Livepeer (LPT)

Livepeer is a platform for content creators. Specifically, we are talking about video creators. They can transcode their videos on Livepeer for streaming. This is important because streaming was actually always done on central platforms. Think YouTube and Netflix, for example. These central platforms have the advantage of being highly visited, but take power away from the video creators. Application builders can also use Livepeer. Within the network, they can build applications that focus on streaming. The network is set up specifically for this industry, allowing developers to get started already with a good framework. The advantage is that the transcoding of videos is decentralized. In fact, Livepeer is a decentralized blockchain made up of a large number of computers. Livepeer reduces the cost of streaming video content; up to 50 times! This also greatly benefits end users, as they have to pay less money to view video content. LPT is Livepeer's token and is used within the platform to transcode videos. Also, when you want to use the other services Livepeer offers, you have to pay for them with the LPT tokens.