Halsey Minor and All-Star Cast Launch Decentralized VideoCoin Network

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Halsey Minor, co-founder of Live Planet, CNET, and Salesforce.com announced, last month, the launch of his newest venture: VideoCoin, a network to leverage unused computing power for decentralized video encoding, storage, and distribution. Other high-profile, internet video industry veterans working on the project include Chief Architect of the Intel Video Transcode Service, Devadutta Ghat; two-time Emmy Award winner and Governor of Interactive Media at the Television Academy, Seth Shapiro and SVP of Digital Video Initiatives at Paramount Pictures and Technicolor, Seth Skolnik. The project has USD 25 million in funding committed and the crowdsale will be held in early 2018.

VideoCoin aims to usher in ‘the new cloud’ on a secure, public blockchain, by marshalling low-cost computing resources from around the world to revolutionize video. The video encoding, storage, and content distribution system turns all cloud-based video services into an algorithmic market, running on a new blockchain with a native protocol token, the VideoCoin (VID), says the company’s statement.

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VideoCoin says it will seek to address the issues of rising costs, centralization and privacy in the online video marketplace, which makes up over 80 percent of all internet traffic. The VideoCoin blockchain will be designed for fast transactions, with combined Proof of Work and Proof of Stake systems to support complex storage and computation needs, said the company, in a statement.  VideoCoin aims to enable a new generation of video applications by developing open APIs and using peer to peer encrypted distribution, 

The first application to use VideoCoin’s blockchain enabled video infrastructure will be Live Planet. Founded by Minor, it allows the easy capture and distribution of live VR and 360° video.

“VideoCoin 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,” stated Minor. “VideoCoin creates a new class of miners who do real work, not just accounting. Blockchain is the breakthrough innovation that lets us create a better infrastructure for the future of online video.”

To learn more about VideoCoin, visit www.VideoCoin.io.

About Alex Behrens

Alex started his professional career in a data analyst role at a global electrical components distributor before transitioning to work in the blockchain industry full time in 2017. He has performed research and analysis on multiple projects including traditional securities and cryptocurrencies, and has contributed to operational design for cryptocurrency mining and other entrepreneurial projects since 2015. Alex graduated from Ithaca College in 2014 with a BS in Finance and a minor in Politics.

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1 COMMENT

  1. […] The protocol aims to returns control to content creators and publishers by making any streaming online video clickable, with options to shop, chat, donate, and search within an interactive frame. These activities will be monitored by the protocol to measure interaction and performance in a transparent way. The metrics are then stored using a blend of public and private blockchain technology, and analysis of this data — including how users behave even if they do not interact directly with the IVEP — will be used to enable vastly improved ad-fraud-fighting capabilities, according to the company’s statement. Developers, designers, advertisers, and creators will be able to continuously add new features and smart objects to the IVEP layer over time, says the statment, and to discover collaborative opportunities leveraging the recently announced VideoCoin Network. […]

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