VideoCoin – Decentralized Content Distrubution For The Masses

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

VideoCoin is a decentralized content distribution network that runs off of its network of users. The more one contributes to the network, the faster videos can be encoded, stored, and distributed to the world. This content will be uncensored and the network can scale to handle any and all amounts.

Video for reference

ICO Details

Name of the ICO: VideoCoin

Website: https://videocoin.io/

Token: VID

Hard Cap: 50,000,000 USD

Payment Methods: Unknown

Total CS: 780 million tokens

Technology: Open source distribution platform

Important Dates: Sometime 2018

Pre-ICO: $35 million

Public Sale: N/A

Whitepaper: https://storage.googleapis.com/videocoin-preico/VideoCoin-Whitepaper.pdf

The team behind VideoCoin are working on a decentralized video storage, encoding, and content distribution network (CDN) running on the blockchain. It is predicted that 79% of all global internet traffic will be internet video by 2020. By that same time, there will be over three trillion minutes of video uploaded every month.

Because of this growth, centralized video distribution platforms are having a hard time keeping up. Networks are slowing down, and scalability is becoming an issue. VideoCoin wants to replace these platforms with a decentralized one with open APIs and a community-centric open-source development plan.

Project Use Case

Essentially, VideoCoin takes advantage of their networked computers to devote resources towards encoding, processing, and storing content with a focus on video. With this technology, the project is sort of like YouTube or another content distributor, but with privacy features, worldwide scalability, and free of censorship.

This platform will reduce encoding, storage, and distribution costs from 50 to 80%, with users participating to earn tokens. A user could be a company providing their data centers, a person sharing their cloud storage, and a consumer subscribing to content creators. It is a proof-of-stake network, meaning that the more one contributes to the network, the higher their reward will be.

Team

VideoCoin is headed by Halsey Minor. Halsey is an internet entrepreneur who has founded or worked on projects like CNET, Google Voice, Salesforce and Live Planet. Otherwise, you have Devadutta Ghat who founded Intel’s Video Transcoding Service (which is the foundation for Facebook’s video platform.) Finally, the team has the Director of the Television Academy and two-time Emmy Award recipient Seth Shapiro.

This team has a lot of technological power behind them, but it remains to be seen if the idea here is unique enough to stand out from the competition. It’s hard to say until we have more information provided to us.

How Does The Token Work?

The token will work in two cases: as a form of payment and as a reward for different forms of mining. For payment, clients will spend their VID to rent video foundation services or to develop new sharing platforms. On the other hand, the consumer consists of either a content creator or a customer. Creators will earn tokens by creating, while customers will use tokens to pay for their subscriptions.

There are four different types of miners on the VideoCoin network: storage, distribution, compute, and relay miners. Storage miners earn tokens by pledging storage to the network. The more they pledge, the more they are rewarded. Distribution miners earn by sending videos to viewers. The more videos they deliver, the more bandwidth the network supports, and these users are rewarded. Computer miners provide transcoding to the network, and relay miners are rewarded by providing third-party storage to VideoCoin.

How Will The Investor Make Money?

The VideoCoin network is built entirely on a proof-of-stake consensus algorithm. As an investor puts more money into the network, they are providing more service to keep things running. The more this service is used, the more the investor is rewarded for their help. Miners also earn transaction fees based on their work.

Opportunities & Risks

VideoCoin will be built with a full stack video protocol layer. As time goes on, more applications will be built to add to the network. There is a strong group of teams and advisors with tons of experience in 4k streaming and live content distribution. While other projects are working on content distribution, none of them are highlighting video as much as VideoCoin.

The team is incredibly active in Telegram, answering any and all questions asked by the community. Also, there are a large amount of big-time crypto investors behind this project.

However, a lot of essential project information is being kept secret from the public for now. This could be a red flag for potential investors. Plus, a ton of projects talk about their solutions for scalability, but a lot of these are pure speculation for now. Most of them haven’t gotten far enough for actual testing, and VideoCoin is in the same position. Finally, VideoCoin’s focus on peer-to-peer distribution could lead to illegal content being shared on the platform.

Overall Thoughts & Conclusions

Video quality is only going to rise as time goes on. With that, so will video sizes. Virtual reality, augmented reality, and other technologies are a large factor in this. Sports networks, visual projects, and news outlets are looking to immerse their viewers as much as possible. With the power of the blockchain, VideoCoin’s encoding, storage, and distribution methods can greatly outclass the ones we see today.

