Transform your Wasted Potential into Blockchain First, Fiat Enabled Revenue!
The emergence, success and steady adoption of Bitcoin and its Blockchain Technology has led to the rise of so many other industry solutions.
Amongst these solutions is the popular VideoCoin which is basically a video infrastructure platform that is fully decentralized. The project redefines the entire process of digital video content which entails:
Encoding
Storing, and;
Distributing
Which successively creates a new miner class who compete with other miners to earn rewards by providing CPU or GPU, and internet bandwidth. By implementing decentralization of the key video infrastructure, the project strives to remove centralization in the video industry, to improve privacy and reduce the cost of broadcast and distribution via the blockchain technology.
The VideoCoin Network is successfully powered by the VideoCoin Development Association limited based in the Cayman Islands, and the founder in his own words during an AMA hosted by Wolf Crypto on Telegram said to:
“have founded or co-founded companies that now exceed over $145 billion in market value prior to entering the blockchain world. These companies include CNET, salesforce.com, Vignette, OpenDNS, Google Voice, NBCi and in the blockchain arena first started Uphold in 2013 and began building the VideoCoin Network in 2018.
In addition to founding these companies, he also built CNET into a NASDAQ 100 company as a founder and CEO.”
With those outstanding credentials of the founder plus all-star team and advisors around him, it’s fair to say that the VideoCoin project and its communities are in great hands.
How Does Videocoin Work
What you majorly need to know is that VideoCoin network is powered by a huge scale yet distributed video infrastructure, and it will practically bring in what is known as the new cloud.
This will be done through the deployment of under-utilized resources for computing all over the world in a bid to revolutionize video services with the prominent blockchain technology.
Furthermore, the VideoCoin network active community members will reduce costs by deploying compute resources that are not being used as well as person to person distribution.
It will allow for a newer generation of applications through APIs that are open as well as source-based development.
Meanwhile, VideoCoin network is rated as the first blockchain project to utilize a third-party fiat payment processor that is underpinned by different banks.
As a fiat-based blockchain business, customers using the VideoCoin Network will pay for services in fiat currency and will then be distributed to miners and stakers in the same fiat currency according to their contribution to process work on the network.
The implementation of this method also eliminates token inflation and reduced the total supply by 70%.
All of these will aid in the empowerment of the production of yet another generation of video framework application via the APIs and open-source developments.
All in all, one thing to bear in mind especially for those who are new to the whole concept of VideoCoin is that the system turns all cloud-based video services into an efficient algorithmic market and it runs on a new blockchain with a native protocol token called VID. Though currently available as an ERC20 token that runs on the Ethereum blockchain network. Subject to change after the VideoCoin mainnet release.
Also, its lifetime total supply is 265000000 VIDs. Its last price was 0.167298 USD at the time of writing and it is up 29.71 percent. For now, VideoCoin trades on about four active markets with 24 hours traded volume of 1,314,960 USD and is also traded on the popular KuCoin exchange.
Through its partitioning of a video encoding duty into just a little sub undertaking and tackling them in parallel, the disseminated video preparation stage of VideoCoin can develop a much higher edge rate on equipment that is non-specialized.
Four ways to participate and mine VideoCoins
- Compute Miners: Mine VID tokens by providing CPU time, more compute more rewards.
2. Distribution Miners: Mine VID tokens to deliver videos (just like CDN companies do), more bandwidth more rewards.
3. Storage Miners: Mine VID tokens to store videos, more storage you pledge more rewards earned.
4. Relay Miners: Mine VID tokens to relay storage on third-party servers (think unused capacity on AWS and the like), more storage and bandwidth will earn you greater rewards.
Conclusion
VideoCoin Network is well-positioned to disrupt the video market by replacing market oligarchs with p2p video processing, storage and distribution. By utilising distributed and decentralization protocol, the VideoCoin Network offers higher security and end-to-end encryption. By deploying unused computing power on every device possible, it creates more processing power for video while reducing costs by up to 80%, and also help individuals earn additional household revenue. Generally, VideoCoin will be a complete stack video framework layer that exploits all of the inevitable worth that are being made from its application.
Socialize with VideoCoin on Telegram group: https://t.me/videocoin
Website: https://www.videocoin.io
