Introduced in 2017, Livepeer is recognized as the pioneer in fully decentralized live video streaming network protocols. This platform aspires to provide a blockchain-powered, cost-effective alternative to traditional centralized broadcasting systems for both emerging and existing broadcasters.
For an in-depth understanding of this initiative, you can explore our comprehensive analysis of Livepeer.
According to the Livepeer whitepaper, the live video streaming and broadcasting sector is expanding rapidly. The company intends to capitalize on this trend by integrating decentralization within the industry. Livepeer's goal is to simplify the broadcasting process by enabling content creators to upload their work on the platform, which then handles the reformatting and distribution to audiences and streaming services.
Who Are the Founders of Livepeer?
Livepeer operates as an open-source protocol, allowing developers from around the world to contribute to its code on GitHub. The company behind this platform is Livepeer Inc., founded by Doug Petkanics and Eric Tang.
Doug Petkanics, who graduated in computer science from the University of Pennsylvania in 2006, has been involved with major firms such as Groupon and Wildcard. He began his career at Accenture as an analyst in 2006 and went on to co-found Hyperpublic in 2010, which was later acquired by Groupon. In 2013, he co-founded Wildcard, a publishing platform and web browser. He has been instrumental in Livepeer's development since 2016.
Eric Tang earned his degree in electrical and computer engineering from Carnegie Mellon University. He started at Next Jump as a software developer in 2008 and became a product manager at Clickable in 2010. That same year, he partnered with Doug Petkanics to co-found Hyperpublic. Since then, they have collaborated on Wildcard and eventually on Livepeer.
What Makes Livepeer Unique?
Livepeer stands out because it seeks to transform the broadcasting industry through blockchain technology. This open-source platform empowers users and developers to actively manage and enhance the system. With the increasing capability of digital cameras to produce high-definition video content, Livepeer aims to accelerate the industry's growth by leveraging decentralized computing power and crypto-economic incentives for participation and engagement.
Livepeer is emerging as a prominent platform in the sector, offering users numerous ways to engage. It provides options for pay-as-you-go content consumption, automatic scaling of social video services, censorship-resistant live journalism, and video-enabled decentralized applications (DApps). Livepeer is pioneering changes in live video streaming and is well on its way to becoming a leader in the field.
How Many Livepeer (LPT) Coins Are There in Circulation?
The total cap for Livepeer tokens is set at 22,906,951 LPT, with a total supply of 22,859,012 LPT in existence. Currently, 21,164,655 LPT are in circulation.
Of this total supply, 12.35% was allocated to the founders and early team members with a 36-month vesting schedule from the network's inception. Additionally, 19% of tokens were sold in pre-sale events. The majority, 63.437%, was distributed through crowd sales. Lastly, 5% is reserved for the ongoing maintenance and future development of the Livepeer network.
How Is the Livepeer Network Secured?
Built on the Ethereum blockchain, Livepeer employs a modified delegated proof-of-stake (DPoS) consensus mechanism. Unlike traditional mining, new blocks are validated based on the amount of staked coins.
This approach sets Livepeer apart from Bitcoin's consensus mechanism, which relies on proof-of-work (PoW) and demands significant electrical and computational resources. In contrast, DPoS systems are more environmentally friendly and scalable. Furthermore, Livepeer benefits from integration within Ethereum's extensive decentralized application (DApp) ecosystem, enhancing its network's usability.
Where Can You Buy Livepeer (LPT)?
As interest in Livepeer (LPT) tokens grows, more exchanges are beginning to offer trading pairs with this cryptocurrency. If you're looking to buy LPT, Gate.io is a top choice.
Other suggested exchanges for acquiring LPT include:
* Poloniex
* OKEx
* Sushiswap
Remember that buying cryptocurrency carries risks similar to investing in other types of assets.
For more details on purchasing cryptocurrencies, check out our guide.
