VideoCoin Network Has Entered Testing Stage For Its Content Platform

Announcements, Blockchain, Innovation | February 2, 2019 By:

After a year of research and development by a team of blockchain and digital video engineers, the VideoCoin Network announced today it has launched the Private Alpha version of its blockchain powered video infrastructure platform for distributing, encoding, and storing video content.

The network is a decentralized video encoding, storage, and content distribution system that turns all cloud-based video services into an algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID), developed by the VideoCoin Development Association Ltd. (Cayman Islands).

Powered by a large-scale, distributed cloud video infrastructure, the VideoCoin Network will usher in “the new cloud” by marshaling underutilized computing resources from around the world to revolutionize video with blockchain technology.

The VideoCoin Network ecosystem claims it will lower costs by deploying unused compute resources, enable a new generation of applications via open APIs and open source-based development, allow for peer-to-peer video distribution, and increase privacy with decentralized, end-to-end encryption.

The alpha release consists of several important components including a Wallet App, Command Line Interface to interact with the network, a block explorer that visualizes transactions on the network and a powerful and scalable infrastructure backend that can be used to access the VideoCoin Network. Developers interested in submitting an application to participate can visit https://videocoin.network.

This news comes on the heels of the debut of the Live Planet VR System, which will be the first major use-case running on top of the VideoCoin Network. Live Planet partnered with the VideoCoin Network as the first pilot implementation to harness the power of blockchain to make 4K stereoscopic 3D video cloud processing more efficient and secure. In addition to Live Planet, the VideoCoin Network is now accepting a select few partners to join the Alpha program.

Other use cases the VideoCoin Network is demonstrating include:

  • Game streaming for a Twitch like use-case

  • Vlogging, a mix of blogging and streaming

“Having led teams at Intel and Cloudera in complex cloud video systems, I’m blown away by the progress of all teams involved,” said Devadutta Ghat, CTO at Live Planet and Chief Architect at VideoCoin.