Public Crypto BLOG: Transcodium - The Transcoding Platform with Decentralized Blockchain

Hi you there my fellow reader, back again with me. Cryptocurrencies nowadays has gained much popularity. Today im gonna write about Transcodium.

Transcodium 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.

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.

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.

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.