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      "body": "(Article taken from D Crypto on medium, see full article here: https://medium.com/dcryptinc/videocoin-analysis-a3d433b9a126) \n\nOverview\nBackground\nTechnology\nArchitecture\nToken Distribution\nManagement\nVideoCoin provides content creators and consumers with an algorithmic marketplace for encoding, storing, and distributing video files.\n\nThe VideoCoin network aims to reduce the costs and increase the utilized capacity of the cloud video infrastructure market by providing an algorithmic market place that supports just in time demand for video.\n\nWith over 30% of all data centers underutilized, VideoCoin hopes to increase network efficiency by offering VideoCoin on a new blockchain with a native protocol token (VID), wherein miners earn VideoCoins by providing video infrastructure services and clients spend VideoCoins to rent these services.\n\nProject Background\n\nVideoCoin is creating a decentralized algorithmic marketplace for encoding, storing, and distributing video across networks. Video currently takes up a tremendous amount of internet traffic and by 2021 is expected to comprise over 82% of all internet traffic. While video is taking up an even greater amount of compute resources, computing technology has failed to keep pace. Most notable are the costs associated with encoding and storing video. Expensive hardware and large amounts of disk space are required for material dense video, such as 4k, to stream properly. VideoCoin hopes to implement new processes to video infrastructure that not only improve cost efficiency but increase the quality and speed of video streaming.\n\nVideoCoin aims to improve the three main components of cloud video infrastructure: encoding, storing and distributing, by using a decentralized ledger where all processes are recorded and verified for authenticity. The process works by incentivizing miners to rent out compute resources, storage and bandwidth for consumers needing that service. While all three components of content delivery are verified through proof of work, a complimentary proof of stake blockchain will work in the background to confirm those three mining proofs. VideoCoin $VID will act as the incentive and financial tool that enables this system to operate in the desired manner.\n\nTo see the full article please read here: https://medium.com/dcryptinc/videocoin-analysis-a3d433b9a126",
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      "title": "Really excited for Halsey Minor's talk at IOT World Congress!",
      "body": "See his Keynote details on, 'Blockchain and Existing Enterprises\":\n\nhttps://www.iotsworldcongress.com/speakers/halsey-minor/\n\n#crypto #blockchain #enterprises",
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      "title": "The latest gallup poll said 2% of Americans have some cryptocurrency.",
      "body": "@@ -802,19 +802,16 @@\n https://\n-://\n medium.c\n",
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      "title": "The latest gallup poll said 2% of Americans have some cryptocurrency.",
      "body": "A great interview with Michael Terpin about the future of crypto and the future he sees for VideoCoin! \n\nMichael Terpin is founder/CEO of Transform Group, whose divisions include Transform PR, a global public relations firm that has served 200+ clients in the blockchain field, including more than 100 ICOs; Transform Strategies, advisory and token relations; Coinovate, a cryptocurrency consulting and development company; CoinAgenda, an event series for cryptocurrency investors; TokenMatch, a global matching event for curated ICOs and investor groups; and SocialRadius, one of the nation’s first social media marketing firms twice named to the Inc. 5000. Transform Group is headquartered in San Juan, Puerto Rico, with offices in Santa Monica, Silicon Valley, NYC, Las Vegas, Denver and Toronto.\n\nhttps://://medium.com/videocoin/the-latest-gallup-poll-said-2-of-americans-have-some-cryptocurrency-23809f508ae5\n\nhashtag#crypto hashtag#blockchain hashtag#cryptocurrency hashtag#video",
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      "title": "How VideoCoin Will Help Vlogging",
      "body": "If you don’t think people would be interested in watching someone streaming video of their personal life, you have forgotten our innate nosey nature. We love to know other people’s business, and even share a bit of our own. Facebook’s staggering popularity is the proof that we like to share, and know, personal details.  \n\nEnter vlogging. Vlogging is the modern-day, true-to-life situation comedy, a kind of reality show on steroids. Vloggers record a video log (v-log=vlog) of practically anything and share it online. And if you think they want for viewers, you’d better revise your opinion with the facts. Mohamed Beiraghdary is one of the most popular daily YouTube personalities streaming a vlog, with over 5.3 million subscribers. He uploads videos that offer a glimpse into his daily life on his channel Mo Vlogs.\n\nAnd he is only one. Here are more examples:\n\nCasey Neistat vlogs his latest project and business venture, known as 368,to 10.3 million subscribers.\nTanner Fox started uploading videos when he was just 12 years old. As one of the top daily YouTube vloggers, 7.3 million subscribers have watched him grow up right on screen.\nTanner Braungardt started uploading trampoline tricks on YouTube before transforming himself and his channel into a brand boasting four million subscribers. He’s amassed nearly a billion views, too.\nRoman Atwood has been vlogging since 2013, with a following of more than 14 million subscribers. Viewers have seen the ins and outs of this daily YouTube vlogger’s daily life with his girlfriend and three children.\nEllie and Jared Mecham are top daily YouTube vloggers who share their journey as parents who struggled to conceive. They now have two “miracle” babies, and share their family adventures with over 1.5 million viewers each day.\nThe Growth of Vlogging\nVlogging is a modern new media sensation and everyone from gamers to housewives are hopping on board. Our fascination with the “inside look” combined with the steady stream of daily content has driven vlogging to dizzying heights. We already know that 69 percent of audiences would rather watch video when its available on a web page. Couple that with the fresh, “live” appeal of vlogging, and you have a potent prescription for continued growth.\n\nAlong with the popularity you gain from streaming a vlog comes networking, advertising, and sponsorship opportunities that make vlogging very attractive, indeed. One program, Daily Bumps, features a family of four and their daily activities. Their estimated worth is $3.6 million. Now boasting over 3.9 million subscribers, the vlog rakes in about $4,500 per day in advertising revenue.\n\nThere has been such growth that business and marketing centers are sitting up and taking notice. With increasing demand for video content, and 61 percent of companies already using it as a marketing tool, vlogging is a natural next step. Recorded or streaming Q&As, client testimonials, how-to sessions, and more are the next big thing businesses will use to promote their brand.\n\nVlogging Requirements\nThe simplicity behind vlogging certainly contributes to its popularity. A good video camera, some editing software, a high-speed internet connection, and a host is basically all you need to begin vlogging. It is a simple concept; it is not a simple process.\n\nVloggers can choose between recording all day, editing, and then posting a vlog for viewing, or simply grabbing the camera and live streaming. Both are popular ways vloggers connect with audiences. Many post daily on hosts such as YouTube while saving the occasional live stream for their Facebook page. Many vloggers see this as a wise method of attracting different audiences through multiple platforms, but with basically the same content.\n\nHowever, as you can imagine, the amount of storage and computing power necessary for 2.5 million viewers (Daily Bump) to enjoy the video content is beyond huge. Multiply their viewership by several magnitudes and you see the growing need. Currently, top YouTube vloggers pay a sizeable cut of advertising revenue for the platform to worry about storage and bandwidth issues. The money involved is such that the vlogger still earns a comfortable amount even after YouTube takes its cut.\n\nWith businesses utilizing vlogging as a marketing tool, the landscape changes. Unless, of course, they want to subsidize the YouTube empire by paying a premium for hosting and other needs. If a brand wishes to host its own vlog on the company website, then the company will be faced with the costs of cloud storage, streaming bandwidth, and all that goes with providing huge amounts of data on demand to an internet audience.\n\nHow will VideoCoin help Vlogging?\nOver 80 percent of all internet traffic is video. Yet, the current internet video infrastructure is crippled by excessive regulation, restrictive centralization in only a few companies, and rising costs. Innovation for vlogging and other video technology is stifled; so, therefore, is investment. Moreover, the existing pool of storage and computing power is vastly underutilized.\n\nThe VideoCoin Network is a decentralized video encoding, storage, and content distribution system that turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID). Encoding, storage, retrieval, and distribution of video is handled through the VideoCoin network, which utilizes the unused data storage and computing power of the cloud for must less cost, and with greater security.\n\nInstead of vloggers depending on oligarchs for storage and streaming services, the control is put back into the vlogger’s hands. Technical vlogging requirements cost less, are more secure, and the field is wide open for open-source development and innovation that can benefit vlogging and other video technologies. More storage, more control, less waste.",
