VideoCoin Network Partnering With Storj Labs

VideoCoin Network, operated by Live Planet, Inc., will enhance its next-gen video infrastructure solution by partnering with Storj Labs, Inc., in decentralized storage.

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 a fast, safe, and resource-effective object storage alternatives.

VideoCoin Network’s program assembles next-gen video solutions to enable the decentralized future of video services – a growing need in light of ovid-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 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, Live Planet, operator of the VideoCoin Network. “Their capabilities 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 enhances the VideoCoin Network infrastructure by adding its decentralized storage capabilities to VideoCoin Network’s stack of media processing solutions.

Features and benefits include: 

• User access to a 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 reconstitute data that is broken into smaller pieces and stored on a global network
• Access to the massive 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-gen infrastructure for the encoding, storage, and distribution of video uses a 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 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 expanding its Innovators Program, which enlists the most disruptive forces in media, video distribution, and technology. This assemblage of transformative resources are enhancing its infrastructure and furthering its mission of delivering 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, 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 Cco-founder Ben Golub, Storj Labs taps into thousands of spare capacities on disk drives across the globe to provide a  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 encryption by default and techniques to break up data for redundancy.

VideoCoin Network expects to partner with additional innovators like Storj Labs.