Livepeer: Everything you need to know

It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!

Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.

To begin with, cryptocurrencies as the name suggest is nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.

Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.

That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course.

In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Livepeer. To know more, I suggest you read further!

Everything to know about Livepeer (LPT)

Livepeer or as commonly referred to as LPT is simply the very first live video streaming network protocol that is known to be fully decentralized. Not just that, the platform is said to be entirely focused on becoming a viable blockchain-based, economically efficient alternative to broadcasting solutions that are centralized for all new and existing broadcaster companies.  

In addition to this, as stated in the platform’s official whitepaper, the broadcasting and live video streaming industry are definitely growing at a rapid pace, and the company is looking to ride the wave as well as introduce decentralization to the environment. As mentioned, Livepeer aims on streamlining the broadcasting process by simply allowing the producers to submit their own work on the platform, thus taking care of distributing and reformatting the content to users and streaming platforms. 

Before moving any further, it is probably worth noting that, Livepeer is an open-source protocol, which means that the developers on the platform can easily and freely contribute to the underlying code on GitHub. Furthermore, Livepeer Inc is the known legal entity behind the Livepeer platform, which is said to be founded by Eric Tang along with Doug Petkanics. 

Also, LPT is said to be the native utility token of the Livepeer platform, which as a matter of fact can be used for a variety of purposes on the platform itself like for performing the work of distributing and transcoding video on the network while also being able to incentivize peers to ensure that the said network is secure and cost-effective. 

Apart from this, Livepeer is a rather unique project as it focuses on revolutionizing the broadcasting industry by employing the powers of blockchain technology. Moreover, Livepeer is becoming a leading industry platform as it is said to be allowing users on the platform to simply participate in several different ways. 

Having said that, Livepeer also offers various opportunities for pay-as-you-go content consumption, uncensorable live journalism, auto-scaling social video services as well as video-enabled decentralized applications (DApps). Other than this, the platform is known to differentiate itself from traditional video streaming services such as YouTube by not storing, hosting, or even distributing videos. 

Rather than doing this, the platform is dedicated to building a technology of sorts in order to utilize excess computing power to share videos much more efficiently from broadcasters to consumers. Talking about how Livepeer works, the platform’s distributed architecture for providing video content centers around its key role as orchestrator.

Not just that, Participants that have enough computing power can also manage to become orchestrators by dedicating the resources to transcode as well as distribute video on behalf of paying broadcasters and developers. Lastly, it is worth mentioning that, Livepeer is focused on transforming the live video streaming process and is on the road to becoming an industry leader. 

Now that we have talked much about Livepeer, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in Livepeer (LPT) 

As of today, the price of Livepeer is about 25.66 US dollars with a twenty-four-hour trading volume of 135,200,857 dollars. Not just that, in just the past twenty-four hours, the value of the Livepeer has gone down by 4.03 percent, and with the current market cap of 543,140,629 US dollars, LPT is currently placed at #119 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of the Livepeer is 21,164,655 LPT coins, with the maximum lifetime supply of the token being 22,906,951 LPT coins. In just the past week alone, the price of the platform has risen by 10.17 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Livepeer is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Livepeer can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

If still not convinced, see it this way that, if say you buy Livepeer worth a hundred dollars today, you will receive nearly 3.894 LPT3.894 LPT. According to the analysis done by experts in the field, after five years of your investment, the return is expected to be about +417.18 percent and thus, your current hundred-dollar investment will be nearly 517.18 US dollars in 2027.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, Livepeer does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy Livepeer? Let me help you with that. Currently, Livepeer is available on all major crypto exchanges but, some of the popular exchanges that have LPT listed on them include Binance, OKX, Bitget as well as Bybit to name a few.  

In conclusion, what are your thoughts on Livepeer? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

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