Livepeer launched in 2017 and is a protocol designed for decentralized video streaming. It uses a P2P setup that runs on the Ethereum blockchain. By targeting issues in today’s video streaming ecosystem-such as expensive streaming and transcoding of raw video files-Livepeer aims to deliver a solution that’s easier to scale and more cost-efficient. In practice, the network works by converting broadcasters’ video uploads into formats that fit end-user playback.

Because Livepeer is built on Ethereum, its native asset, LPT, is issued as an ERC20 token. The project has a maximum supply of 26,112,702.

What are Livepeer’s key features and how does it work?

Livepeer supports three main participant groups: developers, users, and broadcasters. Developers can build applications on the Livepeer network that include live or on-demand video features, with Livepeer providing the video layer.

Users stream video experiences-such as coding, gaming, educational content, and other entertainment-through applications built on top of Livepeer. Broadcasters, including streamers and other content creators, can also use the platform to publish their streams while lowering streaming and infrastructure-related expenses. 

The network relies on two primary roles: Video Miners and Delegators. Video Miners can operate in two ways: orchestrators and transcoders. Orchestrators assist in distributing transcoded outputs: they take the video from broadcasters and hand it back after transcoding is finished. Transcoders provide compute resources (including CPU, GPU, and bandwidth) to transcode video into the needed format. Orchestrators receive fees in the form of cryptocurrency for their contributions. To become an orchestrator, a user must hold LPT tokens.

Delegators are also LPT token holders. They support the network by staking and then “delegating” their tokens to selected transcoders, who use their own compute resources on the delegator’s behalf. Delegators earn a fee as well for staking, though part of it is directed to the orchestrator.

What can LPT be used for?

LPT is fundamental to how the network runs. As noted above, it’s required to operate as an orchestrator. An orchestrator with more LPT can contribute more resources to the network, and in return, it receives greater rewards.

Where can you buy LPT?

LPT is offered for trading on the CEXs and DEXs listed below. The most widely used venues with the highest liquidity are Binance, Huobi Global, Gate.io, and OKX. LPT’s price can differ by exchange and broader market conditions. For current and historical market information on LPT, refer to the price charts on this page.