TAP<\/a>, a protocol designed to increase security and transparency in Ethereum transactions.<\/span><\/p>\nSeeing the rise of live video streaming as a chance to democratize content creation, Doug and Eric then conceived a way to use decentralization to help app developers build alternatives to the closed platforms that dominate the video streaming industry today. That vision became Livepeer.<\/span><\/p>\nHow Does Livepeer Work?<\/span><\/strong><\/h2>\nOne of the most critical and costly pieces of traditional video distribution infrastructure is adaptive bitrate transcoding \u2014 the reformatting of raw video to ensure an optimal viewing experience on any device at any network speed. Livepeer claims that its decentralized structure enables transcoding at prices up to 50x lower than those charged by mainstream providers.\u00a0<\/span><\/p>\nThe network is made up of tens of thousands of node operators \u2014 known on the Livepeer network as \u201corchestrators\u201d \u2014 who provide computing power in exchange for fees from broadcasters as well as rewards in the form of Livepeer\u2019s native token, LPT. Orchestrators compete for work and for the backing of Livepeer\u2019s \u201cdelegators,\u201d who commit their tokens to top performers for a share of their incentives.<\/span><\/p>\nBesides providing computer power to the network, Livepeer nodes are responsible for processing videos into various bitrates and formats and delivering these to broadcasters. Broadcaster and relay nodes, on the other hand, are responsible for distributing content to the end-users via web apps and decentralized applications.\u00a0<\/span><\/p>\nThe platform is secured by a\u00a0<\/span>DPoS\u00a0security system used to thwart a variety of potential attacks \u2014 such as\u00a0<\/span>consensus\u00a0attacks and chain reorgs \u2014 by requiring that all nodes involved in securing the network are incentivized to maintain honest behavior, and will be slashed for malicious activity.\u00a0<\/span><\/p>\nWhat Makes Livepeer Unique?<\/span><\/strong><\/h2>\nLivepeer was the world\u2019s first decentralized video streaming infrastructure. Unlike others in the space, Livepeer is not viewer-facing and has no plans to become so. The team\u2019s entire focus is on giving developers of streaming applications the reliable and robust infrastructure they need to ensure the best experience for their customers.\u00a0<\/span><\/p>\nLivepeer\u2019s protocol and\u00a0<\/span>tokenomics\u00a0are designed to encourage participation, either through node operation or by staking, which helps keep the infrastructure secure and reliable. The network already has more than 70,000 GPUs contributing to its operation: enough aggregated power to encode all the real-time video coursing through Twitch, Facebook, and YouTube combined.\u00a0<\/span><\/p>\nLivepeer has seen continued growth in a key usage measure: the volume of raw video transcoded in a week. In seven days ending June 12, 2021, Livepeer node operators processed a record of 2.3 million minutes of raw video, a six-fold increase from the start of 2021.\u00a0<\/span><\/p>\nAs part of its goal to become the go-to infrastructure for the industry, Livepeer is also developing a roster of other video processing tools valuable to broadcasters \u2014 everything from object recognition to song title detection — with the ultimate goal of providing the full range of tools for video streaming developers in a decentralized, democratized, and affordable way.<\/span>\u00a0<\/span><\/p>\n[\/et_pb_text][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” header_3_text_color=”#ff8f00″ header_3_font_size=”18px” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content”]\nLivepeer development updates in 2023<\/h2>\n
Livepeer has seen notable developments in 2023. This platform, which provides efficient transcoding services for live video streaming, aims to lower production costs for broadcasters by utilizing idle GPU and CPU resources globally.<\/p>\n
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Collaboration and Price Surge<\/strong>: In August 2023, Livepeer’s collaboration with Base for the Onchain Summer event as a live streaming service provider significantly impacted its native token, LPT. This partnership, coupled with updates to its roadmap, contributed to an 80% increase in LPT’s price, rising from $3.97 to $7.2\u200b