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      "title": "We won the Ethfinex / Bitfinex voting round!",
      "body": "Breaking VideoCoin News Update!\n\nVideoCoin made it into the top three tokens being considered for the Ethfinex / Bitfinex exchanges.\n\nWe are so thankful to our community for the support and trust in us to provide this exchange with a great utility token for decentralizing video on the new web 4.0!\n\nSEE OUR BLOG REGARDING THE NEWS: https://bit.ly/2OEqTYE\n\n#crypto #blockchain #winning #altcoin",
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      "title": "Shocking realities of streaming live VR video",
      "body": "Virtual reality is fast moving from experimental technology to widespread immersive computing that will change how we learn, work, socialize, and even live. The next big hurdle for VR is video live streaming for a more lifelike experience. And, with the growing burden of video live streaming comes the demand for live stream hosting.\n\nVideo live streaming is being used by everyone from churches to business to sports leagues to government because of its ability to show, not tell, and generate high levels of engagement. Adding VR to the mix will only add to the excitement and engagement, and that means an increasing need for quality, affordable, and available live stream hosting.\n\nThe Burden of Live Stream Hosting\nVideo live streaming requires an enormous transfer of data. Many factors contribute to just how much is needed, like whether or not a viewer watches the entire broadcast or the length of your program. Also, upload capacity and download capacity are two sides of the same coin; both are important, and yet they are drastically different.\n\nThe producer of a live stream video is primarily concerned with upload capacity. In general, the uploader will require more capacity than the downloader, at least twice as much for a smooth presentation. The uploading side of video live streaming requires more work due to the necessary processing and encoding before the video is ready to be viewed by users.\n\nAll this uploading, processing, and downloading in real-time takes massive amounts of resources, including powerful dedicated servers. For instance, a tier-1 content delivery network (CDN) like Akamai uses over 240,000 servers spread across 130 countries. Here are some general guidelines for video live streaming:\n\n1 viewer hour requires 0.644 GB of streaming\n100 viewer hours require 64 GB of streaming\n1,000 viewer hours require 644 GB of streaming\n5,000 viewer hours require 3,220 GB (3.22 Terabytes) of streaming\n10,000 viewer hours require 6,440 GB (6.44 Terabytes) of streaming\n(Note: 1 viewer hour is equal to 1 viewer watching your live stream video for 1 hour)\n\nVR Live Stream Hosting Data Usage\nAccording to an article in Forbes, “There are 2.5 quintillion bytes of data created each day at our current pace… Over the last two years alone 90 percent of the data in the world was generated.”\n\nThe demands of VR live stream hosting are vast, as users expect experiences to catch up with real-world living. In order for this to happen, massive amounts of storage, computing power, and bandwidth will be necessary. Cisco has determined that 82% of all online traffic will be composed of video live streaming by 2020.\n\nSo how much streaming capacity is currently used, and what will be necessary for VR live streaming? Consider these facts:\n\nUsers watch 4,146,600 YouTube videos every minute of every day; that’s 1 billion hours every day.\nNetflix subscribers watch 140 million hours of content each day\nEach day 95 million photos and videos are shared on Instagram\nEach day, 1.2 billion songs are streamed from the internet\nNow factor this into that incredible set of numbers:\n\nThe average 5 MB song file requires 3 seconds to download at 15 Mbps.\nThe average 2 GB SD movie requires 20 minutes to download at 15 Mbps.\nThe average 12 GB 1080p HD movie requires 2 hours to download at 15 Mbps.\nIn order for a 720p VR video stream to download without interruption, a 50 Mbps connection is required.\nEven when considering the vast amount of data that is streamed from the internet every day, and how fast it can be acquired, the last bullet point above still stands out. It is obvious that VR will consume considerably more resources than current levels of video live streaming.\n\nA Look at the VR Live Stream Hosting Future Landscape\nA number of innovative solutions are being developed that will only increase the demand for more and better VR video live streaming hosting. Three in particular will directly contribute to greater numbers of users, which creates more demand for resources.\n\nStandalone VR\nStandalone VR offers a midrange user experience in a wearable, self-contained headset without wires or attachments to any other device. Falling somewhere between mobile VR and performance VR, this option is already offered in the new Oculus Go, available in 32GB or 64GB models. Look for more Standalone VR options as users demand more accessibility and freedom. Of course, a nearby wireless network and smartphone is required.\n\nIncreased Usability\nAs VR headsets become more usable and easier to set up, the number of users will increase. The ideal goal is out-of-the-box usability, with the least amount of setup steps needed. And of course, easier to use means more users, which translates into more bandwidth, storage, and hosting solutions needed.\n\nTechnologies that Improve VR Performance\nSolutions are already being tested to solve the major hurdles of computing power and bandwidth needs. One such option called Foveated Rendering works with existing computing technology and eye tracking software to conserve processing power at the main computer.\n\nAs technology allows more use of existing networks, we will see an explosion in VR experiences available:\n\nVR Movies\nVR Shopping\nVR Education\nVR Social Interaction\nAgain, as companies develop ways to shove more data through existing networks, making for better VR experiences, the number of users will increase, thereby increasing the burden of bandwidth, storage, and hosting.\n\nSolutions for VR Live Stream Hosting\nBandwidth is a top hurdle for VR video live streaming, with even the most basic 360 experience demanding at least 25 Mbps. Considering that VR streaming HD level content will require 80-100 Mbps, and higher quality VR experiences will demand much more, the bandwidth hurdle is high.\n\nFortunately, in addition to technologies that seek to push more data through existing networks, the average US broadband speed is on the rise, approaching 50 Mbps in many places. Also, a few major ISPs are installing fiber networks capable of Gigabit speeds.\n\nOn the live stream hosting front, VideoCoin offers a decentralized video platform that is redefining the process of creating, storing, and distributing video content, including VR. Unused cloud computing and storage can be harnessed through this blockchain-enabled system, with its own protocol token, managed and conducted on a peer-to-peer basis.\n\nThis will reduce hosting and storage costs from 50-80%, while ensuring high-quality encryption and distribution solutions. Increase privacy, reduce costs, and remove the middle vendor that imposes so many restrictions on your streaming options. Contact VideoCoin today for more information about how you can get in on the ground floor.\n\nOriginal blog: https://blog.videocoin.io/shocking-realities-of-streaming-live-vr-video/",
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      "title": "",
      "body": " @videocoin, I gave you a vote!<br>If you follow me, I will also follow you in return!<br>Enjoy some !popcorn courtesy of @nextgencrypto!",
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      "author": "videocoin",
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      "title": "Q&A With Halsey Minor, The Man Behind CNET, Salesforce, and Now VideoCoin  Read more: https://cryptovest.com/news/qa-with-halsey-minor-the-man-behind-cnet-salesforce-and-now-videocoin/",
