Livepeer, the leading decentralized video processing protocol, is hosting an AMA session on May 5th at 8:00 PM UTC on its Discord server.
The session will be focusing on recent updates, including the hotly debated Streamplace 2.0 proposal and the Bounty Board revamp.
Livepeer protocol is built on the Ethereum blockchain to democratize video processing. It enables any developer to easily integrate high-quality video into their application with superior efficiency and cost-effectiveness compared to traditional solutions.
Livepeer’s innovation lies in its decentralized video processing, achieved by distributing transcoding tasks among a network of node operators. Transcoding is the essential process of converting raw video files into the best format for each user, considering their screen size, internet connection, and other factors to ensure seamless streaming.
This unique approach, powered by game theory, cryptoeconomic incentives, and smart contracts, allows Livepeer to create a secure, reliable, and economical system for video processing.
Livepeer’s native asset, the Livepeer token (LPT), is a crucial component of the network. As an ERC-20 token, LPT secures the network, proportionally distributes video processing tasks among participants, and incentivizes active participation with various network roles. The stability, security, and robustness of the network scale with the amount of LPT committed to it.
Join the Livepeer Discord server: https://discord.gg/livepeerfor the full AMA session and engage with the Livepeer community.
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