The Livepeer (LPT) project is a network built on Ethereum and focused on building infrastructure to enable developers to make video streaming applications. A network of node operators runs Livepeer, all token holders.
Each node runs the Livepeer Media Server, the project's own open-source media server. Unlike other video streaming services, Livepeer does not host or store videos but instead optimizes the use of excess computational resources to transcode video.
For developers, building a video streaming application can be expensive due to file size, hosting, and outsourcing transcoding to centralized transcoding and distribution companies. Livepeer aims to lay the groundwork for decentralized video streaming, resulting in a cheaper and scalable solution on which developers can build.
To run a Livepeer node, token holders must hold and stake their LPT tokens to delegate nodes and contribute computational power and bandwidth to video transcoding. Developers building apps using Livepeer pay fees to utilize the infrastructure. Node operators then receive these fees in ETH.
To function, Livepeer needs several key components to work together in harmony. Similar to validator nodes, orchestrator nodes interact with the protocol and seek video transcoding jobs to send to transcoder nodes.
Transcoder nodes encode videos so that they're available to orchestrator nodes. Broadcast nodes are run by developers using Livepeer to build video streaming applications by outsourcing video encoding to orchestrator nodes.
Livepeer's native cryptocurrency, LPT, has multiple use cases. First and foremost, it serves to incentivize users by allowing them to earn both LPT and ETH for operating Livepeer nodes.
LPT tokens are also available for staking to earn rewards. LPT holders who stake their tokens can concurrently run GPU-backed nodes to mine cryptocurrencies and transcode video for Livefeed. Lastly, LPT holders can participate in governance.
Livepeer, a decentralized video streaming network, has integrated with Aptos, a highly scalable blockchain solution, to enhance its performance and user experience. The integration aims to increase transaction throughput, reduce costs, and enable Livepeer to scale more effectively. With Aptos, Livepeer aims to better support the growing demand for decentralized video streaming infrastructure and offer improved capabilities for developers and users.
Livepeer was publicly introduced in 2017 and launched on Ethereum's Mainnet in May 2018. Its initial focus was on streaming crypto events like DevCon but later network updates enabled low-cost usage for large-scale applications. #LPT/USDT $LPT #TopCoinsJune2024