All about Cryptocoins: Transcodium is the first decentralized blockchain based file transcoding in the world

Foreword

Recently, the world has seen a tremendous increase in the media industry, from video advertising to streaming media, yet, due to the high cost of cloud transcoding services, it is very challenging for start-up companies and low-budget companies that need it. services.

Since the emergence of cloud technology, the transcoding industry has grown on a very large scale. We are famous for companies like Netflix, Amazon Prime, Vimeo, Youtube, and e.t.c, which transcribe terabytes of data every day, investing a large amount of their revenue on media file conversions. The current report also predicts that, by 2019, the transcoding market will grow by 15 percent CAGR globally, reflecting the enormous scope to grow.

The concept of transcoding has always been limited to the conversion of video and audio files, however, it has the larger extent to take any type of file like PDF, HTML, Word Document and converts it into any possible preferred format.

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 problem faced today

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.

General Structure

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.

Workers periodically send updates to the master nodes about their status, this information sent includes their processing power, internet speed, conversion time and device information. The TNS regulator uses this information together with proof of stake and other factors to randomly select idle workers for processing data. This also enables the network to group workers based on their performance.

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

The image above explains the operation of a master node and workers on the Transcodium network

What is Transcodium ?

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. This will create a global market for users, willing to rent their idle machines to be used as workers. Further, at the end of the processing, the worker (processor) will be rewarded with the TNS Tokens.

The TNS token is a UTILITY token meant to be used on the Transcodium Platform. It is not a SECURITY, SHARE or a BOND.

Here is a snapshot of a project presentation on Transcodium:

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.

Apps & Features

Why Invest in Our Company ?

Registered & Verified
Before the company is issued with EV SSL (Green company name in the address bar), the company must pass a series of verifications such as Legal Existence and Identity, Trade Name, Operational Existence, Physical Presence and information delivery. about all the directors. We got through all the exams.

Existing product
Our company already has existing products on transcoding and media distribution, our plan is to rebuild this platform using blockchain and decentralized technology, this will help provide cheaper but reliable transcoding services to customers. This can be achieved only by expanding our team that requires a lot of funds.

Existing market
The transcoding industry is one of the fastest growing fields, this is one of the reasons why giant companies like Google and Amazon are entering this field.

The good news is, the size of the global video transcoding market is expected to grow from USD 3.25 Billion in 2017 to USD 7.50 Billion by 2022.

Token Distribution

Total Supply 120,000,000
Token Sales ( 72% )
Bonuses & Discounts ( 4% )
Advisors & Partners ( 4% )
Bounty ( 1% )
Team Members ( 10% )
Marketing (Present & Future), funding of trial accounts for customers & platform testers ( 9% )

Funds Allocation

Soft Cap $500,000 USD
Hard Cap $30,000,000 USD
Project Development ( 50% )
Company Expansion ( 3% )
Marketing & Brand Awareness ( 20% )
Operational Expenses ( 15% )
Legal & Insurance ( 10% )
Miscellaneous Budget ( 2% )

Bonuses & Discounts

Number of token sales Offer Price per token

5,710,000 (Presale) 30% Discount $0.263 USD
6,680,000 20% Discount $0.300 USD
22,190,000 10% Discount $0.338 USD
25,220,000 5% Discount $0.357 USD
26,600,000 0% Discount $0.376 USD

Token Details

Role of Token : Represents processing power used for file conversion
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
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 Info.
1 TNS = $0.376 USD
1 BTC = 38312.33333333 TNS
1 ETH = 4025.83333333 TNS
1 LTC = 620.09666667 TNS

*Prices are calculated using current exchange rate

Roadmap

2015

MARCH First Cloud version of platform created

2016

JANUARY Decision to adopt blockchain & Decentralized technology over centralized cloud
APRIL Research & Analysis into the blockchain & Decentralization technology
NOVEMBER Drafting of white paper

2017

JULY Company Registration & Legal Processing Commenced in UK

2018

JANUARY Token Pre-sale
MARCH Public Crowd funding
JULY Development of wallet (with built in exchange and miner) for major platforms (Android, Windows & Linux)
DECEMBER Development of master node application for major platforms

2019

JULY First beta testing of platform & the provision of fully paid premium accounts for investors,token holders, brands, startup to try the platform for 1 month.
NOVEMBER Production commence for the platform

Core Team