【Currency Introduction】LPT

Livepeer is a network built on Ethereum for transcoding live and on-demand videos. The protocol is designed to provide a cost-effective, secure and reliable infrastructure that can meet today's high demand for video streaming. The network’s native token is Livepeer Token (LPT).

In this article, we’ll take a look at Livepeer and its cryptocurrency $LPT, including its features, future prospects, and more.

Introduction to Livepeer

Created in 2017 by Doug Petkanics and Eric Tang, Livepeer (LPT) is a network built on Ethereum for instant transcoding and on-demand video.

What is LPT coin?

The native Livepeer token - LPT is a multi-utility ERC-20 token and all token transactions are open and transparent on Etherscan. The LPT token is key to the Livepeer network, creating a smooth operation that benefits all parties involved in the decentralized video distribution process.

LPT tokens are used to pay for Livepeer webcasts. In addition, LPT tokens are used to incentivize honest behavior by business process orchestrators and delegators. Network participants must already hold some LPT tokens. Additionally, Livepeer offers LPT token holders an opportunity to earn passive income by staking LPT tokens and securing the Livepeer network.

Additionally, the network requires native LPT tokens to handle the transcoding and distribution of videos on the Livepeer network. The more LPT tokens an orchestrator owns, the more active they are in the Livepeer network and can be rewarded with more network fees.

LPT Token Economic Model

The Livepeer team did not conduct a token sale to distribute its LPT tokens. Instead, an initial amount of LPT as well as long-term development funds are allocated to the community, founders, and early team members.

New LPT coins are minted in "rounds" and distributed to coordinators and delegators in proportion to the amount of their stake. One round is equal to 5,760 Ethereum blocks. Every time a user plays a video online, a new round of LPT is generated. LPT is inflationary, and the number of new Livepeer tokens minted in each round is determined by the inflation rate set by the Livepeer protocol.

Livepeer’s current inflation rate is 0.02375%. This means that every time a video is played on the network, 0.02375%% of the total LPT supply is minted and distributed to nodes. The inflation rate is adjusted based on the amount of LPT staked out of the total circulating supply.

As the network grows, the inflation rate will increase by 0.00005% each round until the total amount of LPT staked reaches 50%. Once it reaches 50%, inflation will be reduced by 0.00005%.

To receive LPT rewards from the network, you first need some LPT tokens to stake. All you need to do is buy Livepeer tokens and keep them in your crypto wallet. LPT is an ERC-20 token and therefore can be stored in any Ethereum-compatible wallet, such as MetaMask or MyEtherWallet.

How to buy LPT?
Want to invest in LPT? It only takes 2 minutes to create an account on 8V and start trading LPT.

https://8v.com/exchange/lpt_usdt

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8V Team

2023.09.11

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