Participated · Initial Coin Offering · May 2018

The VideoCoin Network is a decentralized video encoding, storage, and content distribution system that runs an algorithmic market for cloud-based video services using a native protocol token (VID). It intends to marshal underutilized computing resources worldwide to lower costs, enable new applications via open APIs and open-source development, disintermediate large media incumbents, and increase privacy with decentralized end-to-end encryption. The project is developed by the VideoCoin Development Association Ltd. (Cayman Islands). After closing its private presale, the team plans to ramp up global marketing, roll out Meetup events, and publish an updated product roadmap and strategic partnerships. VideoCoin did not conduct a public contribution round because of exceptionally strong private demand and instead announced an upcoming Airdrop to allow broader community participation. The articles describe the network as aiming to create a new "cloud" for video by leveraging blockchain technology and distributed compute resources. VideoCoin operates a decentralized video encoding, storage, and content-distribution system that uses a public blockchain and a native protocol token (VID) to coordinate work and rewards. The network turns cloud-based video services into an algorithmic market by capturing unused computing capacity in third-party data centers. Users who contribute resources receive tokenized rewards for participating in video content processing. VideoCoin’s public blockchain is custom-built for speed and efficient processing of large media files. The company was founded by Halsey Minor, CEO of Live Planet, and is based in Los Angeles, CA. The company announced an initial funding round of $5M to support development and network growth.