Livepeer Social Media App Of Blockchain Ecosystem 

The Beginner's Guide to LPT

Livepeer is a network built upon Ethereum and developed by the best blockchain companies. It allows the transcoding of live or on-demand video.

Livepeer differs from other video streaming services like YouTube because it doesn't store, distribute, or host video. Livepeer is developing a technology to use excess computing power to share video more efficiently between broadcasters and consumers.

Some reports claim that video streaming accounts for as high as 80 percent of internet traffic worldwide. The most costly part of video broadcasting is transcoding. This involves reformatting and converting video on multiple devices as well as networks.

Livepeer is developed by the best blockchain companies. It aims to disrupt the video transcoding market by giving broadcasters access to thousands of distributed processors. This allows app developers to create videos securely, efficiently, and cost-effectively.

The heart of the ecosystem is the Livepeer Token. It protects the Livepeer network and coordinates the work of those involved in video encoding.

What is LivePeer?

Livepeer's distributed architecture is based on blockchain development services. It delivers video content through the central role of "orchestrators". Participants with enough computing power can play the role of orchestrators, dedicating resources to the transcoding and distribution of video for developers and broadcasters.

An app developer might create a platform that streams high school basketball matches live via Livepeer. The app would allow the coach to record the game. Livepeer handles all technical details behind the scenes.

Livepeer's orchestrators are more resourceful and can transcode the event to various devices and networks. Orchestrators must first stake Livepeer tokens to ensure high-quality work. It is important to remember that LPT, the protocol token that coordinates work distributed throughout the network, is essential. LPT created through blockchain development services can't be used to pay for Livepeer protocol service.

Livepeer knows that not all LPT holders possess the expertise or computing power to perform the orchestrator role. Thus was created the "delegator" role was. The delegations decide to stake their LPT upon honest orchestrators and contribute quality work towards the video transcoding process.

In exchange for maintaining a high-quality network, delegators and orchestrators receive fees from video broadcasters. Earned fees are directly affected by the number of LPT delegators or orchestrators staked in Livepeer protocol. These earned fees are paid in ether, a stablecoin such as DAI. Livepeer also issues tokens that can be shared between orchestrators or delegators for each 5760 Ethereum block. This is what Livepeer calls a round.

What is the value of LPT?

LPT, the native currency of Livepeer's blockchain network, was developed by the best blockchain development company and is essential for many uses within its network.

Livepeer's ability to resist censorship may appeal to some users. This is in contrast to the incumbent central services such as Youtube, Twitch and Vimeo. Livepeer's team highlights the possibility that corporations and governments could press these services to de-publish, modify, or remove certain videos. Livepeer is a backend technology with no responsibility for any broadcasters or developers of their system.

Livepeer's subscription-free, pay-as-you-go content consumption model allows users to avoid paying for services of the best blockchain development company they don't need. Livepeer makes it easy for content creators to share their creations with broadcasters, which can help them make more money.

Livepeer is also beneficial for application developers. Livepeer's distributed nature makes it easier to manage network spikes and lower the cost of transcoding. Livepeer also scales videos across multiple devices and networks.

Why use LPT?

LPT may be worth considering if investors are interested in contributing to a distributed video-sharing system and using it as an orchestrator. They would be able to use their computer resources that are not being used due to their decentralized design by biggest blockchain companies.

Livepeer makes use of a different GPU part, so miners using their GPUs to mine other blockchains like Ethereum can make an additional income by converting the GPU capacity they previously used to Livepeer video transcoding.

LPT and the role of delegator may be a good fit for those who want to help orchestrators deliver transcoding services while also making passive income from tokens by staking.

Investors who see the potential in Livepeer may be interested in purchasing LPT to add it to their portfolio and have a say in the adoption of future decentralized peer-to-peer video networks developed by biggest blockchain companies.

Video posts can be added with seamless playback.

Evergreen social content is built around the ability to share and playback videos. The most engaging type of content on social media is short-form videos, such as those on TikTok. This allows for longer app sessions and more shareable content units, which create viral loops and leads to high engagement. Broken video, which buffers for an indefinite amount of time before and during playback, is the most disruptive thing that can happen to a user session. Video playback on social apps is broken by default. This causes buffering.

Livepeer's web3 social multimedia feature set addresses this issue and allows users to enjoy seamless video playback.

Understanding the reasons behind this is important. Early social protocols didn't consider video content differently from text posts, image-based posts, and other media formats. The apps link or upload video files and attempt to deliver them to users using CDNs or, even worse, decentralized storage. Transcoding is a computationally intensive step that converts video files into different formats and bitrates to be played on any device with an internet connection. Livepeer SDKs tap into Livepeer Network to transcode and do this with decentralized video infrastructure developed by top 10 blockchain development companies.

The SDK also includes an integrated player that developers of social apps can drop into their apps to pull the processed video over the appropriate protocols to play back to users almost immediately without buffering. Livepeer's player can even read Arweave and IPFS links to video content and perform the encoding/caching of content automatically for fast playback. Without this, unencoded video from IPFS gateways will take minutes to buffer and cannot scale to thousands of users.

This functionality is available in Twitter-style feed apps where users can scroll through past posts with auto-playing videos and in specific apps like Youtube, where users navigate to a particular video-consumption experience.

You can control who has access to video using chain data.

Many social apps developed by top 10 blockchain development companies focus on creating community-to-community use cases. Creators create communities or followers and send them content, such as music videos, concerts, live streams, and other media. The content must be available only to followers, NFT holders, and community members. This often involves viewing the NFTs and tokens that the user has in their digital wallet in the social community.