CRYPTO PROJECTS

Livepeer: Is LPT a Hidded Gem?

Grayscale’s Trust consists of 13 different projects including Livepeer video transcoding protocol.

An easy way to tell, if crypto is worth your time, is to see if it’s one that institutions are buying. Now because most institutions can’t buy cryptocurrencies directly. One of the only ways they can get exposure to them is through exchange-traded products like Grayscale’s Crypto Trusts. You’ve probably heard of Grayscale’s Bitcoin and Ethereum Trusts before, but these are just two of the 13 cryptocurrencies that institutions have been investing in via Grayscale.

Another cryptocurrency on this list is Livepeer’s LPT token. Even though Grayscale’s Livepeer Trust has seen tens of millions of dollars of investment since it launched in March, Livepeer has gone by relatively unnoticed.

Now that Binance is listed LPT, I figured I’d take it upon myself to find out what Livepeer is all about and whether LPT token has any potential, and that’s exactly what I’m going to share with you today. Spoiler, this crypto project has serious potential.

Website: https://livepeer.org/

Disclaimer: All the content converted from Coin Bureau’s “Livepeer: Is LPT a HIDDEN GEM?? My Review!” video after getting the whole permissions

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What is Livepeer?

Livepeer was founded in February 2017 by Doug Petkanics and Eric Tang, both are software engineers and have worked together for almost a decade on multiple startups, one of which they sold to Groupon in 2012.

Doug and Eric got into crypto in 2016 because of Ethereum. They were fascinated by the economic incentives you can create using tokens and actually played a critical role in the development of Ethereum’s non-fungible, token standard used for NFTs today.

Doug and Eric realize that Ethereum was missing a decentralized video platform. Now, given their interest in video technologies and their experience in infrastructure engineering, they decided to give it a shot.

Since the beginning, Livepeer’s mission statement has been to quote build the world’s open video infrastructure. Now, while this goal is quite broad, it’s worth pointing out that Livepeer seems to be geared more towards use cases relevant to startups and journalists rather than the average person.

In a recent interview, Doug revealed that the focus on startups comes from the fact that he and Eric have felt the pain of high video streaming costs in their previous ventures. This high cost basically impossible for any startup to compete with existing video giants like YouTube and Twitch, and that’s obviously a problem.

Doug is also passionate about journalism and hopes that Livepeer will be used to create unsensible live streams of what’s really going on during times of crisis around the world. Read More…

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