Decentralizing video streaming, one block at a time
Livepeer (LPT) is reshaping how video is streamed and processed online by offering a decentralized alternative to traditional video infrastructure. Built to make video streaming more efficient and cost-effective, Livepeer allows developers and broadcasters to harness a network of independent nodes to transcode video at lower costs. Now, its native token LPT is available for buying and selling directly on Bitso.
What is Livepeer (LPT)?
Livepeer is a decentralized video streaming platform that leverages blockchain technology to reduce the costs of encoding and distributing video. Instead of relying on centralized services, Livepeer taps into a network of operators who use their computing power to process video streams. This creates a scalable, open, and community-driven network that powers streaming for apps, broadcasters, and developers.
The native token, LPT, secures the network and coordinates participation. Node operators stake LPT to perform transcoding work, and those who act dishonestly risk losing their stake. This design ensures the network remains trustworthy and efficient.
What makes LPT unique?
Unlike traditional streaming infrastructures, Livepeer decentralizes the process, removing single points of failure and significantly reducing costs. The project also introduces an innovative staking and reward system: operators earn fees for their work, while delegators can stake LPT to share in rewards without running nodes. This approach aligns incentives between users, developers, and token holders.
A closer look at the founders
Livepeer was founded in 2017 by Doug Petkanics and Eric Tang, both with strong backgrounds in technology and entrepreneurship. Petkanics previously co-founded Wildcard and Hyperpublic (acquired by Groupon), while Tang specialized in mobile development at Groupon. Their combined experience helped shape Livepeer into a robust, open-source protocol focused on disrupting the centralized streaming industry.
What is the LPT token for?
LPT serves several purposes within the Livepeer ecosystem:
- Staking: Operators stake LPT to secure the network and earn rewards.
- Coordination: It determines how work and fees are distributed among participants.
- Slashing: Misbehavior by operators can lead to the loss of staked tokens, ensuring honest behavior.
- Incentives: Delegators can stake their tokens to support operators and receive a portion of the rewards.
Real-world example
Imagine a small streaming platform that can’t afford expensive centralized encoding services. Instead, it integrates with Livepeer, where nodes worldwide handle transcoding at a fraction of the cost. The platform saves money while contributing to a decentralized ecosystem, and token holders who stake LPT help secure and benefit from this growth.
How to buy LPT on Bitso
- Log in or sign up for your Bitso account.
- Use the conversion feature to swap your local currency (MXN, ARS, BRL, COP, or USD) for LPT.
- Track its market performance directly from the app.
- Enter the amount, review the details, and confirm your transaction.
Note: LPT is only available through conversions on Bitso. It is not supported on Bitso Alpha, and deposits or withdrawals from external wallets are disabled. However, you can send and receive LPT between Bitso users via Bitso Transfer.
Disclaimer
Livepeer (LPT) is the native token of the Livepeer network, a decentralized protocol for video streaming and transcoding. While it offers a unique approach to reducing costs and decentralizing video infrastructure, the value of LPT is speculative and depends on network adoption, participation, and overall market conditions. Cryptocurrencies are highly volatile, and prices can fluctuate rapidly. This content is for informational purposes only and does not constitute financial advice. Bitso encourages all users to conduct their own research (DYOR) before buying, selling, or holding any digital asset.
