I am creating webinar project in codeigniter.How can I create live video streaming to be used for live video conferences/chatting in a PHP application.?

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That is one big project. Probably beyond the scope of a forum thread. Perhaps you'd be better off using a third party iframe. For example, I used uStream about 5+ years ago. Haven't used it for a v. long time, but there must be a number of alternatives by now.

Creating your own would probably take a looong time.

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