Finally, the platform aims to counter the rising costs for media companies thanks to the transition from broadcast deliver to fast-growing IP-based options. In broad strokes, VideoCoin is a distributed computing project that aims at storing, encoding, and streaming video at an affordable, efficient, and sustainable rate. VideoCoin aims to utilize unused or underutilized computers in data centers to facilitate the powering of the network. As mentioned, developers will be able to create applications thanks to VideoCoin’s open-source nature and APIs.
VideoCoin does have a great deal of potential considering the solid team behind the project and the significant percentage of internet traffic that is dedicated to videos, undoubtedly making this a project to watch. Via its ecosystem, VideoCoin addresses all of these concerns, improving the existing video service platforms in innovative ways. The team expects the costs to drop somewhere between 50 and 80 percent by taking advantage of previously unused compute resources. To further lower costs and improve efficiency, VideoCoin will get rid of the intermediate market oligarchs, instead allowing for peer-to-peer processing, storage, and distribution of videos.
Benefits offered by VideoCoin Network
VideoCoin specifically aims to overcome obstacles due to regulations, specifically the fact that the quality of service from video service providers can be impacted by deregulation and regulation moves. The project also aims to overcome issues related to What is VideoCoin privacy, namely that consumption and distribution transaction records are transparent to government entities and providers. Many streaming video services allow you to pick and choose the features and functions you want, and only pay for those selections.
You have to create an account on the exchange or buy ledger and transfer VID tokens to the wallet. Once you select a validator, it’s time to delegate your assets. Two other parts that were sort of key catalysts was one, realizing that there’s 20% to 30% of servers that sit in data centers that are totally unused. If they were to mine bitcoin or some other currency, they would need to buy special cards, but all computers have a video encoder.
Blockchain VR Network
The key variable in most cases is the streaming platform you use. Always check what formats and codecs are supported by the platform you wish to use, and whether your video file must be converted to a supported format. For example, https://www.tokenexus.com/ you’re preparing to do a live stream from your office. It’s a possibility that you’re capturing webcam audio and video with a browser-based desktop application like Adobe Flash, which generates 1080p H.264 video and Speex audio.
Many of the advantages of VideoCoin over existing video service providers are due to its leverage of the blockchain, which it does in several ways. Both encoding and storage are done via the blockchain, as these tasks get submitted to the network along with parameters for encoder configuration. Miners compete against each other to win bids and deliver the storage space or compute power. Using the CDN configuration parameters, distribution and retrieval tasks get submitted to the network.
What is Videocoin?
One thing to point out was in the early days of Salesforce, everybody said, hey, it’s cheaper. What I did, there will be an ecosystem that will develop around Salesforce and Salesforce will end up being far more innovative than the software you’re buying for client server. We have our own camera, we have our own cloud, we have our own software. The cloud ingests this video, which is really kind of 4K video. Then it has to process it to send it to Facebook or to YouTube or to Samsung Galaxy Gear or to Oculus.
A validator node can be added to the pool by staking coins and it get a source of income without needing powerful mining hardware. Anytime that you can reduce the cost of something, you unleash new forms of innovation. You’ve got the HD going to 4K going to HK and then you’ve got things like VR video, which we know very well.