What is Livepeer (LPT)?
In recent years, streaming applications have become increasingly popular. For example, we watch video content on YouTube, Netflix, and Videoland, and video creators can upload their content at any time. The aforementioned applications run on a central server. Livepeer aims to become the foundation for decentralized streaming.
Livepeer is an environment where developers can build decentralized streaming applications. It runs on Ethereum's network, which means Livepeer itself is not a blockchain it. Instead, Livepeer runs as an application on Ethereum's network.
The advantage of Livepeer is that developers can more easily build applications that focus on streaming. In principle, the basis for these applications is pretty much the same. So any dApp developer could reuse this base just fine. This is pretty much what Livepeer offers.
Another advantage is that developers can take advantage of a high degree of scalability. It should also reduce the cost of streaming video content: up to 50 times. This benefits both end users and content creators. The cheaper developers can make their product, the lower the cost for end users.
What can you use Livepeer (LPT) for?
You can use Livepeer when you create video content. Streaming video content is made a lot easier and cheaper by Livepeer. As a content creator, you can use a base set up by Livepeer. So you don't even have to develop anything for this anymore.
The project is unique because it aims to improve the streaming industry by using the blockchain. We see many similar projects working in a centralized way. This ensures that central entities have a lot of power. As a video creator, you may prefer not to because you want to retain ownership over your own content.
With Livepeer, videographers again have more say over the products they create. They can take advantage of everything blockchain technology has to offer them when developing their product, such as the use of cryptocurrency. If you want to use the services Livepeer offers, you will have to pay for them with LPT tokens.
Because of its decentralized nature, Livepeer contributes to the development of uncensored journalism. Central platforms tend to have rules about the content one is allowed to process and distribute. This does not bother video creators on Livepeer's platform.
The LPT token
LPT is Livepeer's token and is used to run the ecosystem. Without the LPT token, users and developers would not be able to use Livepeer. LPT is used for the following:
Content creators use the LPT token to transcode and distribute videos;
Owners can use LPT tokens for staking. Thus, they contribute to the security of the ecosystem and ensure that content creators can transcode and distribute their videos;
LPT tokens are used by crypto traders to make money. The value of LPT fluctuates, making it possible to make money trading LPT.
No information can be found about the maximum stock of LPT tokens. This means that the team behind Livepeer can determine this number themselves. In October 2022, there was a total stock of 25,866,594 LPT tokens. Of this total stock, 24,842,543 tokens are in circulation. The tokens are distributed in the following manner:
12.35% for team members and early team members;
19% were put on sale during the pre-sale;
5% for the maintenance of the Livepeer network;
63.437% were distributed in public sales.
The team behind Livepeer
Livepeer is a crypto project developed by a large team. In fact, the team behind consists of about 50 employees. These are the main team members of Livepeer:
Doug Petkanics (CEO and co-founder);
Eric Tang (CTO and co-founder);
Yondon Fu (Director of Engineering and co-founder);
Mark Blair (Head of Revenue);
Paige Glowacky (Product Manager);
Lloyd Park (Content Marketing Manager);
Daniela Passos (Social Media Manager).
Where to buy Livepeer (LPT)?
You buy LPT tokens from Livepeer at Coinmerce. Here you can buy LPT with iDEAL, SEPA, Giropay, MyBank, and credit card (Mastercard and Visa). This is why crypto traders in the Netherlands and Belgium choose to buy their LPT crypto from Coinmerce.
For using the payment methods, you do not pay a deposit fee. However, we do charge low transaction fees. The amount of these fees varies per cryptocurrency and per moment. When buying LPT, we indicate the costs you pay for carrying out the transaction.
You need an account to buy LPT. Do you have a Coinmerce account? Then buy Livepeer here. On this page, in the buying window on the right, specify how many LPT tokens you want to buy. It is also possible to enter a euro amount. You can buy the LPT tokens directly or purchase with a stop limit or repeating order.
In which crypto wallet can you store LPT tokens?
LPT is an ERC20 token and, therefore can be stored in almost any crypto wallet. For example, Metamask and Trust Wallet are popular crypto wallets for storing Livepeer. In doubt? Then always check the crypto wallet's website to see if it supports LPT.
After you buy LPT from Coinmerce, you can move the LPT tokens to your own hardware wallet. We also call a hardware wallet a cold wallet. This form of storage is considered very secure. This is because the public and private keys of your wallet are stored on the hardware wallet. You can disconnect the hardware from a device. It is then impossible for others to access the keys to your wallet. The hardware wallets of both Ledger and Trezor support LPT tokens.