Invest in ByteNite

Have you heard of grid computing? It is a collaborative way to achieve larger computer processing capacity — similar to tech giants or supercomputers — with the help of many individual contributors. Anyone with a smartphone, tablet, or PC can make their device capacity available to a virtual network during “down time” in exchange for a reward.

Our grid computing concept has its roots in the awareness that "traditional" cloud computing can’t keep pace with the processing demand and the growing size of internet data. This hidden cost of scalability is primarily paid for by customers who use traditional cloud services. Every year businesses spend $300B+ on cloud computing services that are vastly overpriced because they rely exclusively on expensive data centers. On the other hand, there are online marketplaces to buy and sell almost everything; yet, no one can sell their data processing power besides cloud providers.

Our solution sets the stage for a paradigm shift: what if, instead of high-consumption and purpose-built server farms, everyday processing tasks could be tackled by the devices in our pockets? With a data processing hub powered by grid computing, businesses can buy high-throughput distributed processing services, and anyone can sell their devices’ computing capacity. Such a virtuous cycle will make computing accessible, distributed, and faster.

ByteNite has implemented the first data processing platform powered by grid computing, and the results are set to be extraordinary.

Users throughout the world can earn from their devices, repaying the cost of their new ones and saving the old ones from the trash.Enterprise customers benefit from parallelization with faster performance and lower costs. Our tech allows them to only pay a small contribution to each user and an even smaller fee to ByteNite.

Our products are connected to a core system that monitors and schedules the workflow with a high degree of fault tolerance. The products are:

• A Computing Platform, where customers can configure and submit their high-throughput computing jobs, including custom-made applications and prebuilt services like video encoding, 3d rendering, and AI engines.
• A User App, that — once installed on a compatible device — allows everyday users to solve processing problems from their pockets and earn money.

Find out more about ByteNite’s grid computing product stack at https://bytenite.com/products.

You may wonder how distributed computing can be used, and who our customers are. Our first answer is Video Encoding. In case you’re not familiar with the term, here are a couple of beginner guides about it: Dacast's Guide, Vivid Labs' Guide.
We found out that distributed and mobile computing can revolutionize video encoding, by speeding up the processing time, which is very often a bottleneck in production workflows, especially now that companies use modern high-complexity codecs. As long as prices keep rising with the encoding complexity, medium-sized video companies, like user-generated content or entertainment media platforms, won’t be able to afford better video compression and will lose a substantial stake in the video streaming market. ByteNite is able to offer the same encoding outcomes as high-performance servers at accessible prices.
A quick note – how is distributed video encoding different? Videos can be easily broken down into groups of frames (a.k.a. GOPs) that are sent to different devices and encoded independently. This process is called chunk-based encoding and is known to be very efficient both for live and VOD encoding.

There are plenty of sequential applications that could benefit from parallelization and from our big processing supply. The most in-demand include 3D rendering and Generative AI. We are planning to step into these markets as soon as we’ve reached a product-market fit with our first rollout and raised enough capital to fund R&D and go to market for such products.
In 5 years, we want ByteNite to become the first worldwide grid powering a general-purpose cloud computing platform, where businesses can run their distributed algorithms on a network of millions of available nodes.

At ByteNite, we believe there's a great opportunity to innovate and to do good.
Surprisingly, people living in developing countries usually have a smartphone or a computer, but still struggle to make ends meet. Our solution can generate value from the already existing substructure of devices and help people around the world redeem their power through technology.
In the western world, devices can do more than take selfies, surf social media, and eventually be thrown in the trash. By joining ByteNite, they'll help us cut down on energy use by up to 37% (grid computing eliminates the need for server farm cooling) and reduce electronic waste by 7%.

Grid computing, first developed at research institutions and universities in the 90’s, divides digital work into chunks to be “processed in parallel” by a network of interconnected computers. An iPhone in California can work on the first part of a math problem, while a laptop in Delaware finishes the 3rd part simultaneously. Because computers don’t need to wait for earlier work to be completed, grid computing offers fast processing speeds similar to a supercomputer.

Distributed and grid computing projects are quite old concepts. However, past projects stuck to a paradigm that didn't allow them to get the real traction such a sophisticated technology deserves. Here’s what happened:

• In the early 2000’s some numerical analysis researchers were stuck with fancy astrophysical-signals-searching algorithms which took decades to run because they required a whole lot of simulations. They came up with the idea of having several colleagues' computers tackle their tasks in parallel to make it faster. From this, projects like distributed.net or BOINC were born. These initiatives are still of great help to academic and scientific research today; however, they're not marketable, and users continue to lend their capacity for free.

• In 2009 phantom Satoshi Nakamoto released a Bitcoin white paper and in the matter of ten years the blockchain technology moved from being a new currency system to the reference framework for peer-to-peer decentralized applications. The latter includes grid computing systems exploiting nodes' processing power and network to improve and democratize access to CPU- or GPU-intensive digital services — like video streaming (Livepeer, Theta Network), blockchain mining (Sweatcoin, MinePi), or general-purpose computing (Golem). Although the blockchain offers great security and anonymization, it fails to deliver a compelling cost-effectiveness proposition, or achieve scalability, besides being unable to maintain control over performance. Last but not least, crypto wallets holders represent only a small fraction of all mobile or desktop device (less than 5%) users, setting a cap to the worldwide accessible computing power of the blockchain.

Finally, we have several video encoding competitors – you could’ve guessed it since video represents 80% of the internet traffic, and it needs to be encoded somewhere before streaming. Cloud encoding providers power their services with their own servers or with other cloud providers’, like AWS or GCP. In the first case, they are going to suffer from limited scalability, and in the second case, they are going to be locked into their cloud providers' bills, which are hardly negotiable. Not to mention that only a few services adopt a distributed video encoding technology, and they charge a lot for that.

Here are the bright minds behind the project:

We have raised $500K to put together a team of 3 amazing developers working full-time on the product and to hire UX and Web design companies for our App and client platform. We have collaborated with teams of experts and consulting firms to plan strategic development, and kickstart our sales and marketing. Currently, the beta version of our video encoding platform is live: https://bytenite.com/video-encoding. We have also recently released an API targeted at businesses that encode user-generated content. We plan to develop new features and applications, including generative AI and 3D rendering, to expand the B2B sales team and marketing.

In the meantime, we need your help to keep things going. With an investment of any size through the WeFunder platform, you will hold shares in the US company ByteNite Inc., through a SAFE agreement. To learn more about SAFEs and when and how your shares will pay off, you can read this convenient guide about the YCombinator’s famous investment contract: https://learn.angellist.com/articles/safe-note.

ByteNite WeFunder campaign’s “Valuation Cap” (as defined in the SAFE), is defined in the investment tab on the right (desktop) or on the top (mobile) of this page.

As an early investor in this company, you have the opportunity to invest your money at a low valuation which will not occur again in future priced funding rounds. This chance to invest in ByteNite might also be the only one, as we don’t know if we’ll run another crowdfunding campaign. By joining our mission, you will also become a special member of our community, get exclusive access to our pre-launch releases, and be invited to our company’s cool events in San Francisco.