Livepeer is a decentralized platform focused on video streaming, built on the Ethereum blockchain. It aims to provide an efficient and cost-effective infrastructure for developers who want to add video capabilities to their applications. The project operates by allowing users to earn tokens by sharing their excess computer resources for video processing. This method helps to scale video delivery while reducing reliance on centralized services. Contributors can become “transcoders,” converting video files into formats suitable for different devices and networks.Livepeer utilizes the Livepeer Token (LPT) as its native currency. Users can stake LPT to participate in the network and earn rewards based on their contributions. This staking mechanism encourages active participation and helps secure the platform.Overall, Livepeer seeks to democratize video streaming, making it more accessible and affordable for developers and content creators while leveraging blockchain technology to improve the efficiency of video processing and delivery.