The open video infrastructure in Livepeer offers developers a great medium to create video streaming applications. The Livepeer network, which has been operational on Ethereum’s mainnet since May 2018, is managed by a decentralized network of token-holding node operators and powers both traditional and web3 video streaming at lower costs than existing cloud providers. Livepeer focuses on delivering value to a variety of stakeholders, including: GPU Cryptocurrency Miners – Existing GPU miners can earn extra money by transcoding video on Livepeer without interrupting their mining profits because existing GPUs feature video encoding processors that stay idle while hashing. Video streaming platforms – Reduce transcoding costs from cloud providers’ $3 per stream/hour to 10-100x lower over the open Livepeer network. Livepeer’s goal is to deliver scalable streaming without extensive DevOps. Token holders can receive a piece of the network’s profits and inflationary token awards for providing security and quality assurance on the network by staking their tokens. Working of Livepeer Users can engage in the following flow with the use of Livepeer technology and protocol: Send a video from your camera, phone, computer screen, or webcam to the Livepeer network. Nodes in the network will encode it into all of the required formats so that it may reach every supported device. Users who host these nodes will be rewarded with fees paid in ETH ...
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