Livepeer (LPT) - Modern streaming thanks to cryptocurrency

Livepeer network is an idea for the distribution of video files both in the form of streaming and classic video on demand. Thanks blockchain technology the project gains an advantage both in terms of lower costs, as well as technical solutions and the quality of the message. Anyone can take advantage of this open platform, so as it grows in popularity, its native token with the same name will also get more expensive - LPT. 

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for the web and the Livepeer token, focusing on one of the most popular entertainment nowadays - video streaming.

What is Livepeer (LPT)

Livepeer offers developers, broadcasters as well as creators and of course end users a cheaper and much more efficient alternative to streaming sites. It is an open platform that anyone can access. So everyone can implement the protocol into their networks or applications. 

It is worth remembering that as much as 80% of the entire internet bandwidth is taken up by transmitted video files. Livepeer provides decentralized transmission, and therefore cheaper. It is estimated that the cost of video transmission in a decentralized manner drops compared to the traditional one - and even 50 times. 

The origins of the Livepeer network date back to 2017. The development began in  July 2020, when the company received an injection of $ 20 million to expand its network. 

LPT token

Native Livepeer (LPT) token has been run on the base Ethereum networks. The Livepeer network is based on it. They also pay for transmission. Users with LPT tokens can earn not only on a possible increase in the rate, but also on LPT stackingthat bear interest, because part of the profit is distributed to cryptocurrency holders who decide to transfer it to a common pool to stabilize the network. 

It is based on a strict division of participants into roles: there are video makers, but also delegates and miners. 

How Livepeer works

Broadcasters can broadcast directly through the app, and as soon as they start doing so, the fee is automatically transferred to the Livepeer network. The network converts the broadcast into all possible formats for everyone to watch. 

So where does the cheap computing power come from, allowing for faster transmission? From users, because anyone can become a coordinator and contribute to a network that uses its processors and hardware bandwidth. In return, they receive LPT tokens. However, this is not an offer for everyone. To support the network with its processing capacity, you need to have a lot of technical knowledge to install the appropriate software. 

If it is too difficult, you can become a so-called a delegate. For this purpose, it is enough to have LPT tokens and give them to a specific person who is slightly higher in the hierarchy. Then you also get a certain percentage of your earnings. Especially that the token itself - although new units are being created to ensure the stability of the network - there is deflation token. 

Cryptocurrency Quotes

As of November 23, 2021, the LPT cryptocurrency is listed on the 14 Cryptocurrency exchanges from all over the world, including the popular stock exchange BINANCE. Currently, 21 164 655 of the target 22 859 012 tokens are in circulation. Each of them costs $ 48,03, which translates into a market cap of more than $ 1 billion. The peak of trading took place on November 09, 2021, when each LPT token was paid $ 99,95.