Becoming informed about every technical aspect of live streaming is not necessary. But, knowing a few basics is. As you deal with live streaming more, you will pick up what you need in all areas, for now, know that:
The size and shape of the player directly affects whether or not your video window will fit into the space you intend.
The video settings such as Frame Rate, Format and Bit Rate will affect the quality and *viability of the stream (*whether it will operate correctly or not).
The audio settings can affect both the *viability of the stream and the quality of the sound.