What is Livepeer ?
Livepeer is a scalable platform for organizations and startups to promote on-demand videos and live clips of their offerings. In other words, Livepeer is an Ethereum protocol built for video transcoding. It is the process of reformatting video to suit various devices and bandwidth. It is designed to make streaming more reliable and reduce the overall cost.
Also, the platform acts as a decentralized marketplace for developers to build applications that facilitate transcoding providers and live video. The native token used in the platform is the Livepeer Token.
Primary features of Livepeer
- Livepeer token is a multi-utility token (ERC-20) with every transaction being transparent and available at Etherscan.
- Livepeer is decentralized, so there is no single company that can control the market. Instead, all are owners of the network and can run it freely.
- It offers the Livepeer token holders the opportunity to earn passive income by staking LPT tokens and securing the network. In addition, you can use the tokens to carry the process of transcoding and video distribution across the entire Livepeer network.
- If the number of LPT tokens an orchestrator holds is more, they are considered more active and thus eligible to earn more rewards.
Is Livepeer a promising cryptocurrency?
Livepeer is constantly setting high records in the cryptocurrency market. In fact, on Nov 9, 2021, the platform doubled itself and made a hit of all-time, i.e., exceeding $83. In addition, it has gained 5000% and more in 2021, thus, questioning every investor whether they should invest.
Livepeer exploded its performance after its CEO Petkanics shared that the project will solve TechCrunch. For those who other video streaming platforms have failed, the suitable alternative is Livepeer.
Recently, Livepeer has raised about $20 million. It has attracted investors like CoinFund, Coinbase, and others. Moreover, the forecast says that the global video streaming market will grow by $843 billion by 2027.
How to use Livepeer coins?
- To utilize Livepeer.com to its fullest potential, users must set up their accounts first. Then, you can browse through the many choices available, like streaming or buying Ethereum.
Add your details accurately, like your name, password, and email address. Keep a strong password with multiple different characters, numerals, and letters.
- Include valid documentation to verify identity, address, and phone number, like driver’s license and passport.
- After creating the Livepeer.com account and verifying the email address, reach the dashboard. On the home page, you will see the Stream section. Open the “+ Create Stream” button, and click on “Create new stream.”
- Install an OBS software and go to the “Settings.”
- Click on Stream> Custom>Reveal Stream Key. Copy-paste the stream key in the given field.
- Copy-paste “RTMP ingest URL” in OBS Stream Setting> Server.
Pros & Cons of Livepeer coin
- Compatible: Compatible with crypto-exchange platforms like Coinbase
- Secure: Secure transactions
- Easy Sharing: Easy to share/stream video content
- Decentralized Blockchain Network: Decentralized platform
- Not Supportable: The wallet is not supported in many countries.
- USD Applicable: Only USD trading pairs are applicable.
Trade Livepeer coin on CoinSwitch kuber
For trading Livepeer coin via CoinSwitch Kuber, users need:
- Driver Licence/Passport/Aadhar card
- PAN card
- Smartphone with a front camera
The steps for trading include:
- Link the bank account profile with the CoinSwitch account.
- Deposit the amount from the bank via NEFT, IMPS, or RGS into the CoinSwitch wallet.
- Selecting the crypto exchange medium.
- Buying/selling the crypto Livepeer tokens.
Livepeer ICO summary
Overall, Livepeer Coin plans to deliver a usable network protocol for live video streaming with benefits like high scalability, decentralized nature, and incentivized crypto tokens. Users, therefore, get a cost-effective alternative to other centralized broadcasting platforms with secure extensions and features.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.