Saturday, February 4, 2023
HomeCrypto BasicsWhat is Livepeer (LPT)? - How to Use and Buy It

What is Livepeer (LPT)? – How to Use and Buy It

What is Livepeer (LPT)?

- Advertisement -

In 2017, Livepeer, the first fully decentralized live video streaming network protocol, was developed.

The platform aims to replace centralized broadcasting methods for all new and existing broadcaster companies with a viable, cost-effective blockchain-based alternative.

The decentralized network of the Livepeer protocol, based on Ethereum, is used to distribute video transcoding jobs. 

The protocol aspires to provide a safe, dependable, and cost-effective infrastructure to serve the increasing demand for video streaming in today’s world.

Who Are the Founders of Livepeer?

Since the Livepeer protocol is open-source, developers are welcome to contribute freely to the underlying code on GitHub. 

Livepeer Inc, a corporation, operates the Livepeer platform. Eric Tang and Doug Petkanics founded Livepeer Inc.

What Makes Livepeer Unique?

Livepeer is unique since it uses blockchain technology to transform the broadcasting sector. 

Thanks to the open-source platform, users and developers can freely participate in the platform’s management and improvement. 

The broadcasting industry is evolving due to the increasing capacity of digital cameras to produce high-quality video content. 

Livepeer aims to accelerate this process by enabling users to utilize decentralized computing power and crypto-economic incentives for bootstrapping and participation.

Because Livepeer allows users to connect in several ways, it is swiftly moving to the industry’s top.

The platform enables video-enabled DApps, uncensored live journalism, self-scaling social video services, and pay-as-you-go content consumption.

Livepeer is redefining the live video streaming process on its route to becoming a market leader.

How Many LPT is in Circulation?

27,049,017 LPT coins are now in circulation, and the maximum supply is unknown.

How is the Livepeer Network Secured?

Livepeer uses a modified version of a delegated proof-of-stake (DPoS) consensus process because it is based on the Ethereum blockchain. 

A DPoS technique forgoes mining entirely. Instead, the amount of bitcoin staked determines how the blockchain validates new blocks.

This sets Livepeer apart from other consensus processes, such as the one employed by Bitcoin. 

The proof-of-stake (DPoS) systems are more environmentally friendly and easily scaleable than Bitcoin’s proof-of-work (PoW) process, which uses a lot of electricity and computational resources. 

Additionally, Livepeer gains from the vast DApp universe that the Ethereum blockchain has already developed, which improves the network’s usage even further.

How can Crypto Investors Use Livepeer (LPT)?

It gives Livepeer token holders a chance to secure the network and generate passive income by staking LPT tokens. 

Additionally, you may utilize the tokens to distribute videos across the entire Livepeer network and conduct transcoding operations.

The Livepeer token (LPT), the network’s native asset, is an ERC-20 token used to offer security, distribute video processing jobs among network users, and encourage their active involvement in the network’s many responsibilities.

Where to Buy LPT?

Because Livepeer (LPT) tokens are a more in-demand asset, more exchanges are beginning to provide trading pairs with the cryptocurrency. The following are some suggested exchanges:

 

FAQ

 

  1. Is it wise to invest in LPT?

According to the statistics and Livepeer price projection, the minimum price in 2026 might be about $18.50, and the maximum price could be around $22.00 while retaining the average price of $20.25. 

We anticipate that LPT investment will be profitable in the long run.

 

  1. What is the value of one LPT?

Livepeer’s current price is $5.00, with a 24-hour trading volume of $5,552,985.

  1. How high can Livepeer go?

By 2025, the token can exit its bearish market and trade at its highest price of $19.866.

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_imgspot_img

Most Popular