Explain like Im 5: VideoCoin Part 1 by Devadutta Ghat VideoCoin

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. The streaming markets are extremely centralized in a small handful of large companies, including the cloud storage firms that host the videos. Decentralization offers the opportunity to redistribute some of the control, which would be to the benefit of smaller filmmakers and studios. Furthermore, the use cases for these platforms isn’t limited to movies and TV and can be extended to other genres such as sports, concerts, and event-driven broadcasts.

Direct distribution

Video is stored as an encoded “bitstream”, which is just a series of 1’s and 0’s written to a file. The set of rules that determine how to read these 1’s and 0’s and display them as images is known as “codecs”. Video is basically just a series of still images displayed in quick succession, usually 30 (slightly) different images are shown every second, which tricks your brain into thinking it is watching a smooth flowing “motion What is VideoCoin picture”. In the example above, the galloping horse “video” is pretty much a series of images as shown in the breakdown below it showed to you in quick succession. When I invested in Salesforce and started it with Marc [Benioff], nobody believed that people we’re going to put data in the cloud. NFT+ allows the creators to build a multi-asset narrative that combines as many elements as they want, of any media type.

Are Movies And Streaming The Next Frontier For NFTs?

This provides extremely robust, resilient storage to protect the NFT+ from breakage due to storage provider or marketplace unavailability, shutdown, or loss. NFT+ is Vivid Labs’ name for the powerful NFTs the VIVID platform produces. NFT+ enables several unique advanced features, transforming ordinary NFTs into rich, programmable multimedia experiences. Vivid Labs sees NFTs as going well beyond today’s notion of mere digital collectibles, where 1 NFT equals 1 asset.

• Theta is building its own network of storage and distribution and will accommodate the number of nodes to host all the video content on its network.
• This process of “price discovery,” the primary driver of volatility in bitcoin’s price, also invites speculation (don’t mortgage your house to buy bitcoin) and manipulation (hence the well-documented talk of tulips and bubbles).
• The source is then encoded which compresses these raw images using codecs (pretty much like .zip file specially built for videos).
• VIVID’s NFT+ unleashes the ability to create a rich entertainment experience, a dynamic digital collectible, and a living, permanent store of legacy – all crafted as the creator imagines it.
• There’s an idea out there that’s been pursued in a number of businesses quite successfully.

Storing your Bitcoins: Hot wallets vs. cold wallets

You can do this by clicking on the “New Account” button in your videoCoin wallet and filling out the required information. VideoCoin uses blockchain technology to ensure security and transparency of transactions. Moreso, royalties are turning out to be one of the most fascinating enablers https://www.tokenexus.com/a-history-of-bitcoin-hard-forks/ for NFT use cases. None of these are possible if your NFT is not compatible across platforms. To solve this we support a metadata approach that utilizes ERC721 and ERC1155 but extends it to support digital media rights and tracking ownership transfers across established NFT platforms.

• Proof of ownership uses an encryption key with cross-platform compatibility, meaning that the NFT keeps its market value independently of what happens to the issuer.
• Theta has attracted investment from Samsung and Sony to develop its peer-to-peer video distribution network.
• The action you just performed triggered the security solution.
• It’s the original bitcoin, but with increased capacity and speed.
• It’s always worth buying a few coins and familiarizing yourself with the system—but it’s probably best to refrain from sinking more than a token amount of your hard earned money in a cryptocurrency that started life as a joke.
• So, the company is called Live Planet because the idea is to put these cameras everywhere.

Natural Selection Tour launched their NFTs series as a unique extension to their immersive community engagement. Anytime that you can reduce the cost of something, you unleash new forms of innovation. Now, we will change that with VR and maybe some others, but, I think in time, we will we will build other applications on top of our infrastructure. But we’ll also spend a lot of money and time trying to seduce developers to come in and build on top of our infrastructure.

Propel the video infrastructure to the future

I think ultimately you should be able to develop video sites like you’d develop websites. All of this has led to video now being 80% of the Internet and growing at a 25% compounded annual rate. Just in this industry in general, just for background, I started my first company in crypto in 2013. One of the few companies that are connected to the US banking systems so you can connect your bank account. It’s not as big as CoinBase but I ran that for two and a half years. There was so much regulatory stuff, it just drives me crazy.

So large that they need to be compressed, encoded, stored in bits, delivered in bits, decompressed, reassembled, and finally burnished back to that highest quality. 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. No crypto is necessary, dramatically lowering the barrier to entry for NST fans and buyers. And processing performed on the highly efficient VIVID blockchain delivers eco-friendly, low-impact NFT minting and management. Vivid Labs built an app to enable Shopify merchants to mint and sell advanced, multimedia NFTs directly from their Shopify store.

• But video NFTs also have great potential beyond just being collectible.
• Each Satoshi is equivalent to a hundred millionth of one Bitcoin, so owning fractional shares of Bitcoin is quite common.
• Finally, you will need to add each of the copied URLs into your account’s “Uploads” section.
• You can watch them on a bus, you can watch them on a train.
• I left CNET to help John Dylan and then Marc [Benioff] build Salesforce.
• When you wake up in the morning, you know pretty precisely how much a dollar can buy.
• Early day theatrical and exhibitor releases, to movie rental and Big Box chains, to today’s streaming services are built on the backs of Hollywood’s intellectual property owners who “own” the fan relationships.

In 2017, a federal judge ruled that Coinbase must surrender records to the IRS on transactions of $20,000 or more. Coinbase’s regulation troubles have continued into this year, with the SEC blocking a new lending product Coinbase planned to release in September 2021. Legal and regulatory hazards aside, as both an investment and currency, bitcoin is very risky. When you wake up in the morning, you know pretty precisely how much a dollar can buy.