The Livepeer (LPT) project intends to create a fully decentralized, highly scalable, and crypto-token incentivized live streaming platform. Its goal is to become a centralized broadcasting alternative. The goal is to provide a fully decentralized P2P solution, in which nodes donate their own processing and bandwidth in the service of streaming live video, making it more open and scalable because the number of connections that may be serviced is unlimited.
How does it work?
- Any recording equipment is used to capture the video.
- The video will then be converted into a common playable format by running it across the protocol’s network. The users in charge of the nodes will be rewarded with fees paid in ETH by the broadcaster, as well as the opportunity to improve their reputation through the protocol token and gain the privilege to conduct more work in the future.
- Any user can request to view the stream, and it will be delivered to them in near-real time.
The Livepeer Token (LPT) is the network’s protocol token. It is not, however, a medium of exchange token. Broadcasters will use Ethereum’s ETH to display their videos on the network. Fees from broadcasters are paid to nodes that help with processing and bandwidth. The LPT, on the other hand, is a staking token. Participants that want to work on the network must stake LPT in order to organize and manage how different movies are distributed over the network, as well as to ensure that the job is done honestly and correctly.
Price Movement – Livepeer (LPT)
At the time of writing, LPT is being traded at the price of $53.6 with an increase of almost 1.48% in the last 24 hours. LPT is a really strong token fundamentally. The maximum and minimum today are $59.91 and $52.75 respectively. The daily trading volume has also increased by almost 130.74%. LPT had created its ATH in November 2021 and reached a price of almost $101.80. The price later dropped down to a price of $52.04 and the monthly candle closed there. The price has been bullish on higher time frames and we saw an increase of about 83.95% in the month of November. This month the price has gained about 3.19%.
Price Prediction – Livepeer
LPT is a really strong token. We can expect growth in the price in the future. According to wallet investor, LPT is expected to reach a value of around $83.59 in a year and is expected to reach a value of $195.950 in five years. The traders are optimistic that it would be worth much more in the future.
