Why @Livepeer $LPT Building decentralized video applications like Twitch or TikTok requires a lot of infrastructure for live and on-demand video streaming. Depending on the user's bandwidth and device, the video content needs to be processed (i.e. transcoded) into a viewable format. While cloud providers like AWS, Google, or Microsoft are common solutions for video transcoding services, they incur high costs. The @Livepeer network provides an open and permissionless video infrastructure marketplace for live and on-demand streaming. Livepeer's transcoding marketplace allows anyone to contribute computing resources (e.g. GPUs) and compete on price. The network aims to reduce transcoding costs for end users by up to 10x. In Livepeer's decentralized transcoding network, there are three key players:

1️⃣Node operators (called "coordinators") are responsible for routing transcoding jobs. The amount of work a node operator can perform is proportional to the amount of Livepeer native tokens (LPT) they stake. Node operators earn ETH fees and newly minted $LPT rewards.

2️⃣ Service nodes (called "transcoders") provide computing resources to node operators and provide video transcoding. In return, they earn ETH fees. Typically, orchestrators and transcoders run in the same computer (combined setup).

3️⃣ Delegators stake LPT to valid node operators to help secure the Livepeer network. Staking rewards are a mix of ETH fees and LPT rewards. Beyond transcoding,#Livepeeraims to be the preferred decentralized technology stack for developers integrating video streaming. Additionally, the Livepeer community plans to bring AI video computing power to the Livepeer network in a cost-effective manner. *Speaking of finances...

✅Use of the Livepeer network grew 31% month-over-month and reached an all-time high in Q1 2024, driven by the launch of the live streaming platform on Livepeer Studio.

✅Livepeer’s demand-side revenue from transcoding fees increased 22% month-over-month in USD and decreased 15% month-over-month in ETH.

✅Staking rewards increased 123% QoQ in USD (+18% QoQ in LPT) as Q1 2024 LPT issuance reached its highest level since the Q1 2022 Arbitrum migration. ✅To increase demand, the Livepeer Cloud proposal aims to open new distribution channels for Livepeer to the external community. 🔥Livepeer co-founder Doug Petkanics announced a detailed plan to bring#AIvideo computing capabilities to the Livepeer network in a cost-effective manner. *Source/Copied from @MessariCrypto