LPT is the native currency of the Livepeer network.
What is Livepeer?
Livepeer is a decentralized protocol for video processing and streaming, built on the Ethereum blockchain. It can be regarded as a decentralized alternative to traditional video processing services like YouTube, where the work is distributed across a network of nodes instead of a single central server.
How does Livepeer work?
* Orchestrators: They provide computing power (such as GPUs) to transcode and process video. They earn rewards and fees for their work.
* Delegators: These are LPT holders who choose to delegate their tokens to orchestrators, helping to secure the network. In return, delegators receive a portion of the profits and fees earned by the orchestrators to whom they delegated their tokens.
* Users: Developers and companies can use the Livepeer network to process and stream videos at a lower cost than centralized solutions.
What is LPT currency?
LPT is the token for the Livepeer network. Its core functions are:
* Network Participation: Orchestrators and delegators need to own and stake LPT to participate in the network.
* Governance: Holding LPT grants holders the ability to participate in the governance of the network and make decisions about its future and development.
* Fee Payment: Users can pay for streaming and video processing on the network using LPT currency.
Key Features:
* Decentralization: The network operates in a decentralized manner, meaning there is no single point of failure.
* Cost Efficiency: Livepeer aims to provide video processing solutions at a significantly lower cost compared to traditional solutions.
* Artificial Intelligence: The network currently integrates AI capabilities in video processing, enabling the creation of advanced real-time video applications.
* Supply: There is no maximum limit on the number of LPT tokens, but there is an inflation mechanism designed to program the issuance over time.