April 23, 2020

How to buy VideoCoin (VID) and profit from streaming video

VID

Not a single developing and promising Internet technology remains outside the scope of blockchain developers. It also applies to streaming video. In contrast to the large giants that occupied this market, the VideoCoin platform was developed. It works on the principle of blockchain, and for its maintenance there is a token with the same name.

In short: VideoCoin was created based on the Ethereumblockchain. In total, it is planned to issue 265 million tokens, of which 43.74 million are currently in circulation. The price of VideoCoin is about $0.0498. The most active exchange is KuCoin.

Cryptocurrency and video

Cloud video services are extremely popular and promising. Experts predict that by 2021, the video will account for over 80% of all Internet traffic. It is a lot, given that, according to Brandwatch, 78% of U.S. residents watch online video weekly, and most of them even every day.

Thinking about it, Halsey Minor decided to use blockchain and cryptocurrency to stream video (including its processing, storage, and distribution) and eventually invented the VideoCoin platform. The VideoCoin token (VID) was created to service the platform.

VideoCoin network is a video content-encoding, storage, and distribution system that turns cloud video services into an efficient market. This project can be compared to Uber for video content delivery on the Internet. Essentially, VideoCoin creates a new cloud storage system by combining computing resources across the globe using blockchain technology.

Costs are reduced by attracting unused resources, developing new generation applications using open APIs, and open-source developments. The process is optimized, as well as mediocre media giants with peer-to-peer video distribution are eliminated thanks to the decentralized platform. It also enables greater privacy.

How to sell VideoCoin (VID)

The most active exchange is KuCoin. Popular altcoins for exchange: Tether (USDT) and Bitcoin (BTC). 

The exchange within the network takes place between miners providing video infrastructure services and clients who spend VideoCoin on renting services.

The process has two stages. Encoding and storage tasks are transmitted to the VideoCoin network together with the coder configuration parameters such as bitrate, codec, and format, as well as ask price. The miners compete with each other to win the tender and provide processing power or storage space for content.

Then search and distribution tasks are transmitted to the VideoCoin network together with CDN (content delivery network) configuration parameters. Miners compete with each other to win a tender to receive video from storage miners and distribute it to end-users. It seems to be the main way to buy VideoCoin (VID).

Reputation token

Reputation token

VID functions not so much as a payment currency, but as a reputation token based on betting mechanisms. By the choice of the network algorithm, participants are selected as operators who process video files according to several criteria: price, number of supplied tokens, and performance.

After completion of the tested work, VideoCoin network protocol distributes both fixed payments and additional VID tokens among operators. Operators receive direct payment, and their reputation is strengthened with additional tokens. It ensures that the best and most reliable nodes become operators while stimulating demand for tokens.

As for how to sell VideoCoin (VID) profitably, experts predict earnings up to 600% in the foreseeable future. It will happen if Facebook, Amazon, Apple, Netflix и Google (FAANG) decide to join the process of reducing costs, for which they will need many tokens. Then it will be time to sell VideoCoin.

More reasons to trust

Halsey Minor’s previous projects are considered successful, so the current project is also credible. In 1994, Minor, together with Shelby Bonnie, launched the CNET website, which was acquired by CBS Corporation in 2008 for $1.8 billion.

Another successful project is GrandCentral Communications (Google Voice service provider), CRM on the Salesforce platform. In 2014, the businessman founded Uphold, the cryptocurrency exchange, and Live Planet, the VR-company. VideoCoin was the next project, which was launched in 2017. He managed to attract investments from solid funds and hire serious consultants.

Minor finds promising projects, finishes them, and leads to success.

VideoCoin is not a competitor to FAANG

According to the creator’s idea, the service will be cheaper and better even compared to such giants as Facebook, iCloud from Apple, Amazon, Netflix, Google, YouTube. 

However, the creators of VideoCoin understand that competition is difficult and in many ways,it is not necessary. That is why they plan to make blockchain and cryptocurrency so attractive that the above companies will use them as a tool.

FAANG is interested in lower costs and, according to VideoCoin forecasts, the companies will reduce the cost of services and use of streaming video services by 60-80%. Thanks to it, the network will grow.

The VideoCoin team promises no inflation, as the work model implies remuneration for miners without issuing new tokens or using fiat money.

This year tokens will be issued on February 27, May 27, and August 27.