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Yes, your build is loading.
Encoding involves transforming what appears on the screen into a video file format or sending packets to the server. When streaming, your video gets encoded twice—once locally before transmission and again on the server. Encoding happens only on the local side, so recording and streaming doesn’t require additional power from the encoder. Unless you need different settings for each, such as higher quality video, it’s usually fine with your CPU for both streaming and gaming. It’s always a good idea to test before assuming it works perfectly.