Video transcoding is a technique used to convert a compressed input video stream with an arbitrary format, size, and bitrate into a different attribute video stream different attributes to provide a efficient video streaming service for the customers is dispersed in the heterogeneous networks. Specifically, frames deletion occur in a transcoding scheme that exploits the adjustment of frame rate, and at this time, the loss in temporal relation among frames due to frame deletion is compensated for the prediction of motion estimation by reusing motion vectors in the would-be deleted frames. But the processing time for transcoding don't have an improvement as much as our expectation because transcoding is done only within the transcoder. So in this paper, we propose a new transcoding algorithm based on prediction period to improve transcoding-related processing time. For this, we also modify the existing encoder so as to adjust dynamically frame rate based on the prediction period and deletion period of frames. To check how the proposed algorithm works nicely, we implement a video streaming system with the new transcoder and encoder to which it is applied. The result of the performance test shows that the streaming system with proposed algorithm improve 60% above in processing time and also PSNR have a good performance while the quality of pictures is preserved.