UStream has now begun developing a mobile application to bring live mobile video streaming to mobile phones on its service. There really isn’t an established player in this space yet, but the market is quickly becoming saturated with competitors including Qik and Kyte. If YouTube decides to enter this space, probably within the next year or so, those smaller guys will all be toast, to say the least. The UStream application takes only about 6 seconds for a video to go live, while all others take at least about 30 seconds. It also has built in chat support and you can alternate between your two cameras on your phone. There is no word on availability but a beta should be coming soon.