Part two of a multi-part series on Netflix's efforts to rebuild their video processing pipeline with microservices. The blog dives into the details of building a video encoding service on the Cosmos platform, aiming to modernize Netflix's media processing pipeline for improved flexibility and efficiency. The platform consists of three layers - API layer, workflow layer, and serverless computing layer - that communicate asynchronously to process media, ensuring scalability, flexibility, and efficiency in the video encoding process.