I'm a bit unfamiliar with the really technical aspects of this type of software. Does it just compress frame rates or does it rip it into an entirely different format?
Shrink compresses Video and rips it to VOB, IFO and BUP files. Afaik, it compresses like all other ripping / compressing software. With DVD Shrink you do have more control of what Video Tracks get compressed and by what %.
Now that I've read most of the glossary, I'm understanding it a bit better. So just to clear it up for me, dvdshrink transcodes the data, as opposed to encoding the data?
I'd consider DVD Shrink an encoder as Transcoding requires an encoding process. It encodes as it compresses, removes Macrovision and removes Region Code. Although, the resulting output is left in it's native file form. (Audio or Video is not renamed)
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Transcoding or more specifically Compressed-domain Transcoding means normally a re-encoding process that changes the video or audio features, such as resolution or bitrate, by changing parts of the a/v content, but not by reconstructing the content again (which is the case in encoding process). Compressed-domain transcoding also maintains the format of the file same as in the original file.
Encoding means that a file, whether it is an audio, video or picture file, is compressed to another format that normally takes up less physical drive space than the previous format.