The popular BitTorrent site Mininova is currently Beta testing BitTorrent powered video streaming. The new streaming feature allows users to watch videos instantly, streamed from .torrent files.

The new feature will be integrated into the featured torrents section, which lists all the distributors taking part in Mininova’s content distribution platform.

The Open Source “swarmplayer” which is used for the video streaming service is developed in collaboration with the Tribler team from the Technical University Delft and Free University Amsterdam. Tribler is also working together with the BBC and several other European broadcasters, and they recently received a $22 million grant for P2P research from the European Union.

The swarmplayer has also been demonstrated for a 100+ audience of media industry insiders in Geneva at the European Broadcaster Union event on Open Internet TV this week. The streaming magic comes from replacing the tit-for-tat algorithm with Give-to-Get. Tribler project leader Johan Pouwelse stated after his keynote speech at the conference: “the attitude of several key media stakeholders in Europe are shifting and they are now exploring P2P on a serious scale.”

Mininova is still looking for people to test the streaming service, as Erik writes: “We are looking for people who would like to be in the first testing group who test the software, report suggestions and bugs you find. Please reply in this topic if you want to participate in this closed beta.”

Mininova already has a music streaming feature for their content distribution platform, based on the Java applet developed by Bitlet. The site currently has over 300 premium publishers, and Mininova’s CEO Niek told TorrentFreak last month that they will focus on extending and improving their content distribution service.

“Publishers will see more distribution options in the near future, and users will be able to find featured content easier. Our plan is to offer the most sophisticated and scalable distribution service of the future. Functionality of “regular” torrent files will of course be kept as it is now.”

Over the past months we have seen more and more P2P streaming alternatives. One of the main problems seems to be that it is practically impossible to make a high quality video streaming service profitable because of the immense bandwidth costs but P2P streaming solves this problem.