  In a video on demand system, the main video repository may be far away from
the user and generally has limited streaming capacities. Since a high quality
video's size is huge, it requires high bandwidth for streaming over the
internet. In order to achieve a higher video hit ratio, reduced client waiting
time, distributed server's architecture can be used, in which multiple local
servers are placed close to clients and, based on their regional demands video
contents are cached dynamically from the main server. As the cost of proxy
server is decreasing and demand for reduced waiting time is increasing day by
day, newer architectures are explored, innovative schemes are arrived at. In
this paper we present novel 3 layer architecture, includes main multimedia
server, a Tracker and Proxy servers. This architecture targets to optimize the
client waiting time. We also propose an efficient prefix caching and load
sharing algorithm at the proxy server to allocate the cache according to
regional popularity of the video. The simulation results demonstrate that it
achieves significantly lower client's waiting time, when compared to the other
existing algorithms.