      "body": "It’s not every day that we see a big player in the Web 1.0 and 2.0 space make a token-based blockchain network, and it’s even rarer to see anyone start one that caters to business-to-business services. However, Halsey Minor—a man who either founded or led ventures like CNET, Salesforce, Google Voice, Uphold, Voxelus, and OpenDNS—is the type of person who built his reputation by filling gaps in the markets he enters.\n\nHis latest project, known as VideoCoin, is an attempt to use blockchain technology and cryptocurrency to address a pervasive problem in the video streaming and encoding industry in the internet, incentivizing data centers with unused computing power to commit some of their resources in exchange for a reward through a complex combination between proof-of-work and proof-of-stake models.\n\nCryptovest had the pleasure and honor of speaking with him before his trip to the World Blockchain Forum in London and asking him about this new technology.\n\n\nRead more: https://cryptovest.com/news/qa-with-halsey-minor-the-man-behind-cnet-salesforce-and-now-videocoin/",
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      "parent_permlink": "blockchain",
      "author": "videocoin",
      "permlink": "videocoin-vid-up-for-consideration-on-bitfinex-exchange",
      "title": "VideoCoin (VID) Up For Consideration on Bitfinex Exchange",
      "body": "Today, we are excited to share with you the VideoCoin Network has been invited to participate in the formal voting process to have the VID token listed on both the Bitfinex and Ethfinex exchanges, as a leading example of blockchain technology that solves a real business or societal need.\n\nWhat are Bitfinex and Ethfinex?\nBitfinex sits in the top 5 exchanges by trading volume and is one of the most advanced cryptocurrency platforms trusted by millions of traders worldwide. Based in Hong Kong, the exchange first entered the market in 2012, and has enjoyed steady expansion ever since.\n\nSee our blog for the full writeup on this exciting development: https://medium.com/videocoin/videocoin-vid-up-for-consideration-on-bitfinex-exchange-11345cc6da86",
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      "parent_permlink": "transformative-technologies-in-the-field-of-video-a-historical-guide",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-videocoin-20180829t083247000z",
      "title": "",
      "body": "Congratulations @videocoin! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@videocoin/sc_verified.png)](http://steemitboard.com/@videocoin)  Steemcleaners Verified Profile\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "permlink": "cheetah-re-videocointransformative-technologies-in-the-field-of-video-a-historical-guide",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/videocoin/transformative-technologies-in-the-field-of-video-a-historical-guide-b04b69ef39a2",
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      "permlink": "transformative-technologies-in-the-field-of-video-a-historical-guide",
      "title": "Transformative Technologies in the Field of Video: A Historical Guide",
      "body": "There has been a long list of transformative technologies in the field of video. We are going to get started back in the 19th century, with the invention of the modern, still photograph. Let’s get started!\n\n\nModern Photography\n\nThe origins of photography can trace their roots back to January 1839 in France. At the French Académie des Sciences, Louis-Jacques-Mandé Daguerre showed off one of the earliest, realistic photographs. The spectators were shocked and Mr. Daguerre’s invention went on to become “the first commercially successful photographic process” (source).\n\nNumerous inventors had contributed to photography even before Daguerre. Daguerre and his invention the daguerreotype, however, were the closest to what we would today call photographs. He was the first to create accurate recreations of the real world, with a process that took a few seconds.\n\nFor those curious, daguerreotype images were produced on shiny silver plates.\n\nInvention: First modern photograph\n\n\nThe Motion Picture\n\nIt took less than 40 years for us to go from early photographs (on metal) to the first motion picture. In June 1878, Eadweard Muybridge set up a dozen cameras that took photographs of a jockey on a horse. Rumor has it that Muybridge was trying to win a bet that all four of a horse’s hooves leave ground when they run.\n\nRegardless of the reason, Muybridge stitched together these sequential photographs into the world’s first motion picture in 1878 (source).\n\nAs the name says, a motion picture was literally a series of static images placed one after another in order to give the impression of motion. While the original Muybridge motion picture looks primitive today, this remains the foundation for how all movies are created.\n\nInvention: First motion picture\n\nBuilding off Daguerre, Muybridge, and their contemporary Thomas Edison, the Lumière brothers created the first projected motion picture. Brothers Louis and Auguste created an innovative device called the Cinématographe. The Cinématographe would record, develop, and project motion pictures — all in a single device. Their first showing was in 1895 and by 1896, the brothers had already opened theaters in England, Belgium, and the United States.\n\nInvention: First projected motion picture\n\nImprovements to these early motion pictures came quickly. While it was common to add sound effects, movies during this era were largely silent. That is until 1927, when the American film “The Jazz Singer” introduced singing and speech that was synchronized to the actors’ lips.\n\nInvention: First motion picture with music, singing, and speech\n\nIn these early days, there were both black and white and color films. The colored films, however, were shot in black and white, then hand painted after the fact. It took until 1935 when “Becky Sharp” was fully shot in three-strip technicolor.\n\n\nThe Internet\n\nThe internet provided a massive, global platform for video to grow. Not only could videos be viewed from any internet-connected device, the proliferation of computers and handheld devices led to millions of new cameras being placed in the hands of consumers.\n\nThe first video on the internet was a live recording of the band Severe Tire Damage (link). The video was first uploaded in 1993, before the Netscape Navigator browser.\n\nInvention: First video on the internet\n\nThat said, video started to take off on the internet with the rise of large scale video platforms — like YouTube, Vimeo, and DailyMotion.\n\nPrior to these companies, there was no easy way to send videos to one another on the internet as video files were too large to email or too expensive to host on your website. It would take two decades of advances in a myriad of technologies — from internet infrastructure to modern browsers, CDNs, video codecs and more — before getting to where we are today.\n\nVideo is also not a medium solely for entertainment. A recent study found that 4 in 5 consumers believe a video explaining how a product works is important while other research found that visuals — such as pictures and videos — are processed 60,000 times faster than text.\n\n\nLooking Forward\n\nToday, video is everywhere. And this growth is only accelerating.\n\nAccording to Cisco, video traffic will account for 82% of all consumer internet traffic by 2021 — an increase from 73% in 2016. Perhaps more shockingly, by 2021, every single second, 1 million minutes of video content will be sent across the internet.\n\nAs we look ahead, we expect there to be a shift from centralized platforms and vendors (the Googles and Amazons of the world) towards decentralization. VideoCoin, the makers of the VideoCoin Network, are building the decentralized video infrastructure for that future.\n\nInstead of relying on a handful of vendors, the VideoCoin Network will incentivize participants for providing compute, storage, and bandwidth resources. In exchange, businesses can leverage the resources in the VideoCoin Network for a fraction of the cost.\n\nWe have come a long way from the origin photographs and motion pictures of the 19th century, but we anticipate there to be another large technological shift as we rethink critical video infrastructure in the age of blockchain technology.\n\nInvention in progress: First decentralized video infrastructure\n\nJoin the VideoCoin discussion on Telegram: https://t.me/videocoin",
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      "permlink": "re-videocoin-i-believe-in-a-future-where-the-single-most-important-asset-is-data-and-if-you-have-the-ability-to-create-a-secure-home-for-that-20180818t035941576z",
      "title": "",
      "body": "**Coins mentioned in post:**\n\nCoin | | Price (USD) | 📈 24h | 📈 7d\n- | - | - | - | -\n**BTC** | Bitcoin | 6527.167$ | _1.21%_ | _6.21%_\n**ETH** | Ethereum | 310.952$ | _4.09%_ | _-4.26%_\n**FLASH** | Flash | 0.010$ | _-7.34%_ | _14.81%_\n**XMR** | Monero | 99.584$ | _5.62%_ | _9.15%_",
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      "parent_permlink": "cryptocurrency",
      "author": "videocoin",
      "permlink": "i-believe-in-a-future-where-the-single-most-important-asset-is-data-and-if-you-have-the-ability-to-create-a-secure-home-for-that",
