Topic: [ANN]PRE SALE LIVE🚀TRANSCODIUM - The Decentralization of Transcoding Platform ⭐ - page 13. (Read 26402 times)

   
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  /_.~  ~,_\  Transcodium project was listed on FOXICO
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https://foxico.io/project/transcodium_5e0aa806a22391bdfa4fdecc79c8b81f

FAQ

1. Why does transcoding need the blockchain :

Simple Transcoding task can be done on the personal computers and laptops, but large-scale production like what Netflix and Youtube process a  day will need hundreds to thousands of server which requires huge money and a lot of time maintaining those servers. Like Uber, Transcodium will work with anyone willing to rent their device to process these files, for maximum privacy and security, a media file such as video and images will be split into very little chunks and distributed to workers (minners), this means no single machine will get a full file access but rather a very little portion of it.

The blockchain is required here because there must be a trust between the customers and the worker machines, therefore, with the use of smart contract which is currently supported by the blockchain, the incentive to be paid after processing a file will be locked until the master nodes check the integrity of the converted files. Also minners will need a reserved tokens which will be held by the smart contract to issue automatic refunds to failed conversion which somehow the integrity check passed.

incentives to be paid the device owners (workers) will be based on the blockchain's token, which we adopted ethereum blockchain.

secondly, for transparency, the public distributed ledger of the blockchain will hold all the necessary information of the processed file chunks, how much was paid to workers and many more information which both the worker machine owners and customers can verify.

2. How will the Tokens / Coins be used (token usage)

The TNS tokens will be used on the Transcodium Network, Those customers who want their files to be processed will pay using the TNS tokens, also masternode owners and Worker Machines (Minners) will be paid using the TNS tokens after a successful transcoding request on the Transcodium Network.The token will be based on the ethereum blockchain and will be an ERC 20 token standard

Also Since Transcodium will employ the proof of stake algorithm of as part of the worker (miner) selection process, workers (minners) will need to prove their wealth by keeping some considerable number of tokens to account to be able to qualify for transcoding contract.

Thank you for the concerns, but let me ask these questions, so that our members wont get confused.

What is the essence of a crypto and ICO based groups?
The main usage of these groups are to discuss , share and talk about ico , cryptocurrencies based topics , upcoming, ongoing and completed ICO. So what is wrong when we post in such groups informing users about our project and why it is useful? besides many of the group members asked alot of questions and we gladly answered them. also in cases where the post was wrongly posted to non crypto and ICO groups, we apologised and requested admin to take it off.

Again, you said we are spamming our own thread, let me ask, what is your own explanation of a spam ?:
from google this is the definition of a spam which maybe you need to educate yourself:

A spam is an irrelevant or unsolicited messages sent over the Internet, typically to a large number of users, for the purposes of advertising, phishing, spreading malware, etc.

Point out only 1 irrelevant message which we have posted here ? , we try to answer and update our members and thread watchers, isnt that the sole purpose of this thread??


Lastly I think you are of the guys who sent me a message to promote us in your group for 5-20 ethereum, the fact is we cant pay that.
We would be glad to pay it but we are on a low budget.

about 20+ different telegram groups are asking 5-20 ethereum or 1-5 bitcoins respectively per group to post or announce our project in their group, lets imagine we can afford that, then what would be the need of going for an ICO if we had that huge amount to spend on announcement only + other expenses which can cost up to $100k - $200k , wouldn't it be wise to spend that in project and just launch it??

We are sorry we or our bounty participants might have posted in your group, but ask your self, do you even read the whitepaper of projects you take monies from before misleading innocent investors by posting into your group?  We are running a bounty program and a contest where users are allowed to spread our project's ideas, we might not have control over the groups they post, Thank You...

WARNING - this shitcoin is being spammed and shilled on Telegram in a very aggressive fashion, including this Bitcointalk thread. Just one more indicator to know this will not end well. You have been warned.

If you are reading this then it means you have successfully crossed from 2017 to 2018, No matter how 2017 treated you, you are still a lucky star to see 2018, it's our prayer that 2018 will be your and our year of success and prosperity, we together with you will work hard to achieve our dream.
Happy New Year

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 happy.

Pre-Sale: 7th January

Very wisely said, my friend. Usually when a new idea comes people don't understand it and start opposing it. In our case, we have got a great support from you guys, the community we have built. Really love to be a part of it.

Seeing the look of his website is very nice ,, the concept offered is also easy to understand the world sometimes it does require innovation that continues to be developed, and trascodium will facilitate it great

We have contacted a  few exchanges such as Yobit, Livecoin and Bittrex, but nothing can be done unless the ICO is over, so a month after ICO, the coins will be listed in the exchanges listed above "All things being equal" , also we chose ethereum because the exchanges can easily integrate it within few days after the necessary fees and documents has been completed

do you have any agreement with exchanges? which of them?

