Livepeer (LPT) is a decentralized video streaming platform built on the Ethereum blockchain. This platform enables users to stream high-quality video efficiently and cost-effectively.
In this article, AZcoin will explore more about Livepeer (LPT), including detailed information about the project, its development history, and an analysis of its potential future.
What is Livepeer (LPT)?
Livepeer is a decentralized network built on the Ethereum platform designed to provide online video streaming services. This platform allows users to stream live video freely and efficiently without the interference of any third party.
One notable feature of Livepeer is its flexible scalability, enabling it to handle millions of viewers simultaneously without encountering any obstacles.
Livepeer project development team and investors
Development team
Livepeer was created by Doug Petkanics and Eric Tang in 2017. Doug Petkanics is a software developer with extensive experience in blockchain technology and startups, and Eric Tang is a software engineer and entrepreneur
Project investor
Because Livepeer is a project full of potential and has received a lot of attention in the market, it has attracted investment from many large investors such as Notional Capital, Multicoin Capital and Pantera Capital.
How does Livepeer work?
Hệ thống Livepeer relies on Orchestrators to process video transcoding needs for application developers. These individuals connect their computers to the Livepeer network and exchange computing resources such as bandwidth, CPU, and GPU in exchange for LPT tokens. They are also known as “video miners”.
Developers need to pay fees for LPT tokens to use transcoding and distribution services. Holders of LPT tokens can stake or delegate, helping to secure the network and earn profits from tokens without directly providing computing resources.
The operational process in the Livepeer network is as follows:
- Record video using a camera, phone, screen, or webcam and upload it to the Livepeer network.
- Nodes in the network encode the video into appropriate formats for various devices. Orchestrators operate these nodes and receive fees from broadcasters in ETH or LPT, with opportunities to build a reputation for more job opportunities.
- Users can request to view video streams, which are automatically distributed in near-real-time.
Main components of Livepeer
The Livepeer network is operated by the following components:
- Orchestrators: These users connect their computers to the Livepeer network to provide computing resources such as bandwidth, CPU, and GPU in exchange for LPT tokens. They are responsible for orchestrating and managing the video transcoding process.
- Transcoders: Nodes in the Livepeer network that perform video transcoding into suitable formats for various devices. Transcoders receive rewards in ETH or LPT tokens from the transcoding services they provide.
- Broadcasters: Application developers or users who wish to livestream video. They upload their original video to the Livepeer network and pay service fees in ETH or LPT tokens to use the transcoding and video distribution services.
- Delegators: Holders of LPT tokens who do not directly provide computing resources. They can stake their LPT tokens with Orchestrators to help secure the network and earn rewards through staking.
Learn about LPT tokens
Key Metrics LPT token
- Token Name: LPT Token.
- Ticker: LPT.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x58b6a8a3302369daec383334672404ee733ab239
- Token Type: Utility, governance.
- Total Supply: 23,494,002 LPT.
- Circulating Supply: 23,494,002 LPT.
LPT token Allocation
- Airdrop: 63.4%.
- Pre-sale: 19%.
- Team: 12.3%.
- Development Fund: 5%.
- Early Advisors & Contributors: 0.3%.
LPT token Use Case
LPT is used as a means of payment and for livestreaming on the Livepeer network. Users can also stake LPT to enhance network security.
Where to buy and sell LPT tokens?
Currently, LPT token is listed on major cryptocurrency exchanges such as Binance, Kucoin, Uniswap and OKEx. You can buy and sell LPT on these exchanges using Bitcoin (BTC), Tether (USDT), or other supported cryptocurrencies.
In which wallet to store LPT tokens?
Currently, LPT token is supported on Ethereum wallets such as MyEtherWallet, Ledger Nano S, and Trezor. If you want to convert LPT to another currency like USDC, you can use large-volume trading platforms such as Binance or OKEx.
Is Livepeer a good investment?
Livepeer has the potential to become a good investment due to its innovative technology, strong support from major investors, and a robust community.
However, investors should carefully consider risks and privacy policy before making investment decisions. Diversifying investment portfolios and closely monitoring market developments are crucial factors in risk management when investing in Livepeer.
The end
Thank you for sharing the detailed information about Livepeer and the LPT token! It has indeed provided a comprehensive overview of the project. If you have any more questions or need further assistance in the future, feel free to reach out. Good luck with your investment decisions in the cryptocurrency market!
I am Louis Dang, living in Ottawa, Canada. I am currently working as a trader for AZCoin company, with 7 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
