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.