YouTube live is slowly trying to become a player in the live streaming industry. Since its launch back in April, 2011 I have always felt there was something missing with the service. That something was interactivity. YouTube has recently tried to solve that issue by adding in live comments. Using a comment system rather then an IRC based chat allows them to have a few features that the other providers cannot currently offer. Comments can be Up and Down voted as well as replied to, users can also add video replies in the live comments. In its present form I feel that once chats become busy like all popular stream chats do that this format will fail at providing an enjoyable chat experience.
See it in action at http://www.youtube.com/live
Update March 26: YouTube has added Live Viewer metrics so you can so how many people are Watching Now. Pic after the break.