THELOGICALINDIAN - The latest adventure of LivePlanet CEO Halsey Minor the architect of CNET cofounder of Salesforce as able-bodied as Uphold Vignette NBCi OpenDNS Google Voice is a cryptocurrency activity alleged VideoCoin
The VideoCoin Network is a decentralized video encoding, storage, and agreeable administration arrangement that turns all cloud-based video casework into an able algebraic bazaar active on a new blockchain with a built-in agreement token, the VideoCoin (VID).
VideoCoin is will focus on encoding, storing, and alive video, while borer into zombie servers, which are abandoned or underused computers in abstracts centers. According to some estimates, an estimated 20 actor video-capable internet servers go bare every day while sucking up bags of electricity, advice to $30 billion in ashen basic investment.
Minor, who’s no stranger to Bitcoin, affairs to pay the owners of these servers with VID tokens. This will accredit VideoCoin to actualize ‘the new cloud’ on a secure, accessible blockchain, by brining calm bargain accretion assets from about the world.
VID tokens are appointed to be broadcast via an ICO slated for March of this year afterwards already raising $25 actor in a pre-ICO.
The VideoCoin Arrangement wants to grab a block of the bazaar currently abounding by Amazon Web Services and added agnate cloud-based video processing businesses. VideoCoin is accepted to be 60% to 80% cheaper while additionally absolution users actualize apps on top of the network.
It aims to about-face all cloud-based video casework into an able algebraic market, active on its own accessible blockchain with a built-in agreement token.
While today’s blockchains cannot handle video alive due to continued transaction times and bound accretion capacity, VideoCoin’s blockchain promises fast affairs application proof-of-work and proof-of-stake to abutment a circuitous infrastructure. The VideoCoin Network allows miners to acquire tokens for encoding, storing, and carrying videos, while additionally all-embracing absolute basement as broadcast miners affix to third-party servers such as Amazon Web Services.
Minor’s business archetypal could prove to be lucrative. Today, about 80 percent of all Internet cartage comes from about 2 billion bodies watching video online per month. At the aforementioned time, this industry is abounding with centralization, privacy and security apropos as able-bodied as aerial cost.
The VideoCoin Network belvedere is accepted to be 80 percent cheaper by deploying bare accretion assets and accredit a new bearing of video apps via accessible APIs and accessible source-based development. It can additionally bypass telecoms by application peer-to-peer video administration while accretion aloofness with decentralized, end-to-end encryption.
“VideoCoin borrows abundant from what the blockchain has already proven, namely that bodies will affix computers to a arrangement to get paid to do work, and as appeal scales so too does supply,” explained Minor. “VideoCoin creates a new chic of miners who do absolute work, not aloof accounting.”
The abstraction for VideoCoin was developed while Minor’s aggregation was creating Alive Planet, the alone end-to-end arrangement for accessible abduction and administration of alive and recorded stereoscopic VR and 360° video. Alive Planet is to be the aboriginal belvedere to advance VideoCoin’s blockchain-enabled video infrastructure.
It is still unclear, however, whether Hollywood or absolute video producers will booty absorption in the system.
Will VideoCoin affectation a blackmail to Amazon and revolutionaize video services? Share your thoughts below!
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