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info_docs_depin/docs/depin_specs/miscellaneous_depin_projects/livepeer.md
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Livepeer Detailed information about Livepeer 1

Livepeer

Overview

Livepeer is a decentralized video streaming network that allows users to share their computing power for video transcoding. It leverages blockchain technology to create a more efficient and cost-effective video streaming solution.

Key Features

  • Currency: LPT (Livepeer Token)
  • Buying Currency: Available on exchanges like Binance and Coinbase.
  • Utility:
    • Used for network transactions and incentivizing video transcoding.
    • Staking rewards for network validators.
  • Automation:
    • Smart contracts automate video transcoding and reward distribution.
  • Utility in the Project:
    • Users can earn LPT by sharing their computing power for video transcoding.
    • Validators can stake LPT to secure the network and earn rewards.
  • API: Yes, Livepeer provides an API for developers to integrate with their applications.
  • User Perspective:
    • Users can easily share their computing power and earn LPT tokens.

How It Works

  1. Step 1: Users connect their devices to the Livepeer Network.
  2. Step 2: The network uses the shared computing power for video transcoding.
  3. Step 3: Users earn LPT tokens based on the amount of computing power shared.

Staking

  • Staking Requirements: Minimum of 10,000 LPT tokens to become a validator.
  • Rewards: Validators earn a percentage of transaction fees and block rewards.

Documentation

For detailed documentation, visit Livepeer Docs.

Additional Resources