Transcoder Campaign: Livepool.io - Public transcoding pool

Dear amazing Livepeer community,

My name is Nico, some of you might have seen me around on Discord as member of the livepeer core team. After the Streamflow launch I decided to start my own orchestrator campaign with a sole purpose: create the first public livepeer transcoder pool, Livepool !

While transcoding pools have been a topic of discussion for some time to lower the barrier of entry for many users, there are no concrete efforts underway. Therefore I plan to focus personal time and resources in making this a reality through an iterative approach.

The first steps have already been taken and the plan is to hack together an alpha version at ETHLondon 2020, for which I invite anyone in the community to join the effort !

image

Current Rates

  • Fee cut - 10%
  • Reward cut - 5%
  • Price/Pixel - 45 wei/pixel

All commissions earned by the orchestrator will be spent towards infrastructure and operational costs as well as R&D of the transcoder pool.

Roadmap
Januari 2020 - Launch the orchestrator node and campaign fund the orchestrator with 2000 LPT.
Februari 2020 - Attach first GPU rig to the orchestrator running 2-3x Nvidia 2060 RTX
March 2020 - Release alpha version of the transcoder pool

Delegate to Livepool
Livepool.io in the Livepeer Explorer

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The januari milestone is now complete

Januari 2020 - Launch the orchestrator node and campaign fund the orchestrator with 2000 LPT.

Follow on twitter https://twitter.com/LivepoolCrypto !

Q1 Milestones update

January 2020 - Launch the orchestrator node and campaign fund the orchestrator with 2000 LPT.

DONE - Livepool.io self-delegated 3250 LPT in total

February 2020 - Attach first GPU rig to the orchestrator running 2-3x Nvidia 2060 RTX

DELAYED - We were able to get some cheap Nvidia GTX1070’s on our hands. The parts for the rig have been ordered but there has been some delay in shipment.

March 2020 - Release alpha version of the transcoder pool

ON TRACK - The spec has been completed and a first prototype will be built at ETHLondon !

Hi everyone,

I’m excited to announce that we have completed a first MVP of Livepool at ETHLondon 2020 !

This MVP includes:

  • Extending the go-livepeer client with the necessary functionality to do transcoder pixel based bookkeeping and payouts in ETH
  • Building a dashboard to see the current overview of Livepool such as commission rate, go-livepeer client version, transcoders and their earnings ,…

We’ll continue to test and improve this MVP for the next few weeks until it is ready for an alpha release !

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Small update:

This weekend we’ll be adding some asynchronous verification to Livepool and witholding payouts for transcoders that act malicious.

On another note: the GPUs have arrived !

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You letting anyone do testing?

Hi @Voz

Yes we’ll be releasing on rinkeby by next weekend to get ready for a mainnet release.

Quick development update

  • Development of a landing page using Nuxt.JS is in the final stages (waiting for some images, do some SEO improvements and some cleanup).
  • Added pending balances persistence on the node
  • Local testing to test verifier and balance persistence
  • Updates to the dashboard , convert from static SPA to Nuxt.JS SSR app

The first iteration of the dashboard will be very simple. After that design for a more complex data caching layer for the dashboard with more data being made available over time can be designed.

Update time !

So far there has been a pre-release of the Livepool video miner for macOS, Multi OS builds are coming later this week ! https://github.com/Livepool-io/transcoder/releases

The dashboard is live at https://app.livepool.io/#/overview

You might also have noticed that we updated our Fee Cut to 95%.
This means that 5% of earned fees will still be distributed among delegates. The other 95% will be used to payout the transcoders for their work.

Hi @NicoV

Quite an interesting project for people that want to contribute without setting up an orchestrator.

I did try the livepool tool but couldn’t manage to launch it using my graphic card because of a “cannot allocate memory” error. But it works fine if I omit the -nvidia flag (CPU mode only I guess).

Any idea what is the minimum amount of video memory needed (only got 2G shame one me) ?

Haven’t got the pleasure of receiving any transcoding work yet but I’ll keep it running for curiosity.

