Today, at 10 am EST, the Huffington Post is finally launching their long ago-announced streaming network, HuffPost Live.

First announced back in January (and later previewed in February), HuffPost Live is launching as a 24-hour online news channel – a move that puts it in direct competition with not only other online live news outlets, but cable news as well.

HuffPost Live is, first and foremost, a video network. At launch, it will have ten different hosts, who will work to put together 12 hours of original programming every day – eight on the east coast and four out of Los Angeles.

“We have reached a moment where – thanks to technology – millions of people have a seat at the table and can join what has become a global conversation,” says Arianna Huffington. “The news is no longer about a few people telling everyone else what happened – it’s about everyone telling everyone what’s happening right now. And now. And now… This shift from presentation to participation is what fuels HuffPost Live.”

HuffPost Live is not only focused on providing live news, but they are also pushing the interactive element of the new service. Not only does a comment thread display prominently on the HPL page, but you’ll notice a giant red button that says “Join This Segment” across the top. This will allow for people all over the world to join in the broadcasts live via webcam.

Of course, HuffPost Live’s headlining focus is on the “live” part. HPL head Roy Sekoff tells All Things D that the “live” programing can possible be ramped up to 16 hours a day next year. But of course, HuffPost Live is also banking on the popularity of the video content once it’s been recorded. Soon, HPL will contain a giant database of online video, which even if viewers catch non-live, still amounts to more original video content.