really? I think not. Lets use speech synthesis as an example: I would call speech synthesis real time if it takes less than one second to produce one second of synthesized speech. I think you're probably thinking of the word "live". There's always going to be a small delay when re-encoding. Real time doesn't mean 0ms delay, that's impossible. Twitch has a small delay, but it's still re-encoded in real time (encoding 1 second takes ≤ 1 second for twitch).