The Livepeer project aims to deliver a live video streaming network protocol that is fully decentralized, highly scalable, crypto token incentivized, and results in a solution which can serve as the live media layer in the decentralized development (web3) stack. In addition, Livepeer is meant to provide an economically efficient alternative to centralized broadcasting solutions for any existing broadcaster. In this document we describe the Livepeer Protocol – a delegated stake based protocol for incentivizing participants in a live video broadcast network in a game-theoretically secure way. We present solutions for the scalable verification of decentralized work, as well as the prevention of useless work in an attempt to game the token allocations in an inflationary system.
Peer to peer video services. Incentivized.
Livepeer is creating a scalable Platform as a Service for developers who want to add live or on-demand video to their project. We aim to increase reliability of video workflows while reducing the costs to scale them. To achieve this we are building p2p infrastructure that interacts through a marketplace secured by the Ethereum blockchain. To fit the requirements of today’s DApp developers we are building Livepeer with these core attributes in mind:
Livepeer’s peer-to-peer network allows you to scale to any size without a single point of failure. It will optimize quality of encoding and performance of delivery.
Livepeer’s peer network aims to reduce the price of transcoding by an order of magnitude over cloud providers, by using crypto-economic incentive mechanisms.
No single company or individual can control the network. All participants have the ability to shape Livepeer.