What is LPT (Livepeer) Crypto? – LPT Crypto Price Prediction 2022

What is LPT (Livepeer) Crypto? – LPT Crypto Price Prediction 2022

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Information: https://www.kraken.com/en-us/learn/what-is-livepeer-lpt


“Livepeer is a network built on Ethereum for transcoding live and on-demand video.

Livepeer differentiates itself from traditional video streaming services like YouTube by not hosting, storing or distributing video. Rather, Livepeer is building a technology that utilizes excess computing power to more efficiently share video from broadcasters to consumers.

Video streaming is the main source of internet bandwidth use worldwide, with some reports suggesting that it accounts for up to 80 percent of global internet usage. The biggest cost for video broadcasters lies in transcoding, which is the process of converting and reformatting raw video to ensure it can be played across multiple devices and networks, from pocket size smart phones to larger than life billboards.

Livepeer aims to disrupt the video transcoding market by giving broadcasters access to thousands of distributed processors, allowing app developers to create videos within a secure, efficient and affordable architecture.

Central to its ecosystem is the Livepeer Token (LPT) which is used to secure the Livepeer network and coordinate the work responsibilities of those supporting the video encoding process.”

@Noah Reed

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