After months of planning and execution, Indra Crypto Capital is excited to announce the rollout of our first product: YieldWallet’s Livepeer transcoder has just gone LIVE and we will eagerly make our case for Livepeer token holders to place their trust in us, to not only provide a reliable uninterrupted transcoding service to the network, but also to be a prudent steward of our share of the Livepeer block rewards, using it to foster the development and growth of the network.
Livepeer is a decentralized broadcasting platform that allows people to stream live or on-demand video over the internet. It can be used by developers in their applications that include live video, users who want to stream video or broadcasters who are looking for a way to decrease their streaming bills and infrastructure costs.
The cornerstone of this peer-to-peer network are Transcoders. They perform video transcoding jobs, which essentially means that they make any video available on any device (different screen sizes, resolutions, quality). They receive a reward in LPT and Ethereum for providing this service.
At the moment, only 25 Transcoders that have the highest amount of delegated LPT are active. That means that only they are allowed to perform transcoding and get a fee for it in Ethereum along with an inflationary reward in LPT.
Anyone who holds LPT can participate in this network by delegating their tokens to their favorite Transcoder. They do this for a variety of reasons including earning a share of the rewards and supporting the endeavors of the Transcoder itself, should they like the vision put forth on the Transcoders campaign page.
The key things to note as an LPT holder about the bonding or delegating process are:
To delegate your LPT you simply open a page of the Transcoder you wish to bond to, and click the“Bond” button. The address of the YieldWallet transcoder is:
https://explorer.livepeer.org/accounts/0xCdFC898128DBC380A60895c6E8C0975Dc07D07E0/transcoding
We have put together detailed step-by-step instructions on not only how to delegate your Livepeer tokens, but also how you can acquire them if you are buying them for the first time.
We have been long-time LPT supporters, watching the network grow and the software get better over time. Their upcoming Streamflow release comes with much anticipated changes that will enable more scalable services and a lot more video transcoding work to occur on the network. This is enabled (among other things) by expanding the active set from 25 transcoders to 100 and GPU-based transcoding.
What is really cool is that if you are a GPU miner, you will be able to mine Crypto and run a Transcoder on your hardware simultaneously. As GPU miners, we expect to be one of the first, if not the first Transcoder to perform dual Mining+Transcoding on the network.
LivePeer has the opportunity to completely disrupt the centralized video transcoding space and bring with it a fresh blockchain-based approach that includes the distribution of both the work and the rewards, censorship resistance and disintermediation of large middlemen (think data centers and transcoding service providers). We’re excited about what the future holds.
Read LivePeer’s September updates here and about Streamflow here.
You can also read a lot more about our bid to become an active transcoder and why you should support us on our Livepeer campaign page.
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Please leave your comments and questions about Indra Crypto Capital, YieldWallet, Livepeer or anything else you’d like to talk about and we will be sure to get back to you.
