Exchange Livepeer (LPT)

Livepeer (LPT) is a decentralized video streaming and broadcasting platform that leverages blockchain technology to create a more efficient and cost-effective infrastructure for video transcoding and live streaming. It was created to address the scalability and cost challenges faced by video content providers and broadcasters.

Livepeer was launched in 2018. It was founded by Doug Petkanics and Eric Tang Petkanics previously worked on blockchain projects and was a co-founder of the video-sharing platform Upstra. 

Eric Tang is an alumnus of Carnegie Mellon University, where he earned his degree in electrical and computer engineering. He started his career as a software developer at Next Jump. In 2010, Eric Tang joined forces with Doug Petkanics to co-found Hyperpublic. This partnership extended to collaborative ventures at Wildcard and, subsequently, at Livepeer.

The Livepeer team consists of several key members, including Philipp Angele, who serves as the director of video product, Jen Wohlner, the senior product manager, and lead software engineers Yondon Fu and Eli Mallon. Adam Soffer contributes as a product engineer, and Angie Ramirez leads the sales efforts.

The official Livepeer whitepaper was published in August 2017, and the platform's development and ecosystem have continued to evolve since its launch. The genesis day for the Livepeer token was marked on December 13, 2018. The initial coin offering (ICO) took place from July 21, 2018, through October 2, 2018. Of the initial total token supply, 63.43% was made available to the public, while 12.35% was set aside for the founders and early team members. An additional 19% was designated for pre-sale purchases, and 5% was preserved for network development and ongoing maintenance. The project gained momentum and support from various stakeholders in the blockchain and video streaming industry. 

Livepeer uses blockchain technology, primarily Ethereum, to create a decentralized network of nodes that collectively handle video transcoding tasks. This decentralization helps distribute the load and reduce the risk of a single point of failure.

Livepeer is known for its efficient video transcoding service, which is the process of converting video content into different formats and bitrates to ensure smooth playback across various devices and network conditions. This is crucial for live streaming and video-on-demand platforms.

Livepeer is an open-source project, meaning that the software code and underlying technology are made freely available to the public, and anyone can view, use, modify, and distribute the code. Being an open-source project promotes transparency in the network's operation and fosters community involvement, which is particularly important for a decentralized and community-driven project like Livepeer. It also allows for the continuous improvement and evolution of the platform based on the feedback and contributions of the broader community.

Livepeer aims to provide video transcoding services at a lower cost compared to traditional centralized solutions. This can make it more accessible to smaller content providers and developers.

Livepeer also offers APIs and tools for developers to integrate its services into their applications and platforms, making it easier for them to leverage the benefits of decentralized video processing.

Livepeer has been used in a variety of applications, including live streaming events, video-on-demand platforms, and more, where cost-effective and reliable video transcoding is crucial.

The network is designed to incentivize node operators to provide their computational resources for transcoding by rewarding them with LPT tokens. This encourages participants to support the network and maintain its functionality.

Livepeer is becoming a  leading video streaming platform within the industry, offering a range of participation opportunities. It enables users to engage in various ways, including pay-as-you-go content consumption, auto-scaling social video services, uncensorable live journalism, and the development of video-enabled DApps. Livepeer is reshaping the landscape of live video streaming, positioning itself on a trajectory to lead the industry.

LPT is the native cryptocurrency of the Livepeer network. It is used for staking, bonding, and participating in the governance of the platform. Users can also earn LPT by providing transcoding services or by staking their tokens.

LPT has a total supply of 29,597,024 tokens and as of November 6, 2023, all the tokens are in the current circulation. Out of the entire token supply, approximately 12.35% was allocated to founders and early team members, subject to a vesting period of 36 months from the network launch. An additional 19% of tokens were designated for pre-sale purchases, while the majority, 63.437%, was distributed during crowd sales. Lastly, 5% of the total token supply is set aside for the ongoing support and sustenance of the Livepeer network, safeguarding the project's future development.

The LPT can be bought on the majority of the popular exchanges, including Binance, Coinbase, Huobi, Uniswap, Gate.io, etc. 

The Average Fees On The Livepeer Network 

The fees on Livepeer are primarily associated with the use of its decentralized video transcoding services and network operations. 

One of the primary fees on Livepeer is the cost of video transcoding services. When content creators or developers use Livepeer's network to transcode their videos for streaming, they typically pay a fee to the network's nodes that perform the transcoding work. These fees are typically paid in Livepeer's native cryptocurrency, LPT.

Live streaming involves three distinct expenses:

• Transcoding: This covers the process of introducing video content to the Livepeer network, incurring a cost of $0.005 USD per minute.
• Delivery: To guarantee seamless, high-quality video playback across different devices and bandwidths for viewers, there's a delivery cost of $0.015 USD per gigabyte.
• Multistreaming: For sending the video to multiple destinations such as YouTube or Twitch, the fee amounts to $0.002 USD per minute per destination.

If you're interacting with the Livepeer smart contracts on the Ethereum blockchain, you may need to pay transaction fees in Ether (ETH) to cover the cost of executing these transactions. Ethereum transaction fees are known to fluctuate based on network congestion.

Engaging in governance may also involve some fees associated with voting or interacting with the governance smart contracts.

The LPT Token Wallets 

Livepeer (LPT) tokens are Ethereum-based ERC-20 tokens, which means they can be stored in any wallet that supports Ethereum and ERC-20 tokens, including MetaMask, MyEtherWallet, Trust Wallet, Ledger Nano S, Trezor, Atomic Wallet, Exodus, Cipher, Coinomi, Enjin Wallet, ImToken, Infinito Wallet, Guarda Wallet, etc.