      "title": "“I believe in a future where the single most important asset is data, and if you have the ability to create a secure home for that data, then you have the potential to disrupt any space” — Jason King",
      "body": "Jason King is an internet entrepreneur​, cryptocurrency​ enthusiast, and asset manager​. He is the co-creator of the cryptocurrency FLASH. He’s also an early adopter of cryptocurrencies such as Monero. Currently a Managing Director at Binary Financial, he was previously the Assistant Fund Manager & Head of Game Assets at Alphabit Digital Currency Fund.\nHi Jason! Let’s start with you telling me a little about your background, and how you got into the space?\n\nSo I got into Bitcoin around early 2010 and been an enthusiast of distributed and decentralized networks ever since.\n\nBack in the day I used to play video games, using pre-built gaming PC’s, eventually building my own, so I had experience with graphics cards and CPUs. This naturally progressed into mining, which led me to a serious fascination with tuning my mining rig (a bit like tuning a car) to achieve optimal speeds.\n\nWhen Bitcoin started gathering momentum I was progressing in my career and eventually became Managing Director at Binary Financial. At Binary we facilitate the trades on behalf of clients who are looking to buy large block trades of Bitcoin, Ethereum, and other tokens/coins etc. It’s a bit like buying real-estate, our clients would rather go to a specific broker, rather then just walk into a estate agents office. So, that’s where we came up with the idea that we cater to high-net worth individuals and institutions and do investments for them. It’s a great industry to be in and it’s been going really well!\n\nAs well as that, I’m also the co-creator of a cryptocurrency called FLASH. FLASH is a high-speed, low cost blockchain cryptocurrency aimed at the general public. We saw that cryptocurrency was (and is still) very challenging for the average person to use, thus our vision was to create something that is easier, cheaper and faster to use for new users coming into contact with cryptocurrencies. We want to lower the barrier of entry to cryptocurrency, making it accessible to everyone.\n\nSo how do you feel about the market right now?\n\nThere’s generally two views on the market, there’s people who tend to look at the market from a price perspective, seeing the price fluctuations of various coins, and smelling an opportunity. If we’re looking at a grand scheme of things, the long-term growth has the potential to be huge. Particularly if you look at where everything began, even since the January all-time high, some crypto assets have hit high prices. When the market was at its absolute peak we hit a 800 billion market cap, so if the market recovers, crypto assets will be well on their way to chasing after the top order or current internet business such as Facebook, Amazon, Apple and Google etc.\n\nThis brings me on to the second type of people, there are those who don’t pay too much attention to the current price and just focus on the application of this technology. These people have faith in the blockchain, believing in the important role it will play in the future of the internet.\n\nBringing it back to how I feel about the space, I’m certainly a mixture of the two camps. I’m interested in the volatility and opportunities of the market, as well as the impact this technology could have around the world.\n\nThoughts on the potential of blockchain in general?\n\nYou’ve got to think: What is the single biggest innovation that the blockchain offers to the world?\n\nI believe it’s the fact that, for the first time ever in a virtual space, we have the ability to define assets, the scarcity, and we have the ability to define boundaries. That’s very important because prior to the creation of Bitcoin you almost had ways to create boundaries, but they were created by centralized systems like banks or private data houses, which could be hacked or destroyed.\n\nWith the blockchain we now have a way to define, with mathematical certainty, that whatever value amount that you own, can be protected by the decentralized nature of the network. For example, if someone wanted to hack the network they’d have to individually infect every computer in the network with their malware, this is a lot harder than corrupting just one system.\n\nThis security can facilitate huge amounts of innovation because everyone’s data and assets can be protected on a whole new level. When we’re talking about data protection, we’re talking about something that is worth a lot more to businesses than just money. Data is information and information is simply the untapped potential of how to make money.\n\nIf you look at where we are today, what are the most valuable companies in the world? Where does their value come from? Facebook, Google, Amazon etc. It’s data right? Yes they do business selling entertainment and hardware, but that’s just a small part of the infrastructure.\n\nSo, I believe in a future where the single most important asset is data, and if you have the ability to create a secure home for that data, then you have the potential to disrupt any space.\n\nWhat projects are you most excited about in the space and why?\n\nThere are a few projects that I’m very interested in, but one key point I really want to make is that I think that exchanges are massively overlooked. One of the fastest growing exchanges is Einstein, providing an easy-in easy-out gateway to the world of Crypto. In my opinion, these exchanges have the future potential to act like banks. If you think about what a bank is, it’s a place where clients put their money and the banks then pay them a little interest in return for the client trusting them. The banks then give the people their money back when they ask for it.\n\nSo, I see exchanges as a place where people will deposit their assets, they can then trade their assets in the hope that they make more money, and when they need it back, they can withdraw their assets. So I think people will start to use it like another bank account.\n\nI see exchanges becoming very valuable pieces of digital real estate in the future. That’s why I think a lot of big institutions have been actively acquiring exchanges or looking to get into the exchange sector. They’ll soon found out though, that running exchanges is just as hard as running a bank. Especially since crypto assets demand high levels of IT and cybersecurity labour, which is in short supply in a whole new frontier.\n\nThe whole sector of video has huge potential. I mean, we rave about the blockchain as this new technology, but the underlying foundation tech is still the internet, and the most widely consumed content on the internet is video. I believe it’s going to remain that way for at least the next 5–10 years, at least until VR and AR mature.\n\nWe’ve come a long way compared to back in the day where you had to convert files constantly into various formats, for various devices. Now we have access to video files that are compatible with the majority of user devices.\n\nWith the Internet of Things on the horizon, the number of household devices and appliances that will communicate with the internet will drastically increase, some of them may need to consume video on some format. So, having the ability to transfer video format to these devices will be essential.\n\nWhy is bringing Video and the Blockchain together important and why should people care?\n\nThere’s a number of benefits of video being deployed on the blockchain but for me, what’s very important is the security and authenticity of video content. For example, video is used a lot now to determine future outcomes and to uncover factual information i.e. prove criminal activity, scientific research, national intelligence etc. So being able to prove that the video has been unaltered and is secure in its original state is very important. It will increase the reliability of video content, so viewers can be assured that what they’re seeing hasn’t been edited with special effects.\n\nFor movies it’s a better way for content creators to ensure that their content is protected, reducing intellectual property theft.\n\nAgain, we’re talking about information and data, and video is data at the end of the day, and as we’ve learnt data can be stolen. By using a secure decentralised network there’s a way to ensure that your videos are secured and not stolen.\n\nThis will benefit the creators, give them the confidence to create and be more ambitious, because they know that they’ll lose less money to piracy. This all will benefit the consumer in the long run.\n\nWhy is now the right time for video and the blockchain to come together?\n\nI believe the world has a better understanding of what the blockchain is now, and what blockchain can actually do. So mass adoption is certainly on the horizon.