Transcodium - A Decentralized Peer-to-Peer Media Editing, Transcoding & Distribution Platform
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 tokens which can be exchanged into any
currency or can be sold to customers (initiators) who need these tokens
for use on our platform.
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.
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.
Did You Know: By 2019, internet video traffic will account
for 80% of all consumer Internet traffic
The integrity will be maintained by the proof of conversion. To get the
reward, the peer has to submit a proof of conversion before the assigned
timeout else the network will mark the task as aborted. Human interaction
is not required for completion of the entire transaction.
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
These chunks will be so small that they will be transferred to the worker in
a little amount of time even on a slow internet connection. Due to the little
size of this chunk, smartphones will be capable of processing them.
Data transfer between the master node and a worker will have an end to
end encryption for maximum privacy and security.
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 master node will then execute its final task by exporting the output to
it destination. Multiple destinations are supported. The first destination
will always be free, but an additional destination will attract a fee which
will be rewarded to the master node.
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
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
The image above explains the operation of a master node and workers on
the Transcodium network
The use of smart contract will enable transparency on the network, vital
information such the file duration, the amount the initiator was charged
and the amount paid to workers will all be on the public ledger. Customers
and workers can always check how much they have been charged or paid
respectfully for a specific task on the network.
PROOF OF STAKE
To achieve a better-decentralized consensus, the Transcodium network
employs the proof-of-stake type of algorithm where workers are randomly
selected based on their wealth and age of account. This helps in selecting
workers with quality processing power thereby saving time and money.
PROOF OF CONVERSION
The proof of conversion agreement between the master node and a worker
states that, a worker has to complete its task within the given time range
to receive the reward, during processing of data, the worker sends progress
update to the master node, the worker must complete processing the data
before the assigned timeout else the network will mark the task as aborted
or inactive and will award that same task to the next available idle worker.
A dynamic timeout is set on all transcoding activities based on the
performance of the worker and the size of data to be processed. The
contract pays a worker after a successful transcoding and submission of
file.A task is deemed completed after the processed file is uploaded and
verified by the master node.The proof of conversion will be backed by a
smart contract. The proof of conversion together with the proof of stake
makes the TNS regulation which is responsible for making a smart random
selection of workers and bringing balance between initiators and
Workers are idle devices responsible for processing data on the network.
Any device with an internet connection and capable of installing our
application can be a worker. A worker can earn more rewards if it has
higher specifications such as a multi-core device or GPU based devices.
Once a device installs the Transcodium app, it becomes part of the
Transcodium network, an initial device assessment will be made to help
rank the device as part of the TNS regulations.
After a successful task, workers are rewarded with 80% of the total amount
paid in TNS token whilst 20% goes to the master nodes responsible for
processing the final output and distribution
Transcodium network will enables customers to avail unlimited processing
power in a very cheap compensation for the task. Customers will be able to
select a price from the range of prices provided by the TNS regulation, the
higher the price the faster the file conversion and vice versa.
Customers or initiators will have three types of interface to ease the
1. An API interface to help developers integrate into their projects or
2. The command line interface will be for basic functionality and
3. The advanced visual studio media editing app for complex media
The customer can select where to export the file after processing,
destinations such as facebook, youtube, twitter, SFTP, Amazon AWS,
Google Drive and etc will be supported. Multiple destinations are
supported. The first destination is always free, other subsequent
destinations will attract a fee which will be rewarded to the master node
Before processing of any file commence, the application will compute the
total cost for the initiator to approve, once approved, the initiator’s wallet
will be debited. The debited amount will be refunded if processing fails.
Customers will need the TNS token in order to pay for any transaction on
Transcodium will provide SDKs & APIs for using or accessing data on the
network. Developers can build their own software or service around it.
Use Case 1: Developers building media conversion software can take a
great advantage of services on the network such as providing their
software’s users with the ability to export their output to multiple
destinations such as youtube, facebook, Dailymotion and etc.
Use Case 2: Using the Transcodium network, developers can build a
complex video and audio editing tools with advanced features which in
most cases will take forever to be processed on user's computer or
Use Case 3: Using the Transcodium master node, developers can build their
own exchange market to assist in trading the TNS token easily, developers
can add their own fees to make a profit.
At Transcodium we believe in openness and transparency, we support the
open source idea, all of our developments will be made available to
everyone on our GitHub repository ( https://github.com/transcodium ) .
