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About Livepeer
Key Points:
- Launched in 2017, Livepeer is a decentralized live video streaming network protocol.
- Aims to become a viable blockchain-based alternative to centralized broadcasting solutions.
- Founders: Doug Petkanics and Eric Tang.
- Unique features: employs blockchain technology, open-source, decentralized computing power, and crypto-economic incentives.
- Token details: maximum supply of 22,906,951 LTP tokens, total supply of 22,859,012 LTP tokens, and circulating supply of 21,164,655 LPT.
- Token distribution: 12.35% to founders and early team members, 19% to pre-sale purchases,
About Livepeer: Empowering the Future of Video Infrastructure
Introducing Livepeer (LPT): A Revolutionary Blockchain-Based Video Platform
Launched in 2017, Livepeer pioneered the world’s first decentralized live video streaming network protocol. This innovative platform strives to emerge as a viable, blockchain-based, and economically efficient alternative to traditional centralized broadcasting solutions, catering to both new and established broadcaster companies alike.
Delve into the intricacies of Livepeer by exploring our comprehensive project overview.
As articulated in the official Livepeer whitepaper, the live video streaming and broadcasting industry is experiencing exponential growth, and the company is poised to capitalize on this trend by introducing decentralization to the ecosystem. Livepeer seeks to optimize the broadcasting process by enabling producers to upload their content onto the platform, which then handles the reformatting and distribution of the content to users and streaming platforms.
The Visionaries Behind Livepeer: Meet the Founders
Livepeer is an open-source protocol, which empowers developers to freely contribute to its underlying code on GitHub, fostering a collaborative and transparent development process. Livepeer Inc, the legal entity behind the Livepeer platform, was founded by visionary entrepreneurs Doug Petkanics and Eric Tang.
Doug Petkanics, a University of Pennsylvania alumnus with a degree in computer science (2006), has made a significant impact at prominent organizations such as Groupon and Wildcard. Following his tenure as an analyst at Accenture (2006), he co-founded Hyperpublic in 2010, which was subsequently acquired by Groupon. In 2013, Petkanics went on to co-found Wildcard, a pioneering publishing platform and web browser. Since 2016, he has been instrumental in driving the development of Livepeer.
Eric Tang, a distinguished alumnus of Carnegie Mellon University, holds a degree in electrical and computer engineering. His professional journey began in 2008 at Next Jump, where he worked as a software developer. Two years later, he assumed the role of product manager at Clickable. In the same year, he collaborated with Doug Petkanics to co-found Hyperpublic, marking the inception of a fruitful partnership. The duo has since worked together on several ventures, including Wildcard and Livepeer.
Unveiling the Unparalleled Attributes of Livepeer
Livepeer is a pioneering project that seeks to transform the broadcasting industry by harnessing the potential of blockchain technology. This open-source platform empowers users and developers to freely contribute to its management and improvement. As digital cameras continue to advance, producing high-quality video content, Livepeer aims to further accelerate this growth by leveraging decentralized computing power and crypto-economic incentives to foster participation and bootstrapping.
Livepeer is rapidly emerging as a preeminent industry platform, empowering users to engage in a multitude of ways. By offering flexible, pay-as-you-go content consumption, dynamically scalable social video services, uncensorable live journalism, and video-enabled decentralized applications (DApps), Livepeer is revolutionizing the live video streaming landscape and poised to assume a leadership role in the industry.
What Is the Circulating Supply of Livepeer (LPT) Coins?
Livepeer boasts a capped supply of 22,906,951 LTP tokens, with a total supply of 22,859,012 LTP tokens currently in existence. Meanwhile, the circulating supply stands at 21,164,655 LPT.
Of the total supply, the founders and early team members collectively retain approximately 12.35%, subject to a 36-month vesting period commencing from the network’s launch. A further 19% of tokens were allocated to pre-sale purchases. The majority of tokens, a substantial 63.437%, was designated for crowd sales. Lastly, a reserved 5% of the total token supply is earmarked for the ongoing maintenance and future development of the Livepeer network.
The Livepeer Network’s Security Mechanisms: A Robust Framework
As Livepeer is built on the Ethereum blockchain, the platform leverages a
modified variant of the delegated proof-of-stake (DPoS) consensus algorithm. Notably,
in a DPoS mechanism, the traditional mining process is eschewed altogether. Instead,
the validation of new blocks on the blockchain is contingent upon the quantity of
coins staked, thereby ensuring a secure and efficient transaction verification
process.
This distinction sets Livepeer apart from consensus mechanisms, such as the one employed by Bitcoin. Unlike Bitcoin’s energy-intensive proof-of-work (PoW) mechanism, which necessitates substantial electrical and computing power, DPoS systems are more environmentally friendly and readily scalable. Moreover, Livepeer leverages the vast, established DApp ecosystem of the Ethereum blockchain, thereby significantly enhancing the network’s usability.
Acquiring Livepeer (LPT): A Comprehensive Guide to Exchanges and Marketplaces
Livepeer (LPT) tokens have emerged as a highly coveted asset, prompting an increasing number of exchanges to introduce trading pairs featuring the cryptocurrency. For those seeking to acquire LPT, Gate.io is the premier destination.
Additionally, other esteemed exchanges worthy of consideration include:
- Noted cryptocurrency exchange Poloniex
- Prominent digital asset trading platform OKEx
- Decentralized finance (DeFi) protocol Sushiswap
It is crucial to acknowledge that investing in cryptocurrency carries inherent risks, akin to those associated with investing in any other asset class.
Discover the ins and outs of purchasing cryptocurrencies and explore the vast opportunities available in the digital asset market.
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