I have a video recorded on an iphone. It's a 1080p (Full HD) video recorded at 30 FPS, which is a default iphone setting. Video is about 80 minutes long. It's about 7 GB in total.
I created a proxy using ProRes Medium Resolution Proxy algorithm. The final file ended up being 17 GB, which as I understand is fine, since even though it's lower resolution than original, contains less compression, so that the CPU load is reduced and playback is smoother.
However, when I try to play the video in sequence with proxies enabled, it either starts for just 0.5 second or doesn't start at all and then freezes indefinetly. Audio is still playing though.