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Transcodium – A Decentralized Peer-to-Peer Media Editing, Transcoding & Distribution Platform

Transcodium aims to provide the first peer-to-peer blockchain based and decentralized media transcoding, editing and distribution platform with high quality and reliable computational power at a very affordable price. This will create a global market for users, willing to rent their idle machines to be used as workers (miners). Further, at the end of the transcoding process, the worker (processor) will be rewarded with the TNS token.
Transcodium started as medianap in 2015 with a visual cloud transcoding and media editing platform, but went out of business due to the high cost of cloud servers, they could not compete with the existing platforms and had to switch to another business. In 2016, their 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 automated without human intervention.

Transcoding is the process of converting from one file format to another desirable and compatible format. Before your favourite social media platform or streaming site such as YouTube or Netflix makes a video available to you, they need to convert this video into multiple formats in order to support different devices such as smartphones, laptop and desktop computers, TVs and more, since each of them have different capabilities. Some videos might even fail to play over a slow internet connection, these type of videos will also need to be converted into a lighter format for a smooth streaming.

IDENTIFIED PROBLEMS

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.

TOKEN SALE

Transcodium intended to use funds received during TNS token sale for further development of the project, payment of salaries and future
expenses. This will help accelerate development and also enable the team to work full time with total commitment. During TNS token sale, purchasers will be provided with the TNS token within two weeks after the end of Token sale; provided, that this term maybe extended due to unforeseen circumstances. Payment method will be in Bitcoin, Ethereum, or Litecoin or other currency (cryptocurrency) as may be additionally introduced by the Transcodium.
The TNS token may be used as a medium of payments for services on the Transcodium platform and other Transcodium based products. After token sale & distribution, the TNS token will have an immediate usage on the cloud transcoding platform until the the decentralized version of the transcoding platform is completed.


For more information,visit the Website or read the Whitepaper.

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