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What is Livepeer (LPT)?

Livepeer is a decentralized video network built on the Ethereum blockchain, aimed at providing a low-cost and efficient infrastructure for live video streaming and video processing using artificial intelligence. It allows developers to create advanced video applications and provides an open alternative to centralized platforms like YouTube and Twitch. 

Uses of LPT Token

• Processing and Encoding: LPT is used to incentivize network operators (Orchestrators) who provide computing power to encode videos and convert them into multiple formats.

• Delegation: LPT holders can delegate their tokens to trusted operators and participate in network profits without needing to run infrastructure.

• Governance: LPT gives its holders the right to vote on network development decisions and updates.

Key Features of Livepeer

• Integration with Artificial Intelligence: The “Daydream” platform enables the creation of interactive videos in real-time using text inputs. 

• Decentralized Infrastructure: Relies on a network of nodes to distribute tasks, reducing costs and increasing security.

• Opportunities for Developers: Provides tools and APIs to facilitate the development of video applications.