Hong Kong, China -- (ReleaseWire) -- 03/30/2021 --With the continuous popularization and application of blockchain technology, the architecture of its distributed ledger has been widely recognized around the world, and many applications have been developed based on it, including finance, medical care, logistics, asset management and other fields. The decentralization of blockchain has been largely achieved.
Together, Blockchain 1.0 (the Bitcoin Network) and Blockchain 2.0 (the Ethereum Network) have built today's market landscape for globally distributed applications (DAPS) in the form of both static and dynamic networks. However, at present, DApps in the market are still in a relatively blank stage to solve the problem of decentralized streaming media and open data. In order to fill this gap, LivePeer project came into being. This project realizes decentralized live video on the Internet through the technological breakthrough of decentralized media and open data.
With the continuous development of computer technology, the Internet industry is more and more closely connected with other fields. With the popularization of 4K technology and VR technology in mobile phones and wearable devices, the combination of the Internet and traditional industries will be further accelerated.However, the current Internet live broadcast is carried out through the centralized server, and then the live broadcast content is distributed by the terminal access server.However, at the level of Internet technology, it is still impossible to distribute different content live broadcast according to different user needs.
Therefore, the LivePeer development team proposed a DApps solution based on distributed architecture. The computing power and bandwidth of each node on the chain provide support for streaming media. The underlying structure based on blockchain technology enables the service to access nearly unlimited computing power nodes, so as to promote the content distribution of decentralized live streaming.
In addition, as the incentive mechanism is not a token issue in the traditional sense, the actual LivePeer has broken away from the classic model category of DApps, but is more like a public network.
Run the logic
Livepeer is running on the etheric fang, therefore the etheric fang (ETH) in Livepeer could be used as general tokens, Livepeer to calculate power and bandwidth provider for rights to prove, through commissioned interest node will be verified in the converter of video transcoding and validation work (everything will run automatically in the process), and LPT will be relying on distributed accounting tools, under this agreement mechanism based on this, the future of VR, subtitles, ads, etc all can enter Livepeer,And program security will be accomplished by the underlying blockchain consensus mechanism.
LPT is generated by running the LivePeer media server and participating in code-conversion (mining). LPT's incentive is allocated according to the bandwidth and computing power provided by each node. The amount of allocation is proportional to the amount of work.Those who fail to complete the decoding work or attempt to obtain LPT through other cheating methods will have their rights revoked.
On the other hand, LivePeer has also made relevant rules for miner competition. The increase in the number of LPT earned by a single node is equal to the decrease in cost. This means that the more nodes are mined, the lower the mining cost will be, so the higher the economic benefit will be!
ZB.com has launched LPT
LivePeer's incentive token LPT has been heavily held by Grayscale Investment Trust, the world's largest digital asset management company, and has been listed on major exchanges since 2019. On January 22, 2021, LPT and five other currencies were listed on the company's filing website in the US state of Texas, and the price of the coin increased accordingly.
Veteran digital asset exchange ZB.com has launched its LPT (LivePeer Token) on March 18, 2021 Hong Kong time. ZB.com has launched a series of activities for this purpose. In addition, API users who trade more than 100,000 LPT can apply for the VIP rate and enjoy the VIP period of 3 months.