Livepeer was established in 2017 by Doug Petkanics.
Livepeer runs a unique approach that helps content creators transcode services through decentralized network applications.
The Livepeer platform has over 100 Github Contributors, over 1000 Stargazers, and supports 12 Languages.
Total livepeer staked so far has crossed 13.2 mln.
The Livepeer project is created to support the transcoding process for video and audio creators. Its system network function was built on the Ethereum blockchain, supporting the streaming and broadcasting of video services in a Web 3.0 platform video layer.
Livepeer aims to provide a less hassle, resilient to censorship solution, more scalable, convenient, and cheaper infrastructure of decentralized video broadcasting.
Because of its service to users’ structure, the company delivers high value production while maintaining a less costly process, allowing users to save money when using Livepeer.
Nevertheless, this project has a unique and brilliantly designed cryptocurrency network to deliver a scaled value to its users.
Livepeer is a decentralized blockchain network that is specially designed for video transcoding. This is built on Ethereum’s blockchain network and is designed to create a cost-efficient streaming and broadcasting service using Web 3.0 stack.
Video miners can mine using GPUs and by staking, coins network security will improve.
The LPT holders are encouraged to stake their tokens to their desired transcoder or orchestrator. Doing so will make the network more stable and performant.
Being the first to use this centralization method opened an opportunity for the creators and the viewers.
Media Server. Enhancing the Livepeer media server will enable the platform to support a large video and audio transcoding scale. It not only serves as the open-source system of Livepeer but is also the central core of the network.
Network. The Livepeer Network runs the protocol and media server. By enhancing the network, it allows the system to transcode videos and audio records in a faster and more convenient way.
Protocol. These are the specifications that determine the role of the network. By developing the protocol, it will enable the system to be more adaptive.
Token. The development of the LPT token will enhance the market of users and developers.