What Is Livepeer?

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Sep 22, 2022
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4 min read
what-is-livepeer

This blog post will cover:

  • About Livepeer (LPT)
  • Where did Livepeer (LPT) come from?
  • What are the advantages of Livepeer (LPT)?
  • What are the disadvantages of Livepeer (LPT)?
  • How to buy Livepeer (LPT)?

About Livepeer (LPT)

Livepeer is a decentralized video platform for streaming and is developed on the Ethereum blockchain. The project’s willing to create an online video streaming protocol which is completely decentralized, available for scaling and crypto incentivized. Livepeer is made for delivering the economically efficient alternative to its centralized competitors as well. 

LPT is a protocol token. It serves for several purposes including security, coordination and incentivizing users. 

Where did Livepeer (LPT) come from?

Livepeer was started in 2017, its founders are Doug Petkanics, Yondon Fu and Eric Tang. In addition, Livepeer is an open-source protocol, meaning that devs are able to join the management of the code on GitHub. 

The team considers revolutionizing the streaming sphere via blockchain to be the core aim. This open-source network gives users and devs a possibility to join the government and develop the Livepeer easily.

What are the advantages of Livepeer (LPT)?

  • Sphere changer. Livepeer is giving users numerous opportunities to contribute and participate in the network. There is a pay-as-you-go function while consuming the video content, uncensored journalism and video-enabled DApps.  
  • Token price. The LPT token costs more than $9 now and this is quite a good price. Also, according to Coinmarketcap, the all-time high of it reached $100, which gives a strong hope the current value could grow in future. 

What are the disadvantages of Livepeer (LPT)?

  • High competition. The huge competitors of Livepeer are services like Amazon. They already gained worldwide loyalty and are very serious opponents. However, the time will show if Livepeer can beat any of such giants.  
  • Decentralization. Security of the protocol partly depends on the decentralization of the orchestrator nodes. Now, Livepeer is trying to build a robust network and is susceptible to the big scale events, which could impair a huge number of its nodes.

How to buy Livepeer (LPT)?

Want to buy LPT? Visit the SimpleSwap homepage. Follow our instructions to purchase LPT:

  • Let's say you would like to exchange BTC for LPT. Choose the currency you want to exchange (BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select LPT in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. LPT will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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