Open sourcing our project will help promote innovation. We will welcome
contributions from anyone who wishes to improve the project. To show
how serious we care about this, we recently open sourced the cloud version
which was a proprietary project.
TRANSCODIUM ( TNS ) TOKEN
TNS token is an ERC-20 compliant ethereum based token which is designed
to work on Transcodium network. The token will be the official currency to
be used on the network.
The total supply of the TNS token is 120 million and has a maximum of 18
decimal places. This is a fixed supply and will not decrease or increase, the
decision of the total supply was made by the Transcodium team and
founders. The limited supply will help improve the quality of the coin.
The transcoding industry has a huge market, so the limited coin supply is a
great advantage for both investors and marketers in the near future.
EACH TOKEN OFFERS THE FOLLOWING RIGHTS TO ITS HOLDER:
1. Right to transaction
Each token holder holds the right to send or receive tokens between
one one another. Tokens can also be sent to third party such as an
exchange and can be traded with other digital assets.
2. Right to services
Each token holder holds a right to get the services made available by
the company for the token, such as media transcoding, file
distribution, lending e.t.c.
PLANNED ADD ONS
BUILT IN LIVE EXCHANGE
All Transcodium's wallet applications will have an inbuilt live exchange to
enable users to convert their coins to other currencies. The live exchange
will connect to some of the popular existing exchange platforms
available.This will help ease the token acquisition process to customers or
anyone who will need them.
TOKEN LENDING FEATURE
With the adoption of proof of stake concept, one important factor in the
selection of a worker involves their wealth, but not everyone can meet that
requirement, so we decided to employ a lending feature into the platform,
where token holders or investors can lend their tokens to workers who
need them. The borrowed tokens cannot be spent, it will be backed by a
smart contract, a worker can borrow tokens with a specified time
period.The longer the time, the higher the interest to be paid on the loan.
Only workers are eligible to borrow. Before any worker is credited with the
principal, the interest is auto-calculated and debited from his/her account
based on the duration.The interest will be added to the principal, this
means a worker needs some amount in his/her wallet before applying for
a loan . The principal plus interest will be locked using a smart contract
until time is due for release to the lender.
Transcodium will raise funds for development of the project, payment of
salaries and future expenses using crowdfunding. This will help accelerate
development and also enable the team to work full time with total
During crowdfunding, Participants will be given the TNS token after they
have made payment. Payment method will be in Bitcoin, Ethereum or
The TNS token can be used on our platform once the project is ready and in
production mode. Also, holders of TNS tokens can sell it to users who need
the token for file processing on our platform.
The presale starts on January 7th, 2018 and ends on February 28th, 2018.
During this period early investors will be given a discount of 30% for the
first 5,710,000 tokens to be sold.
Any unsold tokens after pre sale will be moved to the main ICO sale and
will have the same bonus terms as the main ICO.
Moreover, all unsold tokens after the main ICO sale will be burned hence
reducing the token supply.
Participants or Investors will be refunded if the soft cap is not reached after
the main ICO. The smart contract will handle all refund operations to
participants who contributed using ethereum, for non ethereum
contributors, we will manually send the refunds to the addresses from
which we received the funds.
Tokens reserved for team members will be locked until 3 months after
main ICO sale.Also, team members will receive only 25% of their tokens
after every 3 months interval.
TOTAL SUPPLY: 120,000,000
❖ Token Sales (72%)
❖ Bonuses, Discounts and ICO expenses (4%)
❖ Advisors & Partners (4%)
❖ Bounty (1%)
❖ Team Members (10%)
❖ Marketing (Present & Future), Provision of trial accounts for
customers and platform testers.
Token Type : Ethereum ERC-20 Compliant
Price Per Token : $0.376
Minimum Purchase : 10 TNS - $3.76
BONUS & DISCOUNTS
SOFT CAP: $500,000
HARD CAP : $30,000,000
❖ Project Development (50%)
❖ Company Expansion To Other Countries (3%)
❖ Marketing & Brand Awareness (20%)
❖ Operational Expenses (15%)
❖ Legal & Insurance
❖ Miscellaneous Budget
Website - https://transcodium.com
Blog - https://blog.transcodium.com
Facebook - https://facebook.com/transcodi...
Twitter - https://twitter.com/transcodiu...
Medium - https://medium.com/@transcodiu...
Reddit - https://reddit.com/r/transcodi...
Telegram - https://t.me/transcodium
Github - https://github.com/transcodiumEmail - [email protected]