Encoding and Storage tasks on the VideoCoin platform are submitted to the VideoCoin Network along with encoder configuration parameters like bitrate, codec, and output containers format, along with an ASK price. Miners compete with other miner to win bid and provide compute power or storage space to the VideoCoin Network.
Retrieval and Distribution tasks on the VideoCoin platform are submitted to the VideoCoin Network along with CDN configuration parameters like geographical region and bandwidth. Miners compete with others to win bid to retrieve videos from storage miners and distribute it to end-consumers, like a CDN.
VideoCoin Blockchain is specifically built to power video streaming which requires fast transaction times.VideoCoin uses proof of work to make use of Hardware accelerated Video functions on GPUs and CPUs and implements a proof of stake model to power complex decentralized video infrastructure.