Definitely! There is no shortage of ideas in the crypto industry. After currency, crowdfunding, loans, NFT, streaming is reflected on the Ethereum blockchain with a decentralized Livepeer network. However, LPT cryptocurrency has been created since 2017.
The explosive growth of the live broadcasting industry, coupled with the incredible development of the cryptoeconomy, has recently favored the appearance of the Livepeer project on the market.
LPT Crypto: Live Streaming Possible On Decentralized Network
Presentation of the Livepeer project based on LPT Crypto
According to a study by Grand View, the streaming industry could reach $ 184.3 billion by 2027. From April 2019 to April 2020, the industry grew by 99%. Livepeer entered this market ahead of its bull market in 2017. The decentralized streaming network built on the Ethereum blockchain was an initiative of two former IT developers: Doug Petcanix and Eric Tang.
Livepeer is the first live streaming initiative born of a decentralized framework. It is a platform that aims to remove barriers in the streaming industry and promote an economically viable ecosystem than centralized streaming providers.
The livepeer official doc says that:
The Livepeer protocol is designed for both job validation and false job prevention, and provides solutions for automatic network scalability and control support for protocol evolution over time.
Livepeer token or LPT is a protocol token, but broadcasters prefer to use ether to monetize their videos. In fact, LPT is a betting token used by members of the Livepeer token community to approve updates to the network.
Livepeer: the best streaming platform to protect your work
The Livepeer protocol uses a media unit called a segment, which is a piece of multiplexed audio and video over a period of time. Each segment on the platform is unique and contains cryptographic code which verifies and authenticates the content owner.
Livepeer has a two-tiered consensus system. At the first level, transactions and the LPT crypto registry are protected by the Ethereum blockchain. Transactions are validated by the network PoS governance model. The second level specifies how new LPT tokens should be distributed across the network based on a smart contract established between various community members.
LPT Crypto is in full swing! Annual growth over 2500%
After years of stagnation in the stock market, 2020 has seen a turning point for the LPT cryptocurrency. Indeed, LPT’s growth has been incredible. It fell from $ 1.64 on January 1 to $ 45.22 on May 11, up 2,657.31%.
The decline in the LPT stock market began in March, or rather in mid-March. From March 17th to 18th, the cryptocurrency gained $ 10.89, which is 149% more in the stock market. The bullish momentum continued throughout April but reached the $ 45.22 mark, a key period for cryptocurrencies.
As in the case of other cryptocurrencies, the market decline has greatly influenced the promotion of LPT in the stock market. The cryptocurrency has lost more than half of its value. However, when the industry woke up a bit in early June, the LPT cryptocurrency rallied in value and hopes to continue the pace of early May.