Livepeer to Host Meetup in Abuja on July 19th

Livepeer will host an informational session in Abuja, on July 19th at 13:00 UTC. The meeting is designed to explain the delegation process for securing its decentralized video network without requiring prior technical expertise.

LPT Info

Livepeer is a decentralized protocol, leveraging the Ethereum blockchain to democratize the field of video processing. It provides an avenue for any participant to integrate video content into applications with a level of efficiency and cost-effectiveness that is superior to traditional solutions.

Livepeer’s operation hinges on the principle of decentralized video processing, achieved by distributing transcoding tasks among a network of node operators. Transcoding is the crucial process of converting raw video files into an optimal format for each end user, factoring in variables like screen size and internet connectivity. This mechanism ensures an uninterrupted delivery of video content. The use of game theory, cryptoeconomic incentives, and smart contracts underpins Livepeer’s ability to foster a secure, reliable, and economical system of video processing.

Livepeer“s native asset, the Livepeer token (LPT), plays a pivotal role in the network”s functioning. As an ERC-20 token, it not only ensures the network’s security but also equitably distributes video processing tasks among participants. Furthermore, it encourages active participation by incentivizing network roles. The stability, security, and robustness of the network scale in proportion to the amount of LPT committed to it.