Livepeer provides an open-source decentralized video infrastructure for others to use.
They reduce the costs of video streaming by avoiding a central infrastructure and instead using a network of computers all around the world. That way, all the work required to transcode video is shared and distributed, which saves time and money!
Streaming video on the internet is a huge deal, right?
But it’s not as easy as it sounds. You gotta make sure it’s prepared, or transcoded, into all these different formats so it can be played on all these different devices. And that takes a ton of computing power, especially when you’re talking about live streaming.
That’s where Livepeer comes in. They’ve got a software protocol that cuts down the costs of streaming video by using the combined computing power of over 70,000 computers (Dec’22) all around the world. And get this – they can reduce infrastructure costs by up to 50x. That’s huge!
So if you’re a developer looking to add live streaming or on-demand video to your app, you can use the Livepeer protocol for all your video needs.
Previously co-founded Wildcard and Hyperpublic, and served as VP Engineering at both. Hyperpublic was acquired by Groupon in February 2012.
Past software development experience includes data focused architecture, agile development (Ruby/Rails, Python), mobile development (iPhone, Android), enterprise web applications, mission control software for the Department of Defense, modifications to the Bittorrent protocol, and contributions to the original XQuery implementation.
Q: How does Livepeer work?
A: Users can contribute their computing resources to the Livepeer network and in return, they earn tokens called Livepeer tokens (LPT). These tokens can be used to pay for video transcoding services or can be sold on exchanges for other cryptocurrencies or fiat currency.
Q: What is the Livepeer token (LPT)?
A: The Livepeer token (LPT) is the native cryptocurrency of the Livepeer network and is used as a medium of exchange on the network. It is used to pay for video transcoding services and can be bought and sold on exchanges.
Q: How is the supply of LPT tokens determined?
A: The supply of LPT tokens is limited and is determined by a fixed inflation rate. This means that the total supply of LPT tokens increases at a predetermined rate over time. The inflation rate is set to gradually decrease over time, which helps to maintain the value of the LPT token.
Q: Can I buy LPT tokens on exchanges?
A: Yes, LPT tokens can be bought and sold on exchanges such as Binance and Uniswap.
Q: What are the benefits of using Livepeer?
A: Livepeer offers several benefits, including low fees, fast transcoding speeds, and the ability to earn tokens by contributing to the network. It also offers a decentralized and transparent platform for video transcoding services.