\n\nAdditionally, governments such as the U.S, China, UAE and Russia are beginning to see the importance of blockchain as a pathway towards better information security. This is hugely important for nations, particularly as it involves national security matters. So, being able to master these tools and harness this technology is definitely on the leading world powers’ agenda.\n\nGovernments and the wider public aren’t that different. When they don’t understand something it’s scary, they call it a scam or a vehicle for illegal activity. But once they understand it they begin to build more confidence.\n\nThanks to this new confidence better things can happen for a space, because now we have more support of people who believe in the potential of this technology. Agreed there is still plenty of of criticism and doubt but I think over time the tech, and the people who support it, will bring innovation and advancements. Which, hopefully, will create this positive cycle of trust that can then trigger mass adoption.\n\nWhere do you see the future of video on the blockchain how do you see it disrupting existing industries?\n\nCurrently, if you look at existing video industries, if you want to consume content you need to go to centralised distribution networks.\n\nWhen you go to YouTube or Netflix, all the content resides on private centralised networks and data banks. You don’t really have a way for information and these things to travel freely from the creator to the viewer.\n\nDon’t get me wrong, YouTube is a great example of how you can create a platform and allow people to upload their own content. It’s immense how it became this democratised entity where many people built amazing channels which eventually grew into huge brands and successful businesses.\n\nBut just imagine if you have a platform that is available worldwide, and the distribution is much more accessible to all, more efficient and saves creators money. This just adds more possibilities to what the creators can produce, which really excites me.\n\nWhat concerns do you have about the blockchain space?\n\nMy major concern is that the world isn’t ready for the new technology.\n\nThere’s a lot of excitement in the space and a lot of new people are jumping into the fray for the money, with a lot of them are getting burned.\n\nThey lack an understanding of the space and I think having a better knowledge of security surrounding exchanges and wallets will encourage more people to get involved.\n\nToo many people are losing money by selling at the wrong time, or they’re being hacked, or they lose their private keys etc. We want everyone to have a pleasurable experience in this space because that’ll encourage mass adoption and give this technology the platform it deserves!\n\n\nJoin us for discussion in our Telegram group: https://t.me/videocoin",
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      "title": "VideoCoin Technical AMA part 3",
      "body": "Our Chief Technology Officer, Devadutta Ghat spends time every few weeks answering the VideoCoin communities’ questions live in Telegram. We have an extra Telegram group discussion just for these technical questions. Below is a compiled list of the technical questions we have answers to. Enjoy!\n\nOpening remarks from Devadutta Ghat,\n\n“We’ve made a lot of progress on our testnet, Wallet Software and of course TGE Smart Contracts these last few weeks. We also brought on some critical engineering folks on to the team.”\n\n“We have expanded our recruiting team, we found some really good folks who come to us from companies like Cloudera and Apple. Our engineering recruitment is in full swing. We will be making a public careers page where you can apply to join our team, but as always, if you have folks who want to join us, send an email to [email protected].”\n\n“We also have a brand new marketing team who are doing a great job with hundreds of different marketing opportunities and partnerships!”\n\nQuestion 1: We have a question about storage miners. Will Client1 (whom requested original video encoding process) pay storage miner post encoding or does Client2 (viewer of video) pay for that video to be stored with the storage miner?Also,version three does the encoding miner pay the storage miner post encoding?\n\nAnswer 1: This will depend on the implementation, let me explain.\n\nIn general, Client 1 pays the storage miner on equal intervals for time over the period of the contract for holding the file. So over the life of the video client 1 pays storage miner. If Client 1 requested encoding, yes, Client 1 will pay the compute miner.\n\nClient and Miner will establish a contract to store the file and the client validates the proof that was submitted.\n\nPossible implementations:\n\nThe client needs to pay multiple times for the same video input to be encoded into different formats in order to match codecs, color space etc..\n\nQuestion 2: Is there a scenario whereas the requester of video (me with netflix) pays the encoding and storage miners?\n\nAnswer 2: That’s also possible to implement, we intend to keep the APIs transparent. So you could create your own smart contract on the network and use that to charge from clients. We will be providing a standard Ethereum interface, so lets say you want to create an ERC20 token on the VideoCoin Network, it is possible.\n\nQuestion 3: So lets say you want to watch a show that has been encoded once for a specific format and you need it encoded in a different format. Is there a way to re-truncate that video to source input and then re-encode it to match my device requirements?\n\nAnswer 3: Great question! Yes, the client would submit another contract for the next format to be encoded. Each would be individual and multiples will be available. It will be a programmable setup for the desired input/end user.\n\nThe input outputs are very flexible. We are also working on porting an LLVM based compiler so we can run DirectShow filters directly from FFMPEG. This is super hard to implement, so I don’t want to get your hopes high right now, but we are working on it.\n\nQuestion 4: One challenge for someone like myself in the videocoin network would be managing different contracts based on different content I wanted to view/submit. Is there any work in place to help manage smart contracts for this type of network whereas a not technical person could see past/potential contracts to engage in?\n\nOr simply put how would I manage all my different content?\n\nAnswer 4: So when you build a complex Video Infrastructure platform, say like a YouTube, as a developer you would maintain a a lot of code involving API calls to third party services. Similarly, when you build on top of VideoCoin, you can expect to maintain a lot of code.\n\nWe will be providing sample code and implementations. But, you can expect the complexity to be proportional to the project.\n\nQuestion 5: Do you think you have enough time to still launch VideoCoin alpha network in January 2019?\n\nAnswer 5: O, yes. On track as of now! We want to show a testnet demo as soon as we are able to in the end of this year or early January.\n\nQuestion 6: Question: Could you comment, in general, on the Retrieval & Distribution aspect, status and goals for the remainder of the year?\n\nAnswer 6: We will be starting out with a testnet that will use a simple retrieval and distribution, single origin server and single “centralized” distribution.\n\nThen we will steadily make the CDN decentralized. As you know, a decentralized P2P CDN is pretty intense work and we will approach it in stages. Right now we are mainly focused on encoding for this first testnet launch.\n\nWe will do the proof of transcoding and show an end to end transaction go through the network for encoding.\n\nQuestion 7: What I’m looking for specifically is how I can describe what could be made transparent and tradeable through methods similar to yours applied to the life cycle of our personal data, with us added as stakeholders?\n\nAnswer 7: This is a brilliant idea, there are some ways you can use the concept of Proof of Transcoding. While the proof is specific to video, you can generically extend it to many types of computation using the same challenge response authentication methods. For example, if you want to build NLP models on the data you’ve collected, there is a way to extend a general purpose compute proof like Proof of Transcoding.\n\nQuestion 8: Another question is, will FPGAs be good at Proof of Transcoding with an adequate bitstream?\n\nAnswer 8: You don’t need FPGAs, you can use standard CPUs, most CPUs have a video fixed function and we will use that\n\nQuestion 9: Yes I know, but FPGAs are much faster, i know AWS use those. So i wonder if it’s an advantage to use those for proof of transcoding in the mining part of videocoin?\n\nAnswer 9: Depends on the FPGA, but in general the GPUs and CPUs of today have a very impressive video fixed function.\n\nQuestion 10: I listened to Kellam Ames on Coin Agenda and he mentioned that the encoding, distribution and so on won’t be on the blockchain, it’s just too slow. Can you explain a bit how you will arrange that part. Will your blockchain send workout to miners and do you develop software for miners to download and use.