Not sure if there is any hard limit (other than memory during operation), but certainly it is soft.
If you are considering a complete grid topology (an application in which every client is connected to every other client), you should consider the main drawback of this topology. For a large number of participants, the video conferencing bandwidth needed to maintain a common session is growing for each new participant.
Therefore, users with low bandwidth will not be able to process a video conference session with a large number of participants.
Hope this helps.
sam
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