Delegate to the Chainflow Livepeer Transcoder
Are you here to delegate to the Chainflow Livepeer Transcoder? Wonderful and welcome!
Delegate to the Chainflow Livepeer Transcoder here -
0xd0AA1b9d0cd06caFA6AF5C1aF272be88c38AA831
If you’re not ready to delegate (yet!), please keep reading.
Who’s #BUILD’ing the Chainflow Livepeer Transcoder?
I’m Chris. I caught the blockchain brain virus in early 2016. I’ve become deeply involved in the crypto and blockchain ecosystem since then. Twitter’s (@cjremus) a good place to see what’s on my mind at the moment.
I first learned about Livepeer at the 2017 Token Summit and the idea resonated with me right away. I introduced myself to Doug then and we’ve stayed in contact since that time.
You can learn more about my experience and history here. In short, my background is heavy on telecom and IT infrastructure. My first job was as a self-taught UNIX system administrator. Those systems ran Sprint’s first IP-based Cisco Router network.
In my pre-blockchain life, I worked on large, mission-critical data center and networking projects. My clients were some of the largest financial and government institutions in the world. (And yes, I’m grateful NOT to be doing THAT anymore!)
I also took an early (too early!) shot at building a Netflix for Bollywood. High bandwidth costs, provided by an oligopoly, were one of the reasons we closed the business. This is one reason Livepeer and it’s mission resonates so strongly with me.
Why am I doing this?
I feel hopeful and optimistic about a decentralized future. I’m optimistic that decentralization will decentralize power. It’s my belief that centralization of power causes many of the world’s biggest problems. I’ve felt powerless most of my life.
My hope is that decentralization results in a more fair distribution of power, wealth, and opportunity. This transcoder is one of my contributions toward manifesting a decentralized future.
I’m also a believer in Proof-of-Stake (PoS). I believe PoS is more inclusive and sustainable than Proof-of-Work (PoW). I’m speaking from experience here as I have experimented with PoW mining. To me, that ship has sailed in the direction of centralization. It’s becoming more centralized each day.
This re-centralization favors the shrinking number of participants able to access a lot of capital. PoW also consumes an inordinate amount of resources, at the expense of the planet’s future.
Who’s this transcoder for?
I’m building and running this transcoder for the Livepeer community. Who’s the community?
My evolving community definition is individuals and groups -
- Optimistic about a decentralized future.
- Supporting the Livepeer Network.
- Building other blockchain and crypto projects that will integrate with the Livepeer Network.
The Chainflow Livepeer Transcoder has no minimum staking requirement. This is my intention.
Hopefully the staking protocol and ongoing transcoder administration support this. I intend for it to be a guiding principle in running the Chainflow Livepeer Transcoder.
Who aren’t these for?
The Chainflow Livepeer transcoder isn’t for individual and groups -
- Speculating on crypto prices and ICO’s, e.g. day-traders, speculators, scammers and spammers.
- Driven purely by financial interests.
- Hoping to extract a quick buck from crypto and blockchain projects and their communities.
What’s the Chainflow Livepeer Transcoder network and roadmap look like?
I’m running a single Linode 4GB VPS now. I can upgrade this VPS with minimal downtime. The plan is to scale the server up as necessary and finances permit.
My hope is the transcoder supports itself over time. Right now it is being funded from my own pocket.
In parallel, my focus is on minimizing security risk and downtime. This means adding monitoring, redundancy, and security. I’ll also automate services as it makes sense to do so.
Over time, I intend to run a transcoder as a Distributed Autonomous Organization (DAO). I’d like to use the tools I’m helping #BUILD at the Aragon Project to do this. Experience running this transcoder will help me understand how a DAO can run one too.
What fee share, reward cut and price will the Chainflow Livepeer Transcoder use?
These numbers will change over time. I’m learning as I go. I’ll update these numbers to reflect what I’m learning.
I’ll provide plenty of notice before changing anything. This will allow you to make an informed decision whether to stay with me or move to another transcoder.
What won’t change are my guiding principles. These principles are to -
- Distribute enough rewards and fees to stay within the top 10 transcoders.
- Keep enough rewards and fees to maintain and improve the network.
- Keep a percentage of rewards and fees to repay myself for the time and effort invested in running the transcoder.
- Maintain full transparency into the distribution and uses of rewards and fees.
I’ve reviewed all the current Transcoder proposals. Based on the review, this feels like the right starting point -
Reward Cut = 5.00%
Fee Share = 35%
Price = 150 GWEI
Now ready to delegate?
Are you now ready to delegate? Fantastic!
Delegate to the Chainflow Livepeer Transcoder here -
0xd0AA1b9d0cd06caFA6AF5C1aF272be88c38AA831
Still have questions?
Thanks for reading this far. If you have additional questions, email me here.