Livepeer is an Ethereum protocol designed to transcode video quickly and efficiently, by distributing resource-intensive computing tasks to network participants.
In 2020, Americans spent approximately one hour and 43 minutes per day consuming digital video, according to research from Statista. As viewing habits shift from TV to live and on-demand video streaming, there is a growing demand for fast and cost-effective video transcoding services, which essentially convert raw video into different formats to ensure maximum compatibility across video streaming services and computing devices.
Livepeer aims to provide publishers, content creators, videographers, and more with a cost-effective way to transcode videos, so that the video content can be published on a wide-range of video streaming platforms and applications.
LPT is the native token for the Livepeer network. Participants use LPT to secure the network and reward video transcoders for their work.
What Is Livepeer (LPT)?
The Livepeer ecosystem allows video producers and broadcasters to access a decentralized network of computing resources, which consist of two major groups: orchestrators and delegators.
- Orchestrators are network participants that possess enough computing power to transcode video, a traditionally computing-intensive task that usually requires high-end consumer or enterprise-grade central and graphics processing units, commonly referred to as CPUs and GPUs. Orchestrators stake LPT tokens to 1) earn staking rewards in the form of additional tokens 2) help secure the network and ensure computing resources are going towards the transcoding and distribution of video.
- Delegators are LPT holders who stake their tokens to an orchestrator. Generally speaking, delegators select high performing orchestrators, as high performing nodes receive more LPT rewards.
How To Buy Livepeer (LPT) on Binance.US
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