Livepeer is a platform for video transcoding and distribution.
With Livepeer you can livestream your workshop to your viewers around the world.
First your need to send your video to the Livepeer network, Livepeer transcodes the data into all the formats and bitrates that his viewers can consume.
There are two key actors in the Livepeer network that ensure the quality of the livestream.
Transcoders and Delegators.
Transcoders perform the job of transcoding the stream into another bitrate or packaging format for all of your viewers.
Delegators are token holders who stake towards transcoders.
Transcoder is nominatd by hundreds of token holders who have chosen to stake their token towards the transcoder and that is where you come in.
As a token holder, you wan to participate in the network by staking Livepeer token towards the transcoder.
You can think about staking like putting a deposit down. You tokens are locked up for a period of time and then you can take them back or stick towards a different transcoder.
Doing this helps ensure that the network is more secure.
The cool thing is, you earn additional Livepeer token just from staking your token with the transcoder as a reward for ensuring a high quality and secure network.
First, when you pay fees into the network, both transcoders and delegators like you earn a portion of those fees for the work you are doing to secure the network.
Second, Livepeer also mints new token over time, much like Bitcoin block rewards, which are split among delegators and transcoders to do honest work.
The easiest way for you to stake your tokens is to visit Livepeer explorer. This will display a list of active transcoders on the network. It's your job as a token holder to research transcoders based upon their performance, statistics, rates they are charging and stake your tokens.
Check Livepeer on
@stateofthedapps official website here.
