Everything about LPT (Livepeer) cryptocurrency :
Livepeer
The Livepeer project aims to deliver a live video streaming network protocol that is fully decentralized, highly scalable, crypto token incentivized, and results in a solution which can serve as the live media layer in the decentralized development (web3) stack.
1. Project introduction
Livepeer is meant to provide an economically efficient alternative to centralized broadcasting solutions for any existing broadcaster. Livepeer Protocol - a delegated stake based protocol for incentivizing participants in a live video broadcast network in a game-theoretically secure way. Livepeer present solutions for the scalable verification of decentralized work, as well as the prevention of useless work in an attempt to game the token allocations in an inflationary system.
2. Team introduction
Founder: Doug Petkanics
3. Investment institution
Northzone, Digital Currency Group
4. Application
The Livepeer Token (LPT) is the protocol token of the Livepeer network. But it is not the medium of exchange token. Broadcasters use Ethereum's Ether (ETH) to broadcast video on the network. Nodes who contribute processing and bandwidth earn ETH in the form of fees from broadcasters. LPT is a staking token that participants who want to perform work on the network stake in order to coordinate how work gets distributed on the network, and to provide security that the work will get done honestly and correctly.
There is no upper limit on the issuance of tokens, and it is an inflation model. The daily inflation is about 0.0225%, and about 5225 tokens are newly produced every day. The inflation rate changes dynamically based on the staking rate. Its utilities are: staking rewards, agency, work equity.
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