Take a look at tornado codes if you want a rated (instead of rateless) erasure code. It's related to fountain codes (and linked on the wikipedia article), and does basically the same thing as Reed-Solomon but with quasi linear encoding, IIRC n(log*n). I have to check if the patents expired, but my masters work was adapting BitTorrent to be backed by Tornado codes. Works surprisingly well since the original BitTorrent is structured around blocks anyways. I have the Ruby code around somewhere. When I modeled it, when the last seed left you'd need about half to one quarter the number of non-seed nodes in the network to be able to reconstruct the file.