LivePeer is said to be a scalable Platform-as-a-Service (PaaS) and using this platform startups and organizations can add a live or on-demand video.
It claims to be the world’s open video infrastructure and helps creators design and have autonomy in their creations.
In this article, we will dig deeper into the Livepeer platform and try to understand how it functions, how the platform helps creators, and how it has become a growing network of open video.
This article mainly focuses on whether Liverpeer is a good investment and finds out about its future crypto prospects.
So, let’s dive into it.
What is Liverpeer?
Livepeer is an Ethereum-based decentralized video-streaming platform. It is a blockchain that serves live and on-demand video streaming content.
The platform provides more scalable, affordable, open, and robust solutions. It is not a single company-owning platform and all owners can run it freely.
The platform also allows the owners to earn a passive income by contributing LPT tokens to run nodes thereby securing a network.
Livepeer token is a multi-utility token and every transaction that takes place is transparent and is available on Etherscan.
Now, let’s look at how it works.
How does it work?
Earlier, the LPT was deployed through crypto community events such as Devcon. It went through a lot of upgrades and from January 2020, it has been deployed through stream flow where it can acquire more network consumption at a lower cost.
The nodes also known as Broadcasters can send video streams to the network for transcoding. This is then received by Orchestrators, who contribute their system to the network in exchange for fees in ether (ETH).
To become an Orchestrator it is necessary to stake in Livepeer. They serve as a coordinator and are responsible for the video to be correctly transcoded.
The work is distributed according to the amount staked by the Orchestrator. If you do not wish to be an Orchestrator, you can stake the LPT tokens with an Orchestrator.
What is LPT?
LPT or LivePeer Token is designed to act as a form of incentive system that helps to keep the network a cost-effective and secure one. The LPT enables the Orchestrator to act honestly and secure the network.
It is a decentralized form of system and new tokens are created at the end of each period known as rounds. It is distributed to the Delegators and Orchestrators in proportion to the stakes they have levied. One round lasts roughly 24 hours.
When compared to a costly and centralized infrastructure, Livepeer’s decentralized system can be viewed as a perfect alternative for video broadcasters. Centralization also causes censorship whereas a decentralized platform creates a space for content creators to make their voices heard. Livepeer predicts that it creates a better alignment between content creators, consumers, and the platform.
The inflation in the rate of LPT will be adjusted automatically depending on the number of staked out at the end of each round.
LivePeer Price Prediction 2024, 2025, 2030
LivePeer has been constantly setting high records in cryptocurrency over the years. Currently, Livepeer is trading at $14.33, and it is 15.93% up in the last 24 hours.
It has risen above 64% in the last 24 hours. With its current trend, the prices can go up to $8.06. Predictions show that in 2024, LPT will be $10.21. The average price is expected to be around $9.99.
In the year 2025, the market predicts that LPT will go up to $31.83 and it starts from the year low of $13.87. So, compared to the market today, it could make a gain of 124.96% by 2025.
The Livepeer price forecast for 2030 is somewhere between $8.55 at the low end and it can go up to $54.45. It can go up to 280.33% by 2030.
How to buy it?
To buy LivePeer, you have to create an account on different platforms or apps such as Binance, Kraken, and Mudrex.
After creating the account you can choose the Livepeer asset you want to buy.
Once you select the asset, you can check the payment details and make the payment.
Is LivePeer A Good Crypto Investment?
LivePeer is a decentralized blockchain network and for the past few years, it has provided scalable, profitable, reliable, and secure results. It also is an easy-to-share platform. It also allows the investors to make passive incomes and it is highly compatible because of its Ethereum foundation.
If we look at the market trend of LivePeer, the charts tell us that it is likely to go up in the upcoming years. It has tight competition with other video transcoding service providers such as Amazon Web Services. However, LivePeer has the advantage of having a decentralized network.
Before investing in cryptocurrencies it is important to do your own research and it is always important to start with the small steps instead of putting in a lot of money.
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