Livepeer is the world’s fully decentralized video streaming service. Now you can watch your favorite content via the blockchain in one convenient place!
The innovation of Livepeer is seen through its decentralized computing power and crypto-economic features. Ever imagine being able to govern a site such as YouTube, having a say in how the platform is ran? Then coop that together with potential to earn additional rewards from taking part in this.
That’s exactly what Livepeer is about.
The broadcasting industry has become monopolized This leaves smaller entities at disadvantage. Livepeer has one job in mind, to create an equal playing field for those looking to showcase their content and push their messages.
Some main features of the platform include:
Built on the Ethereum blockchain, Livepeer is slick and robust. In true decentralized fashion, the protocol’s open-source for developers to utilize.
Older dApps on Ethereum can reach Livepeer, offering all the functionalities already created by this blockchain.
Companies are already using Livepeer for two main purposes:
The Livepeer protocol token is known as LPT.
LPT is used when staking, those who do so are able to have a say in its development, along with processing user activity to ensure its legitimate and fair.
ETH is used simultaneously with the LPT token for broadcasting the video content on the protocol. Fees are accumulated in Ether by those who broadcast via Livepeer.
Users are known as “delegators” and “orchestrators”. Both stake their LPT tokens together. The fees earned are paid in Ether or stablecoins, the more LPT staked, the higher the rewards earned!
These are the use cases for LPT:
LPT tokens are minted in “Rounds”. A single round is the equivalent of 5760 Ethereum blocks on the blockchain.
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