Livepeer v1

Livepeer is a decentralised protocol that provides infrastructure for video streaming and real-time AI processing. It enables developers to build and scale applications that require video transcoding, live streaming and AI-powered video manipulation. The platform leverages a distributed network of orchestrators who perform video processing tasks, such as transcoding and applying AI models, using their own computing resources. This approach aims to reduce costs and increase efficiency compared to traditional centralised video infrastructure providers.

Livepeer supports various applications, including:

• Real-time AI video processing: Applying AI models to live video streams for tasks like object detection, style transfer and content moderation.

• Interactive video applications: Enabling features like real-time filters, avatars and virtual environments in live streams.

• Decentralised video streaming: Providing infrastructure for live and on-demand video streaming without relying on centralised servers.

LPT serves multiple functions within the Livepeer ecosystem:

• Staking and Delegation: Token holders can stake (bond) their LPT to orchestrators, who perform video processing tasks. The amount of LPT staked influences the distribution of work among orchestrators. In return, stakers earn a portion of the fees and newly minted tokens generated by the network.

• Governance: LPT holders can participate in the governance of the Livepeer protocol by voting on proposals that affect the network's development and operations.

• Incentivising Network Participation: By staking LPT, token holders help secure the network and ensure the reliability of video processing services. Orchestrators who fail to perform their duties correctly can be penalised by having a portion of their staked LPT slashed.

Livepeer was co-founded in 2017 by Doug Petkanics and Eric Tang. Both founders have backgrounds in software engineering and entrepreneurship. Prior to Livepeer, they co-founded Hyperpublic, a company focused on local data and APIs, which was acquired by Groupon. Their experience in building scalable web applications and their interest in decentralised technologies led them to create Livepeer as a solution for decentralised video infrastructure.

Yondon Fu is also a key contributor to the Livepeer project, serving as the Director of Engineering. He has a background in software development and has worked on various projects related to decentralised technologies.