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What is Livepeer coin (LPT) and how does it work?

by Financial Economy

Livepeer is a decentralized video streaming network built on the Ethereum blockchain. It was created to assist in affordable and reliable video encoding. LPT coin is the currency of this network. LPT token holders use Livepeer coin to monetize their own business or to earn newly created tokens. Information about what is Livepeer coin LPT and how does it work, what is its price, which stock market it is on, what is its future, etc. in rest of the article. You can browse here for information about SAFEMOON coin.

What is Livepeer coin (LPT) and how does it work?

Livepeer is an infrastructure platform built on the Ethereum blockchain that allows developers to broadcast videos decentralized. Livepeer aims to provide a cost-effective and efficient infrastructure for live broadcasts. Livepeer aims to eliminate the payments to various companies for the infrastructure and bandwidth required to broadcast live on the Internet or the control of third parties.

LPT is the native token of the network and is used for network security and coordination, for intranetwork transactions. Also, LPT token is given as a staking reward. However, ETH is used when paying transaction fees for the network’s video applications. The total supply of Livepeer coins (LPT) is 22,859,012 units.

Staking and video mining are done on the network. In video mining, a node is run on the Livepeer network and the GPU and LPT are mined. According to the data, the network has the capacity to access over 70,000 GPUs, which is considered sufficient to provide infrastructure for live streams on platforms such as Twitch, YouTube and Facebook.

What exchanges is Livepeer available on? How much does LPT cost?

Livepeer (LPT) is listed by many crypto exchanges such as Uniswap, Sushiswap, OKEx, especially Binance. Before deciding which exchange to trade on, it is extremely important to do a good research in order not to risk your money. You should choose a reliable cryptocurrency exchange. As of July 2, 2021, the price of 1 LPT is around $ 18.59.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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