Livepeer Token (LPT) is the native cryptocurrency of the Livepeer network, which is designed to provide scalable video streaming services. The Livepeer platform aims to decentralize the video broadcasting process, allowing users to encode, stream, and distribute video content efficiently and cost-effectively.LPT serves multiple functions within the Livepeer ecosystem. It is used as a utility token to stake and participate in network activities, such as validating and processing video streams. Users can stake LPT to become nodes, contributing their computing resources, and earn rewards for their participation.Additionally, LPT holders can manage and influence network governance decisions. This means they can vote on proposals, updates, and changes, ensuring that the community has a say in the platform’s development.By leveraging blockchain technology, Livepeer aims to reduce costs associated with video streaming while improving accessibility and reliability for content creators and consumers alike. Overall, LPT plays a crucial role in promoting a decentralized and efficient video streaming marketplace.