Transcoder Campaign: Chainflow Transcoder


#1

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 = 25%
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.


#2

The forum only allows new users like me two links in the post. Here are a couple others I hoped to include -


#3

Hey, it looks like the direct link to the 0xdoaa transcoder address which is active is different than the address shown in the campaign post above 0xf96…

Update to the original post in order?


#4

Yes! I’ve updated the original post. Thanks for catching that.


#5

Chainflow Livepeer Transcoder Weekly Update - 4 August 2018

This is the first Chainflow Livepeer Transcoder weekly update. The intention is to provide full transparency into the Chainflow Livepeer Transcoder’s operation.

This week Livepeer decided to increase the number of active transcoders from 10 to 15. The Chainflow Livepeer Transcoder went live when the number increase!

I feel excited about this. My gratitude to those who’ve staked with me so far. Today our collective stake is 4578.4. This puts the Chainflow Livepeer Transcoder at spot 12 on the list of 15 active transcoders.

This week, the Chainflow Livepeer Transcoder also went down for the first time. I think this happened yesterday. I’ve been working last evening and this morning to bring it back online. I’m also using this downtime to upgrade the server. It’s now a 4GB Linode VPS.

I’m still working to bring it back online. This forum post shows you how I’m doing that.

This experience turned my attention from learning -

-How to get a transcoder running

To -

-Keep a transcoder running and recover from downtime, planned and unplanned

The latter is my focus for the upcoming week. I plan to continue upgrading the Chainflow Livepeer Transcoder soon too. It feels important to understand how to restart a transcoder, without missing a reward round, to upgrade it on regular basis.


#6

Ok, it looks like the Chainflow Livepeer Transcoder is running again!

As mentioned above, the server’s upgraded too.


#7

Weekly Update - 12 August 2018

Welcome to this week’s Chainflow Livepeer Transcoder update. This week we stayed in active mode at #11 in the list of 20 transcoders.

Our LPT balance at the time of writing is 7985.88 LPT. This is an increase from last week’s ~4600 LPT balance.

My gratitude to everyone’s who’s delegated their LPT and trust to me to-date!

(You can join us by delegating here.)

Our transcoder went down last week. See last week’s update :point_up_2: for details. I was able to bring the transcoder back online shortly after writing last week’s post. This caused us to miss one round of rewards.

I also used the downtime as an opportunity to upgrade the server. The upgrade seems to have helped. We haven’t experienced downtime or missed a round of rewards since the upgrade.

I’ve spent my transcoder attention and time exploring a few things this week -

1 - Monitoring

How can we monitor a transcoder and be alerted of key events, i.e. server down and other causes leading to possibly missing a reward round? Yondon responded by letting me know he’s made a start here.

2 Running the livepeer process as a systemd service

This would make the process easier to run and log. It would also allow automatic process restarts in case the process is unexpectedly terminated.

I’m doing something similar with the Cosmos Validator I’m running. I started a script this week, based on the script I use for Cosmos.

3 - Looking at the available Supermax stats

Supermax provides smart contract stats. You can see our transcoder stats here. They need some work to become human-readable.

I also attended the ENS Workshop, since I’m the ENS project manager. I connected with Doug and helped get a team working to map transcoder addresses to more usable .eth domains.

Catch you next week. If you have any questions in the meantime, add a comment here or catch me in the Chainflow Livepeer Transcoder Telegram channel.

P.S. Want to join us? Please
do by delegating here!

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