With NFT+, creators and publishers can compile multiple media assets, of any type, into a single NFT. The VideoCoin token is an important part of the ecosystem and is its native protocol token. Storage miners can earn VideoCoin tokens by storing videos, and they receive better rewards by pledging more storage. Distribution miners earn tokens by delivering videos, and the more bandwidth they offer, the better their rewards.
- It’s like a multitude of chefs feverishly racing to prepare a new, extremely complicated dish — and only the first one to serve up a perfect version of it ends up getting paid.
- The VideoCoin Network will start integration of its decentralized video processing network with Filecoin, which has a large and low-cost storage network, to offer a platform optimized for video NFTs.
- I saw Bitcoin and other currencies as a way of forming a new kind of payment system.
- If you want to get into the business of earning money by running a computer, you have to go buy a specialized card.
- Getting started is as minimally complicated as setting up a Paypal account.
- The NFT video marketplace will be available sometime in the future, Minor said.
In the first, a client could use VideoCoin’s storage, distribution, and encoding to create a decentralized variation of YouTube, letting creators earn VideoCoins from consumers. A person (or group, or company) mines bitcoin by doing a combination of advanced math and record-keeping. These blocks are known, collectively, What is VideoCoin as the “blockchain,” an eternal, openly accessible record of all the transactions that have ever been made. Through its integration, VideoCoin is architecting a solution to reliably create, store, and trade video-based NFTs that circumvents the inherent complexity and expense of storing actual data on Ethereum.
What is bitcoin?
When you click on a video on YouTube, to your joy, playback starts almost immediately. All the technological magic that happens behind the scenes from the point you clicked on the video till you see it https://www.tokenexus.com/ play on your browser is a good summary of what cloud video infrastructure does. NFT+ allows the creators to build a multi-asset narrative that combines as many elements as they want, of any media type.
- So the software serves as this remarkable new payment system — you can just take your computer, download our software and you start any video clients.
- VIVID is the technology platform the industry has been waiting for to rocket the business of NFTs to the next level.
- Video transcoding, sometimes called video encoding, is the conversion from one digital encoding format to another, such as for movie data files.
- The VIVID platform makes it easy for anyone to rapidly create an NFT marketplace with all the core capabilities of NFTs.
- VideoCoin has teamed up with decentralized storage service Filecoin to crack the storage problem.
The rules you can see above decide what pattern means what. Similarly, video codecs are basically rules that help you convert “bitstreams” to visible images. Video is basically just a series of still images displayed in quick succession, usually 30 (slightly) different images are shown every second, which tricks your brain into thinking it is watching a smooth flowing “motion picture”. In the example above, the galloping horse “video” is pretty much a series of images as shown in the breakdown below it showed to you in quick succession. Updateable NFT+ are also updateable throughout their lifespan – even if they’ve already been minted or sold, further increasing their value. For instance, a fan who purchased an artist’s music album as an NFT+ can add additional photos, video clips, and other media to the existing NFT over time, personalizing it to their own experience.
Written by Vivid Labs Team
You go past YouTube and it’s really hard to find anybody who’s done anything that is a significant innovation to video. As mentioned, developers will be able to create applications thanks to VideoCoin’s open-source nature and APIs. These applications can make it possible to reimagine some of the most popular video platforms as decentralized peer-to-peer applications.
(There are numerous mathematical and economic theories about why Nakamoto chose the number 21 million.) This makes bitcoin different from stocks, which usually have some relationship to a company’s actual or potential earnings. Peer-to-peer platforms are places where users can buy Bitcoin directly from other owners. Fiat money (like the US dollar) is backed and regulated by the government that issues it. On the other hand, Bitcoin is the complete opposite – it is regulated by its network of users.
Explain like I’m 5: VideoCoin (Part
Video 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. Examples 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.
But we’ll also spend a lot of money and time trying to seduce developers to come in and build on top of our infrastructure. I think ultimately you should be able to develop video sites like you’d develop websites. I built web publishing software because I knew exactly what I needed to build and that helped everybody else in the industry.
677 members, 357 online Decentralized Video Encoding, Storage, and CDN. Find out more at the official project…
Imagine YouTubers minting NFTs as they record their videos. Imagine empowering news organizations to attack deep fakes by creating immutable records of historical fact. Imagine video NFTs becoming evidence in legal disputes from insurance to home invasions. Imagine minting moments from your own life to be authenticated, exchanged, and passed on to friends and generations of family members.