After months of research and development, the VideoCoin project has introduced its blockchain-powered video infrastructure platform, the VideoCoin Network. This development was dated 27 August.
Devadutta Ghat, CTO at Live Planet expressed –
“We built the VideoCoin Network from the ground up as a next generation solution to allow anyone to stream video using our blockchain-powered video infrastructure platform. I’m thrilled to officially unveil the VideoCoin Network today, marking a major milestone on our journey to revolutionizing the multi-billion dollar video streaming market.”
VideoCoin explained the offering was for distributing, encoding, and storing video content, transforming the disrupting business of video processing and delivery. The media content firm further added that for the first time, users could live stream video content on the VideoCoin Network enabled by the VID Token. The VID token is now available on the KuCoin and Beaxy cryptocurrency exchanges.
VideoCoin Network sustained by adding that it was the first blockchain project to integrate a third party fiat payment processor. This was supported by a host of banks. VideoCoin further elaborated that the model was optimized to enhance the utility of the VID token. VideoCoin noted that in order to put VideoCoin contributors in a winning position and ensure optimization, the team burnt 66 percent of its total token supply.
Halsey Minor, CEO of Live Planet commented that they were thrilled for the launch of the VideoCoin Network. She opined that video was fundamental to the human experience. Halsey conveyed that it was the way to connect, the way to learn, the way to express, the way to grow. Halsey finally added that decentralization of video infrastructure through the VideoCoin Network was the ideal approach to progress.
Bitcoin SV provided news about procuring investment from entrepreneur Calvin Ayre. Streamanity is a video platform built on Bitcoin SV (BSV). Bitcoin SV introduced Calvin Ayre as the founder of Ayre Group and CoinGeek. Bitcoin SV also conveyed that Ayre is the key backer of BSV through his CoinGeek mining and other operations. Bitcoin SV added that Ayre expects the investment to further widen the horizons of BSV blockchain growth to entertainment and other sectors.
VideoCoin Network concluded by sharing its industry credentials. The firm is a decentralized video infrastructure platform revamping the process for creating, storing, and distributing digital video content. VideoCoin noted that it was developed by the VideoCoin Development Association Ltd. to run on a new blockchain with a native token, the VID.