\n\nAnd will you also develop a wallet just for videocoin when it will have you own blockchain? I also would like to hear some time prediction of when your road map will be more specific, remember you said you will update that. And also when we could begin to see some code on github?\n\nAnswer 10: Nice! Kellam’s right. The blockchain is mainly a database that is used to store transactions and proofs. All infrastructure blockchain projects do this. They do off blockchain work and consolidate proofs on the blockchain. Like Sia or Storj.\n\nAnd yes, we have a wallet in the works.\n\nQuestion 11: The VideoCoin network, by Halsey’s own statements, is going to be predominantly comprised of enterprise-level data centers. Individuals don’t have the bandwidth or latency or reliability to act as enterprise-level edge or origin servers. They’ll be mostly limited to transcoding — the least important, easiest job in the equation, which can easily be performed by the aforementioned data centers.\n\nThe owners of these data centers all have the ability to accept USD — they’re big businesses! So I don’t buy your argument here — if we are accepting your argument, the only thing blockchain buys us is the ability to let individuals all over the world perform the transcoding job.\n\nThat’s not compelling enough for me — most of the transcoding is gonna happen in data centers the same way most btc mining is happening in data centers.\n\nAnswer 11: Great question! This is a blog I am supposed to write, never got to doing. Maybe the time has come. 🙂\n\nFirstly, Encoding/Transcoding is one of the most important work as it is compute intensive and algorithmically complex part of the network.\n\nThe reason we need a new native blockchain is to make sure the proof of work to establish a transcoding job can be done reliably.\n\nSo, when you say “Blockchain is just an incentive layer”, it sounds simple, but it take a LOT of engineering to make a video encoding and distribution job to run and make the incentives work.\n\nTo your point that this is a B2B play and this can be done without a blockchain, here is something the blockchain is disrupting that not many people realize: Legal contracts.\n\nOne of the main problems with existing B2B business models is that you need to get into a deal with every single data center and ISP. Imagine the legal bandwidth we would need to make something like that happen. We would need a legal team the size of huge multinational company.\n\nBlockchain revolutionizes this. All a data center has to do is install our mining software and they will be part of the network. No deals, no negotiations.\n\nSure, the first few folks will have to be convinced, but later on it will be an organic growth. Imagine how many people mine BTC, if all these people had to establish legal constructs with the BTC foundation, we would never have had BTC.\n\nThere are many other reasons for a “Why we need a blockchain”, I will do a better job in the blog, but here are some points to ponder on until I write that:\n\n1. Decentralized applications — There is no way to build a truly decentralized network without a blockchain like database. If you have a question on “Why decentral”, we can go on a philosophical debate there.\n\n2. Privacy and participation\n\n3. Ecosystem of distribution partners\n\nI know what Halsey meant by his statements, and it is true. But, there are a lot of other edge and end user compute nodes that are needed for the network to properly perform distribution and edge computing functions. Imagine our mining software running on your cable TV set top box. That is totally possible, and would create a very powerful network of distribution.\n\nQuestion 12: Thank you for your detailed response. I will admit that my intuitions about the relative importance of transcoding and the inability for individuals to act as edge/origin servers could be unfounded. Time will tell — however, I struggle to imagine a world where Hulu or HBO would allow something as critical as data streaming to happen through a personal Internet connection. But we’ll see.\n\nHowever, I do not understand your point about legal contracts. If you were going around building contracts with data centers around the world, *you would be a traditional cdn*! That’s literally what a cdn company does — they get POP contracts with data centers around the world and resell the bandwidth for profit.\n\nThe whole point of VideoCoin is to eliminate all that — if you have a data center, you can hook up your machines to the network and monetize your resources as a cdn without hiring engineers and marketing and support staff, and content streamers can hire your resources through an open marketplace — no marketing necessary!\n\nSo, with or without blockchain, you’ve obviated the need for POP contracts — instead of cdn companies building POP contracts with data centers around the world and reselling the bandwidth to streaming companies, you now have an open marketplace to connect streamers with data centers.\n\nThe POP contracts are gone — with or without blockchain!\n\nAnswer 12: Very insightful question again, thanks!\n\nRe: Netflix or Hulu using VideoCoin — In the beginning, it will be difficult for companies like NFLX or HULU to use VideoCoin exclusively for their infrastructure. I agree. But, we’ve introduced an all new concept of “Relay Miners” who basically act as a bridge for these companies to gradually migrate to decentralized networks. It is similar to the way CDN caching is used. If there is a cache miss, the CDN forwards a request to the origin server. Similarly, a client will try to pull from VideoCoin network first and if it fails, it falls back to a relay miner or falls back to a centralized cloud backup.\n\nRe: POP Contracts: You’re right, we have obviated the need for them, the blockchain is needed for people to transparently prove that work was done and get compensated for it. In the example of a traditional CDN, the buyer and seller is pretty much set, the seller meters usage and charges the buyer. With VideoCoin (and other decentralized systems), buyers and sellers directly execute a “smart” contract that can prove actual work was done. So the blockchain is doing the metering work in our case.\n\nThe main difference however is that with the traditional model, you trusted the seller to meter usage properly, but in a decentral blockchain powered model, you do not need trust, you can verify the proofs.\n\n\nJoin us for discussion in our Telegram group: https://t.me/videocoin",
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      "body": "Streaming media is booming and everyone is getting onboard. A 2015 report by Cisco predicted that in 2016, 6.1 exabytes of data were to be consumed on mobile platforms. It was expected to rise to 9.6 exabytes in 2017 and jump to 15.2 exabytes in 2018. Without knowing the exact numbers, it is safe to say the demand and growth will continue.\n\nIf you’re involved with streaming media, you either know all about video transcoding, or you’re wondering why you keep hearing about it. If you aren’t sure you need it, that places you in the second camp. An understanding of video transcoding and how to do it is critical for any success with streaming video; especially if you need to deliver streaming video to a variety of different devices.\n\nWhat is Video Transcoding?\nVideo transcoding, sometimes called video encoding, is the conversion from one digital encoding format to another, such as for movie data files. This involves translating all three elements of a digital video at the same time — the file format, the video, and the audio.\n\nThis is a vital function when a target device does not support the current format of your media, or has limited storage capacity that requires a reduced file size (think going from WMV to MP4). It is also used to convert incompatible or obsolete data to a better-supported, read newer, video format.\n\nWhy is Transcoding Critical?\nVideo transcoding is critical when you want your content to reach more end users.\n\nFor example, you’re preparing to do a live stream from your office. It’s a possibility that you’re capturing webcam audio and video with a browser-based desktop application like Adobe Flash, which generates 1080p H.264 video and Speex audio.\n\nYour show will be delivered live to online viewers; however, an attempt to stream it directly will have problems:\n\nThose viewing without sufficient bandwidth won’t be able to view the stream — they’ll be watching the ‘buffering’ circle.\nIn order to render the Speex audio, most people will need to watch using Flash Player on a computer. Now you’ve just excluded almost anyone with slower data speeds, tablets, and mobile phones.\nWith video transcoding, you can create a set of time-aligned video streams, each with a different bitrate and frame size, while converting the Speex audio to AAC audio. This group of streams is internet-friendly, allowing you reach virtually any screen on the planet.\n\nHow is Video Transcoding Done?