A decentralized video streaming network built on the blockchain
Livepeer is a Platform as a Service for developers who want to include live or on-demand video to their project. The current video infrastructure are very expensive due to the transcoding process of raw video files. Livepeer aims to reduce this cost by up to 50 times. In order to achieve this target, Livepeer is building a p2p video infrastructure on the Ethereum blockchain. Livepeer can be benefitted by developers who want to include live or on-demand video into their projects, users who want to view those videos and broadcasters who can utilise Livepeer to reduce video infrastructure cost.
There are two main players that will be running the Livepeer platform, the orchestrators and the delegators. Orchestrators provide all the computing resources in transcoding and distributing for developers and broadcasters. While delegators are those who do not have the necessary computing resources to run the platform, but want to delegate certain orchestrators by staking token to that orchestrator.
The Livepeer Token (LPT) is the main token that will be used across the Livepeer platform. Both orchestrators and delegators are rewarded LPT as an incentive for their work and stake into the platform. To be able to use Livepeer platform, broadcaster will need to pay in LPT, which adds another layer of economic incentive into the system.
Digital Currency Group, CoinFund, Animal Ventures, Northzone, 6th Man Ventures, Coinbase Ventures, Compound, Notation Capital, StakeZone Ventures.
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