Transcoder Campaign: Figment Networks

Transcoders Transcoder Campaign
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Hello Livepeer Community!

Longtime lurker, first time poster, big time believer.

After studying how to best help the network, we’ve decided decided to launch a Transcoder through our crypto operating company, Figment Networks. We also run validators on networks like Cosmos, Masternodes on networks like ZenCash, as well as ASIC + GPU mining.

Here is our Transcoder address:
0x9d2b4e5c4b1fd81d06b883b0aca661b771c39ea3

You can view us and delegate near the bottom of the page here, but hopefully not at the bottom for long!
https://explorer.livepeer.org/transcoders

Why launch a Transcoder?
Our team has a history with internet infrastructure - from launching one of Toronto’s first dial-up ISPs, to operating a web hosting company, to running a global database service - we’ve had a lot of fun playing with servers and networks over the years :slight_smile:

We think we can help in two ways:

  1. Creating user friendly web pages and monitoring systems to give Delegators more insight into Transcoder operations. This should help bring more Delegators into the community and help with education.

  2. Open sourcing our behind-the-scenes infrastructure setup, build out, and ongoing maintenance. This should help bring more Transcoders into the community and also help current Transcoders share best practices.

Infrastructure
Our team is spread out across the far reaches of Canada and the United States, and we plan to run servers in both countries to better serve the network. We plan to run servers in multiple AWS availability zones and multiple Digital Ocean locations.

To start, we are running an EC2 instance in the Canada Central region of AWS, and will scale it up as required. We hope to help test multiple nodes and pooling as the research progresses.

Rewards and Fees
We plan to do 45% Reward Cut, 15% Fee Share, and 145 GWEI Price. In addition, we will be posting proof of Reward() calls to our public monitoring system web page when it launches within the next few weeks.

While the Reward Cut, Fee Share, and Price are important, our goal in running a Transcoder this early on is to learn how to best contribute and be helpful to a network like Livepeer. This community and project are pursuing many innovative things (MerkeMine, DPoS, etc), and our hope is that we can help make the network successful and learn and share best practices to help the broader crypto ecosystem.

Please reach out with any questions or ideas (contact@figment.network) - thanks!

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As a heads up, the Figment Networks node is now active once again, as the number of transcoders on the Livepeer network increased from 10 to 15.

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Update - we’ve relaunched our Transcoder!

After first launching in June 2018, we paused our Transcoder while we focused on releasing open source software and running validators/bakers for Cosmos and Tezos.

You can see everything we’ve been working on here: https://figment.network

We’ve learned a lot about operating decentralized infrastructure and now have the resources to dedicate full time to Livepeer again.

Our strategy is to create tools to bring transparency to blockchain operations for both individuals and institutions. Our system is designed to allow for custom/unique deals and fee arrangements and we are relaunching now with an institutional partner - look for more info on that soon!

We’ll also announce when we’re ready to share more software tools to help the Livepeer community.

Please reach out with any questions and we appreciate your delegations!

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