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Challenges and Conclusion
Decentralization is a tool that the Livepeer project uses in order to deliver tremendous practical benefits to the video and web3 ecosystems. But decentralization isn’t easy and doesn’t come for free. Some of the challenges that have to be overcome along the way include:
- Tendency for stake to centralize and ossify in the delegation protocol.
- Growing a community of maintainers and active contributors to the Livepeer Media Server core video software.
- Balancing the protocol’s ability to quickly patch critical bugs with slower moving decentralized parameter and protocol updates.
The community is aware of the above challenges, discusses them frequently, and is working together positively towards proposals, experiments, and solutions to tackle them head-on. As has been observed across many blockchain ecosystems, it is easier to coordinate around solutions to the tough problems when the community is just beginning to grow, than it is later on after the project means many different things to many different stakeholders. The Livepeer project’s transparent, open, development focused, culture has allowed alignment on many of the tough issues so far, even as the project has decentralized significantly — but there are still a number of challenges ahead, and hopefully by being aware of them going in, we can overcome them together along the way.