Video content is taking over the world, and so is transcoding
Today, the most popular form of entertainment is videos, either on social media or on pages such as YouTube or Netflix. Just on YouTube alone, more than 300 hours of content is uploaded every single minute. This means that a whole ton of content is being transcoded all the time, and not just on YouTube, but on almost every site that features video content. But even private users have to transcode their works, something most viewers probably don’t realize. This process is not a simple task for the computer and can take a very long time if you don’t have a powerful one. But there is also a problem with the current way many companies transcode their content. They use a technique called cloud transcoding which has its downsides, a major one of those is that it isn’t cheap, so smaller companies can’t start using it. However, Transcodium, a new tech startup believes that they have found the solution to this very problem through the use of blockchain technology. They are creating a global decentralized transcoding platform, on which users can share their computing power with people who need to transcode something and in return receive a reward. You could almost call this a new kind of mining, as you, in the same way, receive rewards for using your computing power.
More than just a transcoding network
Besides from providing users the ability to use the computing power of lenders, users will also be able to process and edit their video content in Transcodium’s very own editing software. When the product is finished, they can even choose where they want they work to be stored, be it in online drives or directly onto social media platforms like Facebook, Twitter or YouTube. This makes it even cheaper for creators to carry out their work as they don’t have to spend money on additional storage.
Users who lend their computing power to the platform, receive their reward in Transcodium’s own ERC20 token, the TNS token. To access different services on the Transcodium platform, you have to use TNS tokens, which creates a natural demand for TNS as the popularity of the platform grows.
To fund their project, Transcodium is raising funds through an initial coin offering (ICO), selling their ERC20 token TNS. The TNS token is going to be used within the Transcodium platform both for purchasing services and as a reward.
The token sale started the 7th of January
The token sale ends the 30th of April
1 TNS = 0.263-0.376 USD (Depending on the number of tokens sold, see chart below)
- Total amount of tokens minted is 120,000,000 TNS
- A maximum of 86,400,000 TNS will be for sale during the ICO
- Hard cap is 30,000,000 USD
- Soft cap is 500,000 USD
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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