What is LivePeer?
Livepeer is a decentralized, open-source live video streaming network protocol that aims to simplify the broadcasting process. It is the video infrastructure developers use to power their live-streaming applications.
Background
Doug Petkanics and Eric Tang founded LivePeer in 2017.
How it Works
One of the critical features of Livepeer is its native utility token, LPT. LPT tokens are protocol incentives that allow users to earn rewards for running a node or delegating their tokens to Livepeer node operators. They can also be staked for dual mining and used in network governance decisions.
Producers submit their work to the Livepeer platform, which then reformats and distributes the content to users and streaming platforms. Users can stake LPT to run Livepeer nodes powered by GPUs that mine other GPU-based crypto tokens. LPT token holders can propose and vote on network governance decisions.
Key Takeaways
- Livepeer is a decentralized, open-source live video streaming network protocol.
- It was founded in 2017 by Doug Petkanics and Eric Tang.
- Livepeer’s native utility token, LPT, is a protocol incentive.
- LPT tokens can be used for running a node, dual mining, and participating in-network governance decisions.
- Producers can submit their work to the Livepeer platform, which then handles reformatting and distribution to users and streaming platforms.
