Mininova is currently testing a video streaming service based on the Bit Torrent technology. Interestingly, the solution will allow videos to be instantly watchable from the .torrent files themselves.
According to TorrentFreak, Mininova will use the open source based Swarmplayer which has been produced in collaboration with the Technical University Delft and Free University Amsterdam, who are behind Tribler.
Tribler, you may recall, is going to power the P2P-next project which has got some serious backers across Europe (including the BBC) and received Euros 19 million worth of seed money from the European Commission.
Mininova launched a music streaming feature last month powered by a Java Applet from Bitlet; the site has already attracted more than 300 publishers.
Mininova's video streaming is set to compete with other Peer to Peer based services like Joost which also relies on Peer-casting to provide with adequate download speeds.
Although video streaming has become more and more popular in the last few years, it is still a very expensive service that can only be bankrolled by companies with very deep pockets (Google for example).
Using P2P dramatically reduces the amount of bandwidth used to convey data from the initial point of transmission and shifts the responsibility of broadcasting to the outer community to the P2P swarm.
A flash demonstration version of Tribler can be viewed here.