Theta Network have expressed that the Theta Edge Node are adding new video transcoding jobs.  They say this is the first step in Theta tackling the $1.1B annual transcoding market.

For clarity, Video Transcoding is the process by which video files are converted from one format to another.  This is a very important task done by several networks to make sure that the video will be apt for use by different users from across the world using different kinds of video players.  They are in a way continuing to improve usability for users beyond limitations imposed by internet speeds, latency and several other factors.

We are living at a point in time where there is an ever increasing number of media and entertainment content getting shared and therefore the video transcoding industry is gaining a real-time need.  The demand level is real.

Theta Edge Network Progressing in Transcoding

Such videos are on-demand because it is live streamed and there is an increase in the numbers of users who are in to video shopping online.  There is an increased demand for social user-generated videos.  All of these videos should be transcoded to be in a consumable format for viewers from across the world.

The transcoding work can get done seamlessly with Theta’s distributed Edge Network, and users will be earning TFUEL in exchange for doing these compute-intensive jobs.

Theta’s distributed Edge Network are set to be testing with sample videos to track reliability, speed and efficiency to further progress to making possible actual uploaded videos from Theta.tv and further expanding to customers from other networks.

The workflow in this process is in-demand as they are facilitating a turnkey solution, which will be seed to be attractive from all video platforms for their use.  Therefore, there is an expectation that there will be more available jobs for the edge nodes to complete.

First of all a monthly pool of 150k TFUEL is set to be allocated in rewards to the “edge nodes” for the transcoding services they facilitate.  Thus, they will be further expanding as more of the video platforms join the network and they will be able to pay with their own TFUEL.

This will likely evolve in the future to be the go marketplace for the distributed computing services where providers will be able to decide the price for discrete jobs and edge nodes will be bidding for these jobs to optimize their profits, this improving their earnings and efficiency.