Launched in 2017, Livepeer stands as the pioneering decentralized live video streaming network protocol. By leveraging blockchain technology, Livepeer aspires to be the economically efficient alternative to traditional, centralized broadcasting solutions. Targeting both new and existing broadcasters, the platform streamlines content submission, reformatting, and distribution tasks, offering a seamless path to decentralization. With the broadcast industry expanding rapidly, Livepeer's innovative approach to video streaming is poised to disrupt the status quo, offering a secure and scalable solution that empowers producers and ensures efficient content delivery. Dive into the world of Livepeer and discover how it's reshaping the landscape of live video streaming.
What Is Livepeer (LPT)?
Livepeer is the first fully decentralized live video streaming network protocol. The platform aims to become a viable blockchain-based, economically efficient alternative to centralized broadcasting solutions for all new and existing broadcaster companies.
To learn more about this project, check out our deep dive of Livepeer.
As stated in the official Livepeer whitepaper, the live video streaming and broadcasting industry is growing at a rapid pace, and the company is looking to ride this wave and introduce decentralization to the environment. Livepeer aims to streamline the broadcasting process by allowing producers to submit their work on the platform, taking care of reformatting and distributing the content to users and streaming platforms.
Who Are the Founders of Livepeer?
Livepeer is an open-source protocol, which means that developers can freely contribute to the underlying code on GitHub. Livepeer Inc is the legal entity behind the Livepeer platform. Livepeer Inc was founded by Doug Petkanics and Eric Tang.
Doug Petkanics graduated with a degree in computer science from the University of Pennsylvania in 2006. Since then, he has been an integral part of several big names like Groupon and Wildcard. In 2006, he joined Accenture as an analyst, and in 2010 he co-founded Hyperpublic, which Groupon later acquired. In 2013, Petkanics co-founded Wildcard, a publishing platform, and web browser. Since 2016, he has been at the center of development for Livepeer.
Eric Tang graduated with a degree in electrical and computer engineering from Carnegie Mellon University. In 2008, he joined Next Jump as a software developer, and in 2010 he became a product manager for Clickable. In 2010, he teamed up with Doug Petkanics and co-founded Hyperpublic. Since then, the duo has worked together on Wildcard and later on Livepeer.
What Makes Livepeer Unique?
Livepeer is a unique project because it aims to revolutionize the broadcasting industry by employing the powers of blockchain technology. The open-source platform allows users and developers to participate in the management and improvement of the platform freely. The growing capabilities of digital cameras for producing high-quality video content drive the development of the broadcasting industry, and Livepeer aims to further boost this process by allowing users to benefit from decentralized computing power and crypto-economic incentives for bootstrapping and participation.
Livepeer is becoming a leading industry platform, as it allows users to participate in numerous ways. The platform offers opportunities for pay-as-you-go content consumption, auto-scaling social video services, uncensorable live journalism, and video-enabled DApps. Livepeer is transforming the live video streaming process and is on the road to becoming an industry leader.
How Many Livepeer (LPT) Coins Are There in Circulation?
Livepeer has a maximum supply of 22,906,951 LTP tokens and a total supply of 22,859,012 LTP tokens. The circulating supply is 21,164,655 LPT.
Of the total supply, founders and early team members split amongst themselves about 12.35%, which has a vesting period of 36 months from network launch. Another 19% of tokens were directed towards pre-sale purchases. The largest amount of tokens, 63.437%, was distributed towards crowd sales. Finally, 5% of the total token supply is reserved for maintaining the Livepeer network, ensuring the project’s future development.
How Is the Livepeer Network Secured?
As Livepeer is built on the Ethereum blockchain, the platform utilizes a modified version of a delegated proof-of-stake (DPoS) consensus mechanism. In a DPoS mechanism, there is no mining at all. Instead, the validation of new blocks on the blockchain happens based on the number of coins staked.
This is what differentiates Livepeer from consensus mechanisms as the one Bitcoin uses. While Bitcoin’s proof-of-work (PoW) mechanism requires a large amount of electrical and computing power, the DPoS systems are more ecologically conscious and easily scalable. Not only that, Livepeer benefits from the extensive DApp universe already established by the Ethereum blockchain, which further boosts the usability of the network.
Where Can You Buy Livepeer (LPT)?
Livepeer (LPT) tokens are becoming an increasingly sought-after asset, which is why more exchanges are starting to offer trading pairs with the cryptocurrency. If you are looking to purchase LPT, your best bet is Gate.io.
Other recommended exchanges include:
It is important to note that purchasing cryptocurrency bears risk, just like investing in any other asset.
Find more information here about buying cryptos.
Tokenomics and Distribution Model
The Livepeer (LPT) token operates on the Ethereum blockchain as an ERC-20 token. The total supply of LPT is 33.05 million tokens. However, the number of tokens in circulation and the maximum supply cap are not explicitly mentioned in the provided sources.
The Livepeer project aims to deliver a fully decentralized, highly scalable, crypto token incentivized live video streaming network protocol. The tokenomics and distribution model of LPT are not explicitly outlined in the provided sources, but there is a discussion on the Livepeer forum about brainstorming a new/updated tokenomics model for LPT. This discussion suggests more efficient usage of inflationary LPT and protocol-owned liquidity, with a portion of daily inflation going to those who perform work on the network. However, specific details about the updated tokenomics model are not provided.
Purpose and Utility