Any stats about how often does the pool gets transcoding jobs?

Cheers and keep up the good work !

Hi @OrbiHash thanks for testing out the software! what kind of GPU are you using?

Were you using windows? In that case you should start with the -testTranscoder=false flag.

Transcoding doesn’t use that much video memory. 1080p>720p at 60 fps would probably take a few 100MB at most.

For consumer grade GPUs the capacity is more likely to be capped by the drivers, which limit the maximum amount of NVENC (Nvidia Encoding sessions) sessions to 2. Some googling however should result in a solution.

Here’s an overview of recent consumer grade GPUs:

I

That depends on the streams coming into the network. Livepool currently operates in the EU but we plan to run nodes in different regions in datacenters to serve the remote transcoders and broadcasters that send us jobs efficiently. It then depends on the connected transcoders to do a good job to keep the work.

Currently we have 82k LPT delegated to us, which positions us well to win work on the network. The next job for Livepool is to improve the reliability of the transcoding pool by filtering out bad transcoders, sticking to good transcoders instead of round-robin on each segment etc. That is engineering work on our side.

Livepool Project Update

It’s been a while since the last update, exactly one month actually. Much has happened so far , Livepool has launched a stable release for all platforms (Windows, macOS and Linux) and has been running for a month now.

A few transcoders have already tried out the software and some of them have already earned some ETH (the balances are still pending because it wouldn’t be profitable to pay it out at current times). So all in all Livepool is doing great.

Even more recently Livepool has received quite a big contribution in terms of delegated LPT, the total stake on the network is now 82.2k LPT , which positions the pool very well to win initial work on the network.

Reliability and Transcoder Feedback

In the next engineering cycle of Livepool much work will be done on the reliability front allowing the pool to not only win work but also retain it. Good transcoders will be rewarded while bad transcoders will lose out.

We also plan to expend our operations to serve multiple regions from data centers over the world. This should always give us the bandwith and IO capacity we need to scale and serve different geographic regions over the world efficiently. Livepool wants to be a reliable orchestrator that anyone can connect their GPUs to.

We’ve also invested in a 2 GPU mining rig to help us improve the software without having to necessarily rely on the feedback of transcoders connected to the pool. That feedback surely remains very helpful to improve the software so thank you to the early operators, keep it coming :pray: .

Reward cut

Currently there aren’t enough fees flowing through the network to make Livepool self-sustainable in terms of operational overhead, especially if it wants to increase its competitiveness on the network going forward.

Furthermore the LPT inflation rate is expected to reach 0% by december, which would significantly increase pool revenue and have a serious impact on the operational costs.

Therefore we will be updating our rewardCut to 20%. The revenue from inflation LPT will now be enough to cover the costs. However Livepool will not be unbonding unless absolutely necessary to cover costs, instead it will front the operational costs based on the current value of the LPT rewards. Livepool hereby takes on the risk of the future price of LPT.

Furthermore the increase in LPT rewards going to Livepool will increase the competitive advantage of the pool in the months to come. Delegates and stakeholders can see the full positive effect and increased profitability of this measure once meaningful fees start flowing through the Livepeer network.

Fee Cut

Recently we updated our feeCut to 95%. This means that 5% of fees earned in ETH will be split among delegates. The remaining 95% will go to Livepool to pay out the transcoders actually doing the work. Livepool takes a small commission in this of currently 5%.

In order to increase our competitive edge after increasing the rewardCut, the feeCut will be decreased to 90% to attract more stake from delegates once ETH fees start flowing to the pool.

Landing Page

The Livepool landing page is currently being reworked , a designer is working on some cool illustrations to convey the concept of Livepool. The landing page will also include a handy get-started guide.

Livepool Desktop App

One of the future milestones is a Livepool desktop app which can serve as a replacement for the command line interface. This app will be very easy to use and also contain automatic fiat on-off ramps (for regions hwere that’s possible) and should allow even non-tech savy users to earn money using Livepool and getting paid straight to their bank account or paypal.

The future is bright for Livepool !