That said, there are other blockchain projects focusing on data storage that are a lot further along, with way more backing than VideoCoin. Should these bigger coins switch their focus to video, they could run VideoCoin into the ground in no time. However, VideoCoin has some big backers behind it, so the project may be able to fight back. As more details are revealed, we will be able to form a more informed opinion on the matter.

Ratings and Sentiments

Community: 2 Stars

Prototype: 2 Stars

Tokenomics: 4 Stars

Team: 3 Stars

Idea: 3 Stars

50% Positive

Status – Put Control Back In The Users Hands

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

Status’ goal is to be the easiest place to get into the blockchain. It is doing so by targeting one of the most accessible devices in the world: the mobile phone. Decentralized applications are one of the biggest benefits to the blockchain, and introducing the world not only to them but to how they work is a fantastic idea.

Video for reference

What Is Status & How Does It Work?

Status (SNT) differs from most other currencies in that it is a decentralized mobile operating system with its own browser and secure messenger. It links to the Ethereum network, allowing users connect to it entirely via their mobile device.

Essentially, Status makes Ethereum’s decentralized applications much more accessible to the general public. The blockchain has somewhat of a high learning curve so anyone but crypto enthusiasts may have a hard time getting into the systems. Status’ solution is allowing these users to access it via their most comfortable device – their smartphone.

Say there is a social media platform on Status. Instead of providing the owners and advertisers all the power, these social networks place the users first via Status Network Tokens (SNTs) which we’ll break down a little later.

It is free, open-source, and encourages users to get into developing decentralized applications. Their client is called the Decentralized Push Notification Market, which lets users opt in and out of notifications and services, though one must pay SNTs for any services they use. However, Status doesn’t profit from selling user information to advertisers.

SNT is staked into the network, and the community votes on the future of SNT’s development. The amount of held SNT determines your “vote tokens” which signifies how much influence you have. This setup allows users to curate the content they’d like to see. Status’ social media platform is trying to solve all the current issues users face.

Currently, Status houses a few applications, such as one that allows exchanges of ERC-20 tokens and Ether, or an insurance claiming application. As more users delve into Status, this number will increase.

The Tokenomics

As mentioned, the Status Network Tokens are staked by users to choose what services they’d like to use, alongside voting for the future of the network. To create a username on Status, you’ll need to stake some SNT as well. This prevents spamming and hackers from delving into the system.

The Roadmap

There is no official roadmap for Status. Instead, the team is working on incorporating new applications into the network. Currently, they are working on an app directory, an app that lets users exchange cash for cryptocurrency in an area near them, and a marketplace for buying stickers for use in messaging.

Otherwise, the team is working on solidifying their platform, upgrading their Hardwallet, which is the official wallet for Status coin, and their Open Bounty platform, which acts as a freelance job board for developers.

The Team

Status has one of the biggest teams in cryptocurrency. As of this writing, there are over 40 members, with 10 advisers on top of this. Most of the team is working on app development, while others handle the marketing and community management.

It was founded by two people, Jarrad Hope and Carl Bennetts, who previously created a software distribution network which they used to fund the Status project before the ICO.

Community

Reddit: https://www.reddit.com/r/status_token/

Twitter: https://twitter.com/ethstatus

While the team is very big, the Status community is fairly small. They provide updates via their blog. The subreddit is run by the community and prefers not to have the Status team commenting on or monitoring content if they can help it. This allows them to keep a very transparent stream of information coming, without any bias towards the project.

That said, the community is dedicated and working to build the network with the team. The plan is to have a network entirely governed by its users.

Exchanges

Status’ coin is available on quite a few exchanges, with Huobi, Bittrex, and Binance being among the biggest of them. Since it has only been tradable for just over a year, we still have a while before it would hit something like Kraken with all of its trading pairs. That said, the coin has some promise behind it, so it’s entirely viable to expect Status to rise up in 2018.

Wallets

Status’ SNT coin is ERC-20 compatible, meaning you can store it in a variety of wallets. MyEtherWallet, MetaMask, and hardware wallets like Trazor or the Ledger Nano S also work. That said, they also have their own wallet called Hardwallet.

Hardwallet allows users to send, store, and receive ERC-20 tokens. It is completely open-source, available on mobile, and works with ETH and of course SNT as well.

What’s Next For Them

Mobile technology is the biggest and most accessible form in existence. It only makes sense to bring the blockchain there to introduce it to the world. By making Status community run and as easy as downloading an application to delve into, the project has high chances of picking up a ton of attention as time goes on.

With Status, the team is creating a decentralized social media platform that can do it all: provide communication, offer useful applications, and allow users to pick and choose what they want to utilize. The rise of Web 3.0 is to put control back into the user’s hands, and Status wants to be there leading the pack.