs.

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.

( TNS ) TRANSCODIUM  TOKEN

TNS token is an ERC-20 compliant Ethereum based token which is designed to work on Transcodium network. The token will be a mean of payment within the network.

EACH TOKEN OFFERS THE FOLLOWING RIGHTS TO ITS HOLDER:

  • Right to transaction Each token holder holds the right to send or receive tokens from one to another.
  • Right to services Each token holder holds a right to get the services made available by the company for the token, such as media transcoding, file distribution etc.

TOKEN FINANCE

Transcodium intended to use funds received during TNS token sale for further development of the project, payment of salaries and future expenses.

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
Minimum Goal $500,000 USD
Maximum Goal $30,000,000 USD

 

 Read more: Whitepaper

Website: transcodium.com

ANN: https://bitcointalk.org/index.php?topic=2571769.0;all

 

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