Round | Amount | Valuation | Date | Investors |
---|---|---|---|---|
Series B1 | $20M | -- | Jan 05, 2022 | |
Series B | $20M | -- | Jul 29, 2021 | |
Series A | $8M | -- | Jun 17, 2019 | |
-- | $3M | -- | Feb 01, 2018 |
Livepeer(LPT) aims to provide a fully decentralized, highly scalable, and encrypted token-incentivized real-time video streaming network protocol that serves as the real-time media layer within the decentralized web3 stack. Additionally, Livepeer aims to offer an economically efficient alternative to centralized broadcasting solutions for any existing broadcasting company.
Livepeer Protocol:
- Allows any node to send real-time videos to the network and optionally pay for transcoding them into various formats and bitrates.
- Allows any node to request videos from the network.
- Enables participants to contribute their processing power and bandwidth to offer transcoding and distribution services for videos and receive corresponding compensation.
The Livepeer Token (LPT) is the protocol token of the Livepeer network. LPT is a staking token, and participants seek to perform work on the network in exchange for network equity to coordinate the allocation of work on the network and provide security to ensure honest and correct execution of work. Broadcasting companies use Ether (ETH) on the Ethereum network to broadcast videos on the Livepeer network. Nodes that contribute processing power and bandwidth earn ETH as fees from broadcasting companies. LPT serves the following purposes:
- It serves as a bonding mechanism in the delegation proof-of-stake system, where stake is delegated to transcoders (or validators) participating in the protocol to perform video transcoding and verification work. If the protocol is violated, the staked tokens may be slashed to protect the network from various attacks.
- It routes work in the network based on the quantity of staked and delegated tokens, essentially acting as a coordination mechanism.
- It is the accounting unit specific to the Livepeer ecosystem and forms the basis for the concept of SectorCoin, applicable to additional features introduced in the future. Services such as DVR, hidden subtitles, ad insertion/monetization, and analytics can be integrated into the Livepeer ecosystem and potentially leverage the security provided by staking LPT.