The LPT (Livepeer) token originates from the Livepeer project, launched in 2017 by Doug Petkanics and Eric Tang. There was no initial token sale (ICO); instead, the initial distribution of LPT was made to the community, the founders, and the early team members, along with a development fund.
The Livepeer project is based on creating a decentralized network for video streaming and transcoding. Its main goal is to provide a more cost-effective, scalable, and censorship-resistant alternative to centralized streaming services like YouTube.
Essentially, Livepeer seeks to utilize excess computational capacity of the network to process and distribute video. Livepeer's "video miners" (called "orchestrators") use their processing power (GPU and CPU) and bandwidth to transcode and distribute video content, receiving LPT and/or ETH as a reward. On the other hand, application developers pay fees in ETH to use Livepeer's services.
The LPT token is an ERC-20 token that resides on the Ethereum blockchain and serves several crucial functions within the Livepeer ecosystem:
* Protocol incentivization: Users earn LPT for operating nodes or delegating to node operators.
* Staking: Users can stake LPT to secure the network and earn rewards.
* Governance: LPT holders can propose and vote on decisions regarding the governance of the network.
In summary, Livepeer is an open video infrastructure that seeks to revolutionize the streaming industry by providing a decentralized solution for video processing, powered by its LPT token.
#lpt
#LPT/USDT
#LPT.24小时交易策略
