The document presents the 'Richter' architecture, a hybrid peer-to-peer (P2P) and Content Delivery Network (CDN) system designed for low latency live video streaming. It utilizes modern networking paradigms such as edge computing and network function virtualization to optimize video delivery by dynamically choosing the best source for content based on latency and available resources. Future work includes developing a model to guide system operations based on identified optimization challenges and validating the approach through experimentation.