What is Videocoin VID ? Beginner’s Guide, Information & Review

The VID token is an ERC-20 utility token using proof-of-stake optimization to determine which workers on the platform perform the work. Anyone who obtains the VaID token (available on Kucoin, Bittrex, and Uniswap) can support Worker nodes through staking, and receive rewards for doing so. VideoCoin Network shares this efficiency directly with its customers in the form of ultra-competitive pricing for its services in comparison to centralized solutions like AWS, Google Cloud, and Microsoft Azure. This delivery – on schedule with the project’s year-long “Road to Everest” release milestones – comes at a critical time with increased demand for video-based entertainment, news, and social applications now dramatically rising due to COVID-19 lockdowns.

Entertain­ment & Media

• As a decentralized video platform, VideoCoin makes improvements over traditional video platforms by leveraging blockchain technology.
• In December of 2020, the VDA announced a 2021 token lock-up of approximately 90MM VID, primarily of those tokens held by service provider partners and the VDA itself, comparable to tokens other projects may designate as “company” tokens.
• The “GME” meme token, which borrows GameStop’s stock ticker, traded 1,247% higher on Monday with a total volume of more than $70 million, according to data from CoinMarketCap.
• Further, VIVID integrates a currency-agnostic payment system (through payment provider partner Public Mint) that removes payment friction and opens NFTs to the general market by enabling transactions in cryptocurrency, or by credit card or ACH in any fiat currency.
• And processing performed on the highly efficient VIVID blockchain delivers eco-friendly, low-impact NFT minting and management.

It is for informational purposes only and may change as the technology develops over time. Most notably, Vivid Labs was founded and is led by famed entrepreneur Halsey Minor, a technology visionary behind some of the greatest successes in enterprise computing, anticipating “what’s next” in enterprise architecture and technology adoption. His companies have created over $270 Billion in cumulative value, and he’s built a NASDAQ 100 company from scratch. These companies include CNET, Salesforce, Google Voice, Vignette, OpenDNS, and the crypto exchange Uphold.

Mobile app wallet & media player

The project also aims to overcome issues related to privacy, namely that consumption and distribution transaction records are transparent to government entities and providers. Keith Gill’s return to social media on Sunday caused prices to surge in a wide range of crypto meme tokens, a flood of which have been created on the Solana network in the past 24 hours. Public Mint is the first fiat-native public blockchain that allows banks, trusts and other financial institutions to tokenize money. Public Pay is Public Mint’s open platform, which allows anyone to create their own payments system, without a bank account – the best of both blockchain and money, with global banking, payments and compliance fully integrated. The VideoCoin Network is proud to announce its partnership with blockchain payment disruptor Public Mint, which has integrated its “Public Pay” open platform to allow for payment in fiat. “As the global video business moves larger volumes of content to Internet delivery, the costs of processing and delivering video have become a huge burden for major media companies. The current crisis has intensified this,” said John Ward, leading US broadcast executive (iNDEMAND, DIRECTV, FOX Sports).

VideoCoin Token Lock Extended for 2022 as Multimedia NFT Project Accelerates Into Transformative Growth Phase

The team at VideoCoin finds the centralization of videos services to be problematic since there is just a single point of failure. The centralization also leads to limited flexible and features as vendors lock in users. Finally, the platform aims to counter the rising costs for media companies thanks to the transition from broadcast deliver to fast-growing IP-based options. VideoCoin specifically aims to overcome obstacles due to regulations, specifically the fact that the quality of service from video service providers can be impacted by deregulation and regulation moves.

“VideoCoin Network’s decentralized solution represents an incredible opportunity to streamline costs, preserve quality and increase efficiencies.” Create vibrant, updateable NFT experiences combining multiple media assets of any type. Using proprietary cryptographic methodology, our NFT+ format allows additional assets to be added throughout its lifespan. The NFT is still “immutable” in that it still retains its uniqueness, provenance, ownership, and how to buy videocoin original content, but can now have ongoing updates of new elements at any time – even after initial minting and resales. VIVID’s advanced features and ease of use directly benefit artists and creators, allowing them to focus on their creative efforts, and offloading the technical aspects of NFT creation. Moreover, as a publishing platform, VIVID also simplifies the significant amount of work required to list and sell an artists’ NFT on a marketplace.

View All Entertain­ment & Media

The https://www.tokenexus.com/ 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. Compute miners provide the CPU time used for transcoding, and as with other miners, they receive better rewards for more computing power. 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.

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It also has a unique proof-of-stake model that powers the decentralized video infrastructure, which itself is complex. Creators of VIVID, the next generation NFT publishing platform that allows anyone to create, manage, and sell multimedia NFTs. Given these estimates, the project is committing to locking 80MM tokens for 2022 — all 70MM from the service providers category and 10MM from the foundation category (leaving a little over 3MM tokens in the latter category unlocked for any overage of estimated need). Natural Selection Tour injected full NFT capabilities seamlessly into their beautifully designed website front end using our simple-to-use NFT platform. Via the VIVID NFT Shopify app and Shopify payment rails, NST was quickly able to set up their NFTs just like any other consumer product for sale on their site.

• Using the CDN configuration parameters, distribution and retrieval tasks get submitted to the network.
• Eventually, block rewards will be very scarce, only impacting the Verifier Pool, which will always remain incentivized via transaction and wattage fees.
• Many of the advantages of VideoCoin over existing video service providers are due to its leverage of the blockchain, which it does in several ways.
• Workers on the platform are assigned jobs based on their reputational stake as reflected by the number of tokens staked to them.

Since the inception of the VideoCoin project in early 2017, we have been hard at work, delivering achievements like our VideoCoin Network Everest MainNet Release, Decentralized Worker nodes, Innovators Program, and our fiat-based payment system partnership. This on-boarding effort is ongoing, and not without its challenges, but its considerable efforts are well-positioned to bear fruit for all the participants in the VideoCoin ecosystem. VideoCoin workers can participate in transcode mining by self staking a minimum amount of their tokens. The transcoding work is distributed to workers in proportion to the total stake on each worker.