GRAND CAYMAN, Cayman Islands, Jan. 31, 2019 /PRNewswire/ -- After a year of research and development by a team of seasoned blockchain and digital video engineers, the VideoCoin Network announced today it has launched the Private Alpha version of its blockchain-powered video infrastructure platform for distributing, encoding and storing video content. This release consists of several important components including a Wallet App, Command Line Interface to interact with the network, a block explorer that visualizes transactions on the network and a powerful and scalable infrastructure backend that can be used to access the VideoCoin Network. Developers interested in submitting an application to participate can visit https://videocoin.network.
This news comes on the heels of the debut of the Live Planet VR System, which will be the first major use-case running on top of the VideoCoin Network. Live Planet partnered with the VideoCoin Network as the first pilot implementation to harness the power of blockchain to make 4K stereoscopic 3D video cloud processing more efficient and secure. In addition to Live Planet, the VideoCoin Network is now accepting a select few partners to join the Alpha program.
Other use-cases the VideoCoin Network is demonstrating include:
- Game streaming for a Twitch-like use-case
- Vlogging, a mix of blogging and streaming
"Having led teams at Intel and Cloudera in complex cloud video systems, I'm blown away by the progress of all teams involved," said Devadutta Ghat, CTO at Live Planet and chief architect at VideoCoin.
About the VideoCoin Network:
The VideoCoin Network is a decentralized video encoding, storage and content distribution system that turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID), developed by the VideoCoin Development Association Ltd. (Cayman Islands). Powered by a large-scale, distributed cloud video infrastructure, the VideoCoin Network will usher in "the new cloud" by marshaling underutilized computing resources from around the world to revolutionize video with blockchain technology. The VideoCoin Network ecosystem will lower costs by deploying unused compute resources, enable a new generation of applications via open APIs and open source-based development, disintermediate media behemoths with peer-to-peer video distribution and increase privacy with decentralized, end-to-end encryption. For more information, visit https://videocoin.io/ or our blog, follow us on Twitter and join our Telegram group here.
About Live Planet:
Live Planet Inc. develops infrastructural technologies to transform the world of video toward a more compelling, controllable future for consumer and business applications everywhere. The company was founded in 2016 by serial entrepreneur Halsey Minor, a technology visionary behind notable successes including CNET, Uphold, Salesforce, Google Voice, OpenDNS and Vignette.
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. VideoCoin tokens and virtual currencies, in general, are not legal tender, in any country, and are not backed by any government as legal tender, nor should they be treated as such.
This release constitutes a description of the VideoCoin Network and the functionality of VideoCoin tokens. It is for informational purposes only and may change as the technology develops over time.