How The Livepeer Token Helps Make Decentralized Streaming Possible
Livepeer is designed as the world’s first decentralized video architecture — and the Livepeer token (LPT) is the engine that drives it. LPT is an ERC-20 token whose role in the Livepeer network is to provide security, assign work, and incentivize active participation in the various roles required for the provision of the best possible service to our users.
Before we dig into the detail, a few quick words on what that service entails.
Empowering disruptive video visionariesThe $70 billion streaming industry — already strong before 2020 — has accelerated over the past year as the pandemic shut down in-person entertainment across the planet and forced audiences and artists to seek out virtual venues. Video now accounts for 80% of web traffic — with less and less of it using Big Tech’s expensive infrastructure. Upstart platforms created by innovative developers are attracting increasingly large followings.