We really appreciate your concerns, okay , I will take all the questions and answer them one by one

1. Question: How can you claim that Transcodium has unlimited processing power when the reality is that the processing power  is limited by the number of "miners?"

Answer: we used the term unlimited processing power because comparing the number of people who would want to earn from their cell phones, idle computers and even gaming console to the number of servers you will have to buy and maintain is huge. if you have really read our whitepaper very well, the files to be processed will be sent in very little chunks so as to not overwork the worker devices especially smartphones.This way device owners wont even notice the battery and memory consumption. Alot of people would opt in for this to make money from their devices.


2. Question: What happens if the service gets extremely popular and there is more demand than supply?

Answer: If the service gets more popular then it means customers are getting value for the money paid and the service rendered to them is of high quality.


3. Question: What incentive do miners have to use their processing power for this instead of mining other coins?

Answer: Again if you read the white paper very well, the minner or workers will earn the TNS tokens after every successful transcoding process. Also customers can only pay with the TNS tokens on the network  to enable the Token get value because there will be an active trading and this causes demand and supply of the token. Also with transcodium there is no need to disturb your self with hash rate difficulty  and others because its not needed, if you earn $100/ a day, you will earn that forever with the same processing power you provide


4. Question:  How is this decentralized when you have to upload your file to an unknown masternode?
Again if you have read the whitepaper and the business model very well, The masternode will be managed only by the transcodium team due to the privacy involved, again customers can provide their own master node if they think it will be okay with them.


5. Question:   Amazon charges 3 cents per minute for HD transcoding.

Answer: True, and that is very cheap, but ask your self, is it fast enough to handle very large scale processing? also , also you will need alot of technicalities to be able to setup an amazon transcoder. let me give you a simple example: before whatsapp was born there were alot of messaging app, but ask your self, why is it the number one choice of the average Joe, because of it simplicity, if you have tried our prototype you will know how simple is it to edit and transcode a file.
Also amazon dont provide editing tools, its strictly transcoding, but we provide visual editing tools and many more. Try the prototype.


6.  What if there is an issue with the transcoding?  Who gives the refund?
Do you really know how the blockchain, transcoding and the smart contract works? if no, then let me explain, after every successful transcoding, the integrity of the process file is tested before payment is done, also if you have read the whitepaper very well, using the proof of stake, users cannot mine with an empty balance. Also There is a company called Transcodium Ltd. to give support and help to its customers, it is a registered company and not just a group of people trying to create something up.

7. Question:  It would be much better suited for a centralized service that pays users for computing power.  No one who needs massive transcoding power is going to go through the hassle to buy the highly volatile bitcoin so that they can convert it to an altcoin to get some decentralized service that may or may not work.

Answer : If Storj , Golem , Siacoin and others have been able to decentralize most aspect of the cloud , then how is this different, dont people buy bitcoin and convert to altcoin to pay them??

I love your questions, it helps us enlighten other members about what we are trying to achieve, I hope you are okay...

This makes absolutely no sense.  How can you claim that Transcodium has unlimited processing power when the reality is that the processing power  is limited by the number of "miners?"  What happens if the service gets extremely popular and there is more demand than supply?  What incentive do miners have to use their processing power for this instead of mining other coins?  How is this decentralized when you have to upload your file to an unknown masternode?  Amazon charges 3 cents per minute for HD transcoding.  That right there will limit the value of this token.  Another big oversight is support.  What if there is an issue with the transcoding?  Who gives the refund?  I'm not saying that this is a bad idea, but this is a perfect example of something that does not belong on the blockchain.  It would be much better suited for a centralized service that pays users for computing power.  No one who needs massive transcoding power is going to go through the hassle to buy the highly volatile bitcoin so that they can convert it to an altcoin to get some decentralized service that may or may not work.

Question asked by an expert

Do you have any competitors? or Do you consider yourself unique?

On the blockchain no competitor yet and also we are going to provide an advanced software than what our cloud competitors are providing, an example we will provide a visual editing studio (check the demo here: https://proto.transcodium.com) which even non-tech people can use. Our competitors provide only api.
Also, we will provide a means that token holders can lend to workers or miners and make profit from their tokens since the miner or workers will be selected using proof of stake which means they must prove their wealth
so that they can qualify to be a worker, so you can borrow from a token holder and have enough balance to process files ( mine ).

Thanks for appreciating 

After studying the whitepaper and going through the whitepaper as well as researching the team, ironically the post by Parvez Alam (who I also researched) was the major confidence booster.

Yes, you can read our whitepaper to know more how we are going to do it

https://transcodium.com/files/whitepaper.pdf

From the roadmap shown that the platform was created in 2015, it's quite a long journey untill to decide to use decentralized blockchain technology. Seems now well-planned with experiences and researches before.

Currently, efficient transport systems are developing very well. Take for example a ripple, litecoin. I think that this coin will be a success.

The price of the token is $0.376 but if you purchase it during pre-sale i.e from 7th January, you get a 30% discount that is the price will be $0.263

What are the prices in this ICO?