Transcodium ICO details
Start Date: 2018-1-7
End date: 2018-2-28
- Site: Transcodium site
- Twitter: https://twitter.com/transcodium/
- Facebook: https://www.facebook.com/transcodium/
- Github: https://github.com/transcodium
- Reddit: https://www.reddit.com/r/transcodium/
- Bitcointalk: https://bitcointalk.org/index.php?topic=2571769.0
- Medium: https://medium.com/@transcodium/
- Telegram: https://t.me/transcodium
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.
Problems with Cloud Transcoding
- Time Consuming due to the limited resources.
- Very Expensive thereby scaring away startups & low budget firms.
- Unreliable, Server outage can cancels the whole process
Transcodium started as medianap in 2015 with a visual cloud transcoding and media editing platform, but we went out of business due to the high cost of cloud servers, we could not compete with the existing platforms and had to switch to another business, In 2016, our team decided to look into the project again but this time using the blockchain and decentralization technology. Unlike the previous platform, Transcodium’s network will be fully autonomous without human intervention.
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 conversion process:
- An API interface to help developers integrate into their projects or apps,
- The command line interface will be for basic functionality and
- The advanced visual studio media editing app for complex media editing needs.
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 processing it. 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 the network.
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