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Over these recent years, research on P2P streaming media has become very popular. In order to enhance quality of play and to improve performance of transmission, a new P2P streaming media system mode, i.e. P2PSMCM, is proposed in this article. This model may enhance data memorizing and forwarding capability of the system based on network coding mechanism. It solves the problem of unbalance of multicast tree load in higher - efficiency node joining algorithm and failure management strategy. It introduces an incentive mechanism to incent more selfish nodes forwarding and resources sharing. This system model may improve both quality of data and overall performance.