An altcoin backed by Coinbase Ventures and Digital Forex Group is surging after a month of huge milestones.
Ethereum-based video streaming mission Livepeer (LPT) soared to a brand new all-time of excessive immediately of $100.99, rallying greater than 152% inside a 24-hour interval.
Livepeer says it’s working to construct “scalable and cost-effective” options for on-line video content material creators.
“Livepeer is a scalable Platform as a Service for builders who need to add stay or on-demand video to their mission. It goals to extend the reliability of video streaming whereas decreasing prices related to it by as much as 50x.
To attain this Livepeer is constructing p2p [peer-to-peer] infrastructure that interacts via a market secured by the Ethereum blockchain.”
In October, the corporate acquired media server MistServer, commissioned its first NFT (non-fungible token), and co-hosted COLLIDE, “the first-ever live performance with stay NFT minting.”
The MistServer acquisition seeks to cement Livepeer’s main objectives of being scalable, reasonably priced, and dependable.
“Livepeer’s mission is to construct the world’s open video infrastructure… Collectively, Livepeer and MistServer present a disruptive infrastructure that provides a high-quality, low-cost various to the standard proprietary distributors operating on costly large tech cloud platforms.”
Livepeer has garnered $31 million in funding from over a dozen traders, including crypto trade titans Coinbase Ventures and Digital Forex Group.
Livepeer was based in 2017 to deal with the price of bandwidth and transcoding for video on the web. It launched on the Ethereum community in Could of 2018.
The value of LPT presently sits at $88.80, and the altcoin is now the 86th-largest crypto by market cap.
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Featured Picture: Shutterstock/Pavel Chagochkin
