What is Livepeer ($LPT)?
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. It comes as a peer-to-peer alternative to traditional video streaming, being one of the most promising web 3.0 tokens out there.
We can all agree that video is rapidly becoming the preferred method for both entertainment and educational purposes. It’s easy to see why: it’s much more engaging than written media, it doesn’t require so much effort from the viewers and it has a lot of cool tools, such as animations that are great for explaining something.
However, traditional video streaming methods are really expensive and become even worse when it comes to live streaming. That is because the content needs to be transcoded before it can be broadcasted. That means taking a raw video file and transforming it so that you get the best viewing experience.
This is where Livepeer comes into play as a solution for scalability and cost-effectiveness. It is a peer-to-peer ecosystem that interacts through a marketplace secured by the Ethereum network.
Livepeer has two main components that ensure its success: orchestrators and delegators.
Orchestrators
An orchestrator contributes to the network by allowing his computer’s resources to be used for transcoding and distributing video content. By…
