YieldWallet.io is proud to participate in the continuing upgrade of the Livepeer network by rolling out our own Orchestrator node, a few weeks after the Streamflow release on the Livepeer Mainnet. If you're not familiar with Livepeer, this is a good place to start. You can read more about our Livepeer transcoder launch here and more about what changes are being brought with the new Streamflow release here.
Key takeaways
a. Increased active set: Increasing the number of Orchestrators/Transcoders in the active list from 25 to 100. We were in 27-28th place prior to this release with quite a formidable hill to climb to get into the top 25 and start actively earning rewards (a chicken and egg problem: How can we get to the top 25 without people delegating to us, and why would people delegate to us when we were not in the top 25 and earning rewards which we would share with them).
We are now happy to say we're in the active set and earning rewards and strongly encourage any LPT holders to support us by delegating to us (more on that below)
b. Separation of Orchestrator from Transcoder: There has been a split of roles that different nodes play on the network. Now there are Orchestrators typically running on CPU-based instances that are responsible for parcelling out work units, and there are Transcoders that would run on GPU-heavy instances and responsible for the heavy lifting of transcoding videos.
While it's still currently possible for the same node to play the role of both Orchestrator and Transcoder, this is expected to become untenable as more Video transcoding work is sent to the Livepeer network for processing.
c. More video transcoding: With the streamflow release we're starting to see a lot more video transcoding requests get processed through the network, while previously there was little if any real work occurring.
The Livepeer team is doing a remarkable job of shepherding the network through various stages of maturity until it hopefully becomes a fully industrial strength network processing a massive scale of video on behalf of paying customers.
d. New opportunities: The streamflow release being with it the possibility of participation from a completely new class of operator: The GPU miner / mining farm. These are typically multi-gpu cryptocurrency mining rigs that are participating in proof-of-work mining and earning rewards for securing their respective networks.
Livepeer streamflow now allows these miners to play the role of Transcoder and create a new income stream in addition to Cryptocurrency mining. The fact that Mining and Video transcoding work are pretty taxing to different parts of the GPU means that both operations can be carried on simultaneously. More on that here.
Transcoding pool development
Yieldwallet.io aims to participate in the Livepeer network, not just by running an Orchestrator and our own GPU mining rig as Transcoder, but also by democratizing access to the Livepeer network as a revenue stream for the 100s of thousands of small GPU mining operations out there. Read more about our bid to build a transcoding pool here and our thinking behind the campaign here.
Who are we?
We are a geographically distributed team of highly passionate and qualified Entrepreneurs, Product managers, Marketers, Engineers, DevOps and Customer support personnel headquartered in India.
Our founding team has decades of experience building and running highly scalable and available distributed systems in the Payments, Financial products and Networking space for companies like Cisco, Paypal and Bloomberg. The team is also experienced with running reliable nodes for coins such as Horizen and DASH as well as staking to currencies like Livepeer, Decred, Tezos and Cosmos.
We understand the Engineering. We get the DevOps. We love Blockchain technology and are staunch supporters of the philosophy and the economics behind Bitcoin and other Cryptocurrencies.
We’ve been through the ups and downs of the markets, but never lost our conviction on the space. Now, we’re here to BUIDL and enable the next bull market to begin by laying the foundation and the technology that will drive this revolution forward.
Why delegate to us
Some of the reasons to delegate to us:
a. Transcoding pool: We plan to put in a major effort to take the Livepeer network to it's next logical stage, by building or contributing to a Transcoding pool and democratizing access to 100s of thousands of GPU miners, not to mention bring massive Video transcoding capacity online for the Livepeer network.
b. Geo diversity: We are helping decentralize the network and strengthen it by the geographical distribution of servers, being based out of India.
c. Onboarding new class of users: We are bringing a new class of investors into the network, especially otherwise passive LPT holders, GPU miners worldwide and our user base from the Indian subcontinent.
d. Reliability: As mentioned above, we are a highly qualified distributed team of professionals that will ensure the highest standards and availability of the product 24/7
You can also read a lot more about our bid to become an active transcoder,our fee structure and why you should support us on our Livepeer campaign page
How to delegate to us
To delegate your LPT you simply open a page of the Transcoder you wish to bond to, and click the“Bond” button. The address of the YieldWallet transcoder is:
https://explorer.livepeer.org/accounts/0xCdFC898128DBC380A60895c6E8C0975Dc07D07E0/transcoding
We have put together detailed step-by-step instructions on not only how to delegate your Livepeer tokens, but also how you can acquire them if you are buying them for the first time.
Connect with us
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Please leave your comments and questions about Indra Crypto Capital, YieldWallet, Livepeer or anything else you’d like to talk about and we will be sure to get back to you.