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.
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. 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.
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.
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
Website : https://transcodium.com
Whitepaper : https://transcodium.com/files/whitepaper.pdf
Twitter : https://twitter.com/transcodium
Facebook : https://www.facebook.com/transcodium/
Bitcointalk profil : https://bitcointalk.org/index.php?action=profile;u=1289068;sa=summary
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