This is a campaign thread for a Livepeer transcoder node:
Edit on 5/30/18 - After 28 rounds of running with a 0% reward cut, I intend to move to a reward cut parameter of approximately 10-15%, to encourage decentralization and increase transcoder competition. See below update. As a delegator, expect to keep 85-90% of the rewards in proportion to your stake.
Initially I intend to run a fee share of 0% or near 0%, so I will keep the small fees that broadcasters pay to use the infrastructure I’m running.
Who Am I?
I’m Doug Petkanics, founder of Livepeer. You can find me:
Why do I want to run a transcoder on Livepeer?
I am interested in running a node in the early days of the Livepeer network for two reasons:
- To keep a pulse on the needs of transcoders as a critical role in the Livepeer network. By playing this role for a little while it will better inform our engineering roadmap, and product decisions around user needs.
- To ensure reliable service for early developers and broadcasters looking to test the network during the alpha.
I am not interested in running this node for short term financial gain, nor to make a business out of scalable transcoding. I much prefer to resign and delegate towards other, more qualified nodes who are competing to provide this service in a cost effective and scalable way, as soon as they emerge from the ecosystem.
Why you may want to delegate towards me
I pay very very close attention to Livepeer in all regards. I am intimately familiar with the protocol having designed it. I care a lot about the success of the network. During the early days I want to ensure that broadcasters and developers have a good experience using Livepeer, so I am happy to spend quite a bit of time running and monitoring this node, fixing things that break, and updating the node software to run more reliably.
Why you may not want to delegate towards me
I suggest you delegate towards other nodes if you believe they will provide reliable service that can be cheaper or more scalable than what I am providing. I also suggest you delegate towards other nodes if they are bringing some alternative benefit to the project such as development or community building.
I intend to resign this node as soon as more focused, reliable, and scalable node operators emerge and prove that they can run reliably.
What hardware will I run?
I will not be spending significant time, money, or effort on dedicated hardware for this purpose, as I intend to resign this node as soon as reliable transcoders emerge who are doing so. I’ll be running cloud instances that are CPU optimized in order to handle the FFMPEG-based CPU encoding workflow that the Livepeer node currently supports.
As I experiment with redundancy solutions and monitoring setups, I will update this post to report what works.
My goals are to call
reward() every day to distribute newly generated token, and to have > 96% availability for transcoding jobs during the first month of the network.
I hope this gives transparency into my motivations for running a node and how I intend to operate it. I’m happy to answer any questions that people have as they’re deciding who to bond towards.
And I look forward to more inspirational and competitive campaign threads than this one, from all the great people building amazing things in the open video ecosystem!