Livepeer is a decentralized protocol for live video streaming. As an open-source project that welcomes developer contributions, Livepeer positions itself as the first to offer a decentralized live streaming solution. LPT is the native token of the Livepeer protocol and is built on the Ethereum blockchain.
This article explains what Livepeer (LPT) is, how it works, and how to trade it on BtcTurk | Global.
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What is Livepeer (LPT)?
Livepeer was launched in March 2017 by Doug Petkanics and Eric Tang. It is an open-source protocol that allows developers to contribute freely to its core codebase on GitHub. Livepeer Inc., founded by Petkanics and Tang, is the legal entity behind the project.
Livepeer was developed as a decentralized live video streaming protocol. According to the project’s introductory and technical documentation, it aims to serve as a blockchain-based, more efficient alternative to existing centralized streaming platforms used by content creators, broadcasters, and media organizations. The project is driven by the recent growth of the creator economy and the need for a decentralized solution that can deliver video content seamlessly to end users.
LPT is the ERC-20-based native token of the Livepeer protocol. It secures user activity on the platform, incentivizes participation, and grants governance rights.
How Does Livepeer (LPT) Work?
The Livepeer protocol includes video processing tasks such as ingesting raw video files, scaling them to match viewers’ screen sizes, and optimizing playback based on users’ internet speeds. It offers a robust infrastructure that can be used by anyone requiring video integration in their applications or products. Since its launch in 2017, Livepeer has reportedly processed over 100 million minutes of video.
According to Livepeer’s technical documentation, the main infrastructure components include the Livepeer Protocol, the Go-Livepeer node, and the Livepeer Media Server (LPMS). The protocol uses an Ethereum-based smart contract to manage node registration and payment systems.
The Livepeer Media Server (LPMS) is an open-source media server responsible for video ingestion protocols, transcoding, streaming, and playback. Go-Livepeer is the component that enables communication between the protocol and the blockchain.
Livepeer is built on the Ethereum blockchain and employs a modified version of the Delegated Proof of Stake (DPoS) consensus mechanism. Unlike traditional mining, block validation in DPoS is based on the number of tokens staked.
LPT is an inflationary token, which means it does not have a maximum supply limit.
How to Store Livepeer (LPT)?
LPT, the native token of Livepeer, is built on the Ethereum blockchain. As an ERC-20 token, you can store and manage your LPT assets in desktop, mobile, or hardware wallets that support ERC-20 Ethereum tokens.
How to Buy and Sell Livepeer (LPT)?
You can buy and sell Livepeer (LPT) with Tether (USDT) using the BtcTurk | Global website or mobile app. If you’re not yet a member, you can easily register on our website or app and buy Livepeer (LPT) by depositing cryptocurrency.
