LivePeer uses the Truebit protocol for this. I'm not familiar with the nitty-gritty, but video transcoding seems to me to be something that can be verified muc

LivePeer uses the Truebit protocol for this. I'm not familiar with the nitty-gritty, but video transcoding seems to me to be something that can be verified much, much more cheaply than performed. FWIW, I think they're already launched, so do feel free to break it.