Filecoin and Livepeer are launching a co-mining pilot project
The test will see Filecoin miners become Livepeer video miners
The similarities between the two projects in terms of the equipment used (GPUs) makes the idea feasible
Participating miners will receive LPT and FIL grants
The Filecoin (FIL) and Livepeer (LPT) projects have announced the launch of a co-mining pilot project. The co-mining test will allow Filecoin miners to become Livepeer video miners ‘while continuing to mine on the Filecoin network by storing transcoded video data’.
Both Livepeer and Filecoin Use Similar Infrastructure – GPUs
Miners of both networks are in a unique position to foster co-mining as Livepeer video miners serve as the backbone of a decentralized video network whereas Filecoin miners serve as the backbone of a decentralized storage network. The same miners can utilize their infrastructure to co-mine both networks thus availing additional technical and product opportunities for web3.0 applications.
Given these similarities between the ideal profile of a Livepeer video miner and that of a Filecoin miner, a Filecoin miner could be well positioned to also be a Livepeer video miner while continuing to mine on the Filecoin network by storing transcoded video data.
The miner would benefit from an additional revenue stream and the networks would benefit from a larger, more geographically distributed shared pool of hardware and bandwidth resources that more miners can contribute to.
Hardware Requirements for the Pilot
The announcement went on to provide the following technical requirements for mining hardware.
Must have Nvidia GPUs that:
Have the NVENC/NVDEC hardware video encoder and decoder