Project

LivePeer

💫 About

What is this network?

Livepeer is a decentralized video infrastructure network designed for live and on-demand streaming. It provides developers with the freedom to innovate, creators with autonomy from platforms, and viewers with a choice in their experience. The network is built on the Ethereum blockchain and uses a delegated proof of stake (DPoS) consensus mechanism. It aims to increase the reliability of video streaming while reducing costs associated with it by up to 50x.

How can I mine tokens?

In the Livepeer network, tokens can be mined by becoming an Orchestrator. Orchestrators run a Livepeer node and transcode video on their GPUs in exchange for broadcasting fees and network rewards. The more Livepeer tokens (LPT) you own, the more work you're able to perform on the network in exchange for fees.

Additionally, GPU miners can earn crypto using the idle processing capacity of their chips. Once Streamflow goes live on the Ethereum mainnet, the GPUs in that farm will be able to also earn both ETH in fees and Livepeer's LPT token in block rewards for using the currently untapped video transcoders.

Any geographical restrictions?

There are no geographical restrictions for participating in the Livepeer network. The network is designed to be fully decentralized and accessible from anywhere in the world.

How can I optimize my mining rewards?

To optimize mining rewards, Orchestrators can follow the guides provided by Livepeer. These guides include information on how to install the Livepeer Go client, connect to the network, configure reward calling, set session limits, decide pricing, benchmark transcoding, and monitor metrics. Orchestrators can also dual mine by running a Livepeer Orchestrator alongside other mining software.

How can I use the network?

Developers can use the Livepeer network to add live or on-demand video experiences to their applications. Users who want to stream video, gaming, coding, entertainment, educational courses, and other types of content can use applications built on Livepeer to do so. Broadcasters such as Twitch who have large audiences and high streaming bills or infrastructure costs can use Livepeer to reduce costs or infrastructure overhead.

Who governs this network?

The governance of the Livepeer network is decentralized and involves two key actors: Orchestrators and Delegators. Orchestrators run software that allows them to contribute their computer's resources (CPU, GPU, and bandwidth) in service of transcoding and distributing video for paying broadcasters and developers. Delegators, on the other hand, help secure and improve the network by delegating LPT with the most performant orchestrators and earn a cut of their broadcasting fees and network rewards in exchange.

Funding

Livepeer is funded by an $8 million seed equity round. It also innovated on an early token distribution using a technique called "Merkle mining," where network participants put forth some of the resources required to distribute a token. People who hold Livepeer's LPT tokens can delegate them to network participants to earn more crypto and provide security to the network.

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