Ethereum Blockchain, LPT Tokens and Open Video Infrastructure – Reinventing the Future of Live Streaming
Doug Petkanics, CEO of Livepeer, was our guest at Speedify Live, where we spoke about how the open video infrastructure they are building is becoming the future of livestreaming.
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. In layman’s terms, this means that anyone who has extra computing power can put that to use on to the Livepeer network and earn money if they’re powering video encoding and video distribution.
Watch below the entire Speedify Live show to find out more about what Livepeer does and how you can optimize your live streams.
Quick answer
Should you have a backup 4G, 5G, Starlink, or cable internet connection?
Yes — every internet connection goes down, including Starlink, which drops for ~34 minutes a day on average. A backup connection from a different provider means one outage never takes you fully offline. The most common options are a 4G/5G cellular hotspot, a cable or DSL line, or a second satellite dish.
4G/5G cellular
Works anywhere. Just a SIM or hotspot — no installation needed.
Learn more →Cable / DSL
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Learn more →Second Starlink
Adds redundancy and throughput for remote sites or heavy usage.
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Speedify Feature · Pair & Share
Speedify Pair & Share: share cellular between your devices, both ways
Most hotspots give. Speedify's Pair & Share gives and takes. Two devices running Speedify pair up and each uses the other's cellular connection simultaneously, so you both get faster uploads, faster downloads, and a steadier connection. No extra hardware, no new data plans, no setup beyond a tap.
Learn how Speedify's Pair & Share works ›More speed
Every device you pair with adds its cellular to yours, and yours to theirs.
Stays connected
If a paired device drops out, Speedify keeps you online on the remaining links.
Always private
Every shared connection runs through AES-256 encryption. Your traffic is yours.
No new gear
Runs on devices already running Speedify, over your local network. Pair once, reconnects automatically.
Decentralized Streaming Services Are 10 to 50 Times More Cost Effective
This distributed computing network architecture is ideal for efficiently scaling the computing power for live streaming. Using a decentralized streaming service such as Livepeer is 10 to 50 times more cost effective than using one of the existing providers for encoding and video distribution (Amazon, etc.).
As a video miner / contributor running a Livepeer node, you earn LPT (Livepeer token) and ETH (Ethereum) rewards. These are crypto assets you can trade using exchange platforms such as Coinbase, Binance, etc. According to Doug, at this time, by putting your GPU’s idle power to work, you can earn up to a couple of hundred dollars on average per week.
Not to mention that creators can also leverage the mechanism and network to create NFTs and sell them, if they want to focus on that.
As a developer (live streamer), you can use Livepeer for free for up to 1,000 minutes of live streaming per month.
Are Livestreams Secure when Using Livepeer Decentralized Streaming Platform?
By default, the GPU that handles the transcoding can recognize the video and if the user wants, they can get those 2-3 seconds of video and do anything with them. So this is mostly intended for videos being broadcast to public platforms such as Twitch, YouTube, etc.
If you need your live streams to be truly private, you can work with companies on the Livepeer network to encode your video and get a contractual guarantee for securing that.
When you’re running a Livepeer node, you should also consider making your internet connection more stable and secure. And Speedify can help with that.
Streaming emergencies – Doug’s Story
Doug decided to share a streaming emergency that was slightly different than that: “… during one of our project’s open community calls, someone dropped in and started screensharing something that no one attending will ever be able to unsee.”
More About Livepeer and Speedify
Watch the video (Twitch | YouTube | Facebook) to find our more about:
- the Livepeer community;
- how to best earn and use LPT rewards;
- Doug Petkanics – his likes, how he and his team built Livepeer, etc.;
- great resources on crypto and decentralized streaming.
Find out how Livepeer works >>
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