VideoCoin Network Enhances Offering With New Partner for Blockchain-Powered Decentralized Cloud With Storj Labs

VideoCoin Network, bringing disruptive innovation through decentralization to video processing, today announced it will enhance its next-generation video infrastructure solution by partnering with Storj Labs, a leader and pioneer in decentralized storage.

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This partnership will incorporate Storj Lab’s Tardigrade solution into VideoCoin Network’s growing Innovators Program to combine the most efficient and sustainable video processing infrastructures in the world with one of the fastest, safest, and resource-effective object storage alternatives on the market today. VideoCoin Network’s Innovators Program assembles best-of-breed next-generation video solutions to enable the decentralized future of video services - a growing global need in light of COVID-driven video demand. For media customers of the VideoCoin Network, Tardigrade can provide both long-term, reliable storage for transcoded assets and serve as origin servers for customers’ preferred CDN providers.

“Our Innovators Program significantly benefits from the inclusion of Storj Labs, a key player transforming cloud storage with its never-before-seen decentralized solution and method of blockchain compensation for independent Storage Nodes,” said Halsey Minor, Founder and CEO at Live Planet, operator of the VideoCoin Network. "Their capabilities significantly add to VideoCoin Network’s growing stack of disruptive, decentralized media processing infrastructure solutions, and together, we will streamline operations for media companies, IoT providers, and countless others that can benefit from safe, cost-efficient and independent media processing.”

By joining VideoCoin’s Innovators program, Storj Labs significantly enhances the VideoCoin Network infrastructure by adding its decentralized storage capabilities to VideoCoin Network’s stack of media processing solutions. These features and benefits include:

• User access to the first decentralized storage solution backed by SLAs, guaranteeing 99.9999999% durability, with drop in S3-compatibility
• Greater security, resiliency, and data privacy through end-to-end encryption, and the ability to distribute and easily reconstitute data that is broken into smaller pieces and stored on a global network
• Access to the massive, global network of nodes on the Storj Network, which will offer media companies storage at a fraction of the cost of centralized cloud providers like AWS

The VideoCoin Network became commercially available in May 2020 to solve the problem of increasingly expensive video processing. Its next-generation infrastructure for the encoding, storage, and distribution of video uses a revolutionary blockchain-powered approach that connects media companies with underutilized computing resources in data centers around the world.

By incentivizing and monetizing the immense power of sharing economies and underutilized compute capacity, VideoCoin Network enables everyone from Hollywood studios to amateur videographers to process video content in a secure, scalable and more cost-effective method than provided by centralized cloud providers like AWS.

Since its inception, VideoCoin Network has been steadily expanding its Innovators Program, which enlists the most disruptive forces in media, video distribution, and technology. This assemblage of transformative resources are enhancing VideoCoin Network’s infrastructure and furthering its mission of delivering robust programming, services, and capabilities that can serve as an alternative to more costly centralized solutions.

“Much like Storj Labs has disrupted the cloud storage industry by offering a faster, safer, and more efficient decentralized object storage solution, VideoCoin Network is harnessing the power of underutilized computing resources to solve the problem of constantly rising video processing fees,” said John Gleeson, COO at Storj Labs. “We’re thrilled to combine our capabilities with this game-changing innovation and are confident in our joint ability to completely transform media processing, storage, and delivery.”

Founded in 2017 and currently headed by former Docker CEO and Cofounder Ben Golub, Storj Labs taps into thousands of spare capacities on disk drives across the globe to provide the first-ever S3 compatible decentralized storage solution backed by enterprise-grade SLAs. It compensates its network of Storage Node Operators, who provide the capacity on the network, using blockchain and ensures enterprise-grade security with no point of failure via advanced encryption by default and techniques to break up data for redundancy.

VideoCoin Network expects to partner with additional innovators like Storj Labs. Media companies and video distributors interested in joining the Innovators Program can contact [email protected].

About VideoCoin Network

The VideoCoin Network is decentralized video infrastructure which provides developers with video processing services that are simple-to-use and inexpensive compared to centralized providers. Developed by the VideoCoin Development Association Ltd. and implemented by services provider Live Planet, Inc., the VideoCoin Network runs on a new blockchain and is enabled by a native protocol token, the VideoCoin (VID). Powered by a large-scale, distributed video infrastructure, the VideoCoin Network marshals underutilized computing resources from around the world to revolutionize enterprise-grade video services with blockchain technology. For more information, visit VideoCoin.Network.

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