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PeerCast is streaming media software. The software is freely downloadable, the program's source code isn't available however, and the software is thus proprietary. PeerCast uses peer to peer technology to minimize the necessary upload bandwidth for the original broadcaster.
On the site the creators write that one of the "features" of PeerCast is "open source". However, January 2005 the sources aren't available for download - whereas the binaries of the software are.
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