\nVideo begins life in a format unique to the camera or program used to capture your images and sounds. This is typically not the format needed to deliver the video online or play it from another device. Video transcoding is used to change the original format into one allowing the video and audio to play properly on a user’s devices — be they computer, tablet, smartphone, or tv.\n\nVideo encoding, or video transcoding, involves a two-step process. First, the original file is decoded to an uncompressed format. Second, this uncompressed format is then encoded into the target format.\n\nWhat are Formats and File Types in Video Transcoding?\nWhen talking about video transcoding, we refer to file formats, file types, and something called codecs.\n\nVideo format specifies how video and audio have been combined and tells playback devices how to play the files.\nVideo and audio codec formats refer to the technologies used to both create and play back the digital video and audio.\nExamples of file types are MPEG-4 (MP4), Quicktime (MOV), and Flash Video (FLV). The key variable in most cases is the streaming platform you use. Always check what formats and codecs are supported by the platform you wish to use, and whether your video file must be converted to a supported format.\n\nDaCast, for example, requires an MPEG-4 (MP4) file format with an H.264 video codec. Windows Media Video (WMV) files are Advanced Systems Format (.asf) files that include audio, video, or both compressed with Windows Media Audio (WMA) and Windows Media Video (WMV) codecs.\n\nMP4 video provides better quality and compression over WMV, allowing you to store better quality video for the same file size. A good video transcoding program will be able to convert multiple file formats and codecs.\n\nWhat is the Future of Video Transcoding?\nThe demand for streaming video has exponentially increased the demand for video transcoding, and clearly, streaming video is here to stay. Why?\n\nConvenience\nNo one likes being tied to a schedule, and streaming video allows you to watch your programs when and where you have the time to watch them. You can watch them on a bus, you can watch them on a train. You can watch them…well, you get the picture.\n\nDemographics\nMillennials and Generation Xers are leading the trend toward streaming video. 63% of Millennials watch live video, and streaming services put that capability in the palm of their hands.\n\nPersonalization\nVideo streaming apps and services make recommendations based on user viewing profiles. In other words, they customize your buffet of recommended content based on your personal interests.\n\nScalability\nMany streaming video services allow you to pick and choose the features and functions you want, and only pay for those selections. If you don’t use it, you don’t pay for it.\n\nWhile these are all fantastic reasons to enjoy streaming video, the necessary video transcoding still presents some problems.\n\nIncreasing Need for Storage — Video transcoding is a somewhat cumbersome process that also leads to an issue of storage capacity, especially with the increasing use of video. 82% of internet storage is video.\nIncreasing Online Traffic — According to Cisco’s Virtual Networking Index report, online video could make up 82% of all online traffic by 2020, up from 59 percent in 2014. Video is already far and away the largest source of network bandwidth consumption.\nIncreasing Need for Video Compression — As billions of users make and use massive volumes of video, video compression has become a critical technology to help manage skyrocketing bandwidth requirements.\nSolutions are being developed to help with storage and performance. VideoCoin is one such example. VideoCoin is a decentralized video encoding, storage, and content distribution system that will allow for unused storage across the internet to be allocated.\n\nThe platform turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID). Why not learn more about how VideoCoin is decentralizing this landscape?",
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      "body": "All of us here at VideoCoin want to welcome you and encourage you to use any of our many communication channels to engage directly with us.\n\nI personally discovered Bitcoin in 2012 and launched the crypto wallet Uphold in 2013. I’ve noticed over the years I’ve been involved in this new industry that Bitcoin is like a many faceted diamond. What one sees depends on the direction from which one looks. I’m still glimpsing shiny new things nearly 6 years later! 6 years is a lifetime for a new technology to still be imparting new lessons. Bitcoin and crypto are wide and deep in lessons and undeniably here to change far more than money.\n\nBitcoin, of course, lets money flow globally, near instantly, and in sizes small and large. This is well known now. What’s less well known is the fact that Bitcoin, the blockchain to be specific, will also change the way mankind computes. Beyond money, Bitcoin and crypto are creating an entirely new architecture for computing.\n\nBitcoin accomplished something that had never before occurred in computing. It proved that people would be willing to connect their computers with special software that includes a digital wallet into the Internet and get paid for remote computation, big and small, and do so without any centralized sales team selling them on the idea. Bitcoin computation grew and grew and it did so totally organically.\n\nAt first people simply used their home computers and then increasingly larger scale resources were added to the network. Never before had anyone been able to simply connect a computer to a network and get paid in digital money that could be converted back into the fiat and used to buy even more computers. At first this seemed just to be a novel “trustless” way to track the flow of value, but it was so much more.\n\nThe world of computing keeps flipping back and forth, from decentralized to centralized and back again. For eons many people were needed to do all of the calculations necessary to accomplish mankind’s major achievements — like building pyramids and rockets — which is a very slow and decentralized way of computation. In the twentieth century these people with pen and paper were called “computers”.\n\nAlong came the mainframe computer in the 1960s and as seen on the movie Hidden Figures it replaced hundreds of people doing hand calculations for NASA. NASA no longer had a need for human “computers”. All calculations could now be done by one machine. Calculations moved quickly from decentralized human computation to highly centralized based on mainframe computers.\n\nIn the 1980s and 1990s it was a different story. It was the age of the server and client-server computing. Companies tried to switch as fast as possible from mainframes to much smaller servers, each replacing a single mainframe application. The goal was to replace the big, cumbersome, centralized mainframe computing model. Client-server computing was born and the age of decentralized computing began anew.\n\nAs the 1990s came to a close people like me were seeing the possibility of using the Internet to once again centralize computation in what became known as cloud computing. CNET, salesforce.com, Google Voice, and OpenDNS were all personal efforts to let the cloud do what individual computers did before. No longer did companies need to build and manage their own internal servers. The vast number of servers companies accumulated were becoming very hard to maintain and they did not have the deep domain expertise needed. The same applications could be created in the cloud, each built for and used by many companies at the same time. It was far cheaper and less complex and the cloud quickly swallowed company servers and centralized all of the complexity using new cloud application providers.\n\nMost people believe this is where the story ends. In fact it’s just the introduction to the most exciting story in the history of computing. While Bitcoin brought prodigious resources onto the network to simply account for the flow of bitcoin between parties it was quietly doing something else. It was creating one of the largest computational infrastructures in the history of mankind. The blockchain that Bitcoin built was capable of scaling ad hoc with no central point of resource control. People simply connected computers, got paid, and it all scaled in much the same way as the Internet.\n\nVideoCoin borrows much from what the blockchain has already proven, namely that people will connect computers to a network to get paid to do work and as demand scales so too does supply. VideoCoin creates a new class of miners who do real work, not just accounting. Computers are connected to the network and they can provide some or all of the following processes required for video: computation to “encode”, storage of the encoded output, and distribution upon schedule or demand. In addition, servers can be configured to connect with traditional video cloud providers like Amazon Web Services or the Google Cloud in a hybrid model as we embrace the video services of today and build a home for the video services of tomorrow.\n\nAll servers in the world can encode video and then that video must be stored and streamed. These are all very basic functions that can be performed by devices that range from super powerful servers to smartphones. Additionally, today there are a massive number of servers that have been purchased and are not used at all! These “zombie” servers can in a flash be turned into VideoCoin mining machines.\n\nThe advent of smart money and the blockchain allow all of these resources to be identified, tested, and compensated to create a much less costly way to deal with what has become 80% of Internet bandwidth, video. We believe this will not only save media companies and other video creators and application providers tens of billion of dollars each year, but it will also allow for entirely new applications to emerge.\n\nBecause VideoCoin is an open source project it not only leverages the best minds but it also allows for the next YouTube, Netflix, and micro-targeted video applications to emerge. Allowing for easier innovation in video is essential because video and reality are on a collision course today. With VR, AR, AI, and super high resolution video coming, video itself is going to go through its greatest transformation since its original creation. What is video and what is reality will simply become points on a continuum, with the two becoming very hard to distinguish between.\n\nThe decade to come is going to bring amazing new technologies forward, technologies principally driven by the transformation of video and the advent of the blockchain. We believe we at VideoCoin are at the center of this innovation and would very much welcome your participation. The world to come is almost unfathomable but we believe VideoCoin and you will be at the epicenter of this coming transformation and will play a key role in defining our future.\n\nJoin our Telegram discussion group: https://t.me/videocoin",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/videocoin/videocoin-and-the-blockchain-the-new-future-of-cloud-computing-bcc9204b5a9",
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      "title": "VideoCoin and the Blockchain, the New Future of Cloud Computing",
      "body": "All of us here at VideoCoin want to welcome you and encourage you to use any of our many communication channels to engage directly with us.\n\nI personally discovered Bitcoin in 2012 and launched the crypto wallet Uphold in 2013. I’ve noticed over the years I’ve been involved in this new industry that Bitcoin is like a many faceted diamond. What one sees depends on the direction from which one looks. I’m still glimpsing shiny new things nearly 6 years later! 6 years is a lifetime for a new technology to still be imparting new lessons. Bitcoin and crypto are wide and deep in lessons and undeniably here to change far more than money.\n\nBitcoin, of course, lets money flow globally, near instantly, and in sizes small and large. This is well known now. What’s less well known is the fact that Bitcoin, the blockchain to be specific, will also change the way mankind computes. Beyond money, Bitcoin and crypto are creating an entirely new architecture for computing.\n\nBitcoin accomplished something that had never before occurred in computing. It proved that people would be willing to connect their computers with special software that includes a digital wallet into the Internet and get paid for remote computation, big and small, and do so without any centralized sales team selling them on the idea. Bitcoin computation grew and grew and it did so totally organically.\n\nAt first people simply used their home computers and then increasingly larger scale resources were added to the network. Never before had anyone been able to simply connect a computer to a network and get paid in digital money that could be converted back into the fiat and used to buy even more computers. At first this seemed just to be a novel “trustless” way to track the flow of value, but it was so much more.\n\nThe world of computing keeps flipping back and forth, from decentralized to centralized and back again. For eons many people were needed to do all of the calculations necessary to accomplish mankind’s major achievements — like building pyramids and rockets — which is a very slow and decentralized way of computation. In the twentieth century these people with pen and paper were called “computers”.\n\nAlong came the mainframe computer in the 1960s and as seen on the movie Hidden Figures it replaced hundreds of people doing hand calculations for NASA. NASA no longer had a need for human “computers”. All calculations could now be done by one machine. Calculations moved quickly from decentralized human computation to highly centralized based on mainframe computers.\n\nIn the 1980s and 1990s it was a different story. It was the age of the server and client-server computing. Companies tried to switch as fast as possible from mainframes to much smaller servers, each replacing a single mainframe application. The goal was to replace the big, cumbersome, centralized mainframe computing model. Client-server computing was born and the age of decentralized computing began anew.\n\nAs the 1990s came to a close people like me were seeing the possibility of using the Internet to once again centralize computation in what became known as cloud computing. CNET, salesforce.com, Google Voice, and OpenDNS were all personal efforts to let the cloud do what individual computers did before. No longer did companies need to build and manage their own internal servers. The vast number of servers companies accumulated were becoming very hard to maintain and they did not have the deep domain expertise needed. The same applications could be created in the cloud, each built for and used by many companies at the same time. It was far cheaper and less complex and the cloud quickly swallowed company servers and centralized all of the complexity using new cloud application providers.\n\nMost people believe this is where the story ends. In fact it’s just the introduction to the most exciting story in the history of computing. While Bitcoin brought prodigious resources onto the network to simply account for the flow of bitcoin between parties it was quietly doing something else. It was creating one of the largest computational infrastructures in the history of mankind. The blockchain that Bitcoin built was capable of scaling ad hoc with no central point of resource control. People simply connected computers, got paid, and it all scaled in much the same way as the Internet.\n\nVideoCoin borrows much from what the blockchain has already proven, namely that people will connect computers to a network to get paid to do work and as demand scales so too does supply. VideoCoin creates a new class of miners who do real work, not just accounting. Computers are connected to the network and they can provide some or all of the following processes required for video: computation to “encode”, storage of the encoded output, and distribution upon schedule or demand. In addition, servers can be configured to connect with traditional video cloud providers like Amazon Web Services or the Google Cloud in a hybrid model as we embrace the video services of today and build a home for the video services of tomorrow.\n\nAll servers in the world can encode video and then that video must be stored and streamed. These are all very basic functions that can be performed by devices that range from super powerful servers to smartphones. Additionally, today there are a massive number of servers that have been purchased and are not used at all! These “zombie” servers can in a flash be turned into VideoCoin mining machines.\n\nThe advent of smart money and the blockchain allow all of these resources to be identified, tested, and compensated to create a much less costly way to deal with what has become 80% of Internet bandwidth, video. We believe this will not only save media companies and other video creators and application providers tens of billion of dollars each year, but it will also allow for entirely new applications to emerge.\n\nBecause VideoCoin is an open source project it not only leverages the best minds but it also allows for the next YouTube, Netflix, and micro-targeted video applications to emerge. Allowing for easier innovation in video is essential because video and reality are on a collision course today. With VR, AR, AI, and super high resolution video coming, video itself is going to go through its greatest transformation since its original creation. What is video and what is reality will simply become points on a continuum, with the two becoming very hard to distinguish between.\n\nThe decade to come is going to bring amazing new technologies forward, technologies principally driven by the transformation of video and the advent of the blockchain. We believe we at VideoCoin are at the center of this innovation and would very much welcome your participation. The world to come is almost unfathomable but we believe VideoCoin and you will be at the epicenter of this coming transformation and will play a key role in defining our future.\n\nJoin our Telegram discussion group: https://t.me/videocoin",
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