Why Livepeer (LPT) Is Going To Explode In 2023

Last Updated December 29th 2022

5 Min Read

Consider diversifying your portfolio by adding LPT, a growing crypto asset, to it.

The cryptocurrency investment space differs from the traditional stock market in many ways. In stocks, it is usually the high market cap, blue-chip stocks that are closely tracked, but in cryptos, a low market cap asset is closely watched by investors as it can return more than top cryptos like Bitcoin or Ether.

Shiba Inu (SHIB) was among the most popular cryptos of 2021, reflecting the mood of investors who want to bet on altcoins. The coin grew immensely and generated massive returns. Having joined the list lately is Livepeer (LPT) crypto, one of the hottest digital assets in the market.

Livepeer is a decentralized live video streaming network protocol and infrastructure. It entered the market intending to empower dApp developers, entertainers, and streaming service hosts to unlock communications, economic opportunity, and entertainment for society moving forward. To accomplish this task, the platform integrates an Ethereum-based protocol and a network of Video Nodes.

The platform's unique offerings and business proposition are why Livepeer (LPT) is going to explode in 2023, according to various experts.

Looking At 2023: Is Livepeer Price Set For A Massive Rally In 2023?

Livepeer is an Ethereum-based decentralized service that aims to slash costs for video streaming apps significantly. It does this by distributing resource-hungry transcoding tasks to users who lend their computer’s processing power to the network. Like most decentralized services, network participants receive incentives like the “orchestrators” who transcode video and delegators who stake LPT tokens to ensure liquidity.

The project continues to see support from the crypto and video sectors. Livepeer has grown to be a popular option since it launched in 2017. It has +70,000 GPU nodes in operation. Additionally, +12 million LPT tokens are staked in network smart contracts. These numbers increased alongside the industry as Covid-19 quarantines drove the demand for streaming services considerably.

Livepeer has become a leading network for crypto enthusiasts with its latest upgrades and partnerships. LPT is also one of the fastest-growing cryptocurrencies today. The token has managed to reflect positive momentum since the beginning of the year. So let us dive into our main point of discussion - is Livepeer (LPT) going to explode in 2023?

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

Factors That Drive Livepeer To Explode This Year

Unique Offerings

There are multiple problems that Livepeer attempts to rectify in the market. For one, the platform is designed to provide an alternative to the large centralized video hosting services in operation today, such as AWS, GCP, and Azure. By providing a decentralized infrastructure for developers that is both secure and responsive, Livepeer seeks to provide a free and democratic option to the market.

Censorship is another problem that has been born out of the extreme centralization of video streaming services. Platforms like YouTube dominate the industry and can dictate prices, advertising schedules, and particular narratives at will.

The growing censorship on these networks is a litmus test demonstrating why it is vital to have alternatives. Livepeer enables users to get their voices heard through the power of decentralization.

Last-Mile Issues

“Last mile” issues is a term used by professionals to describe the degradation of service as it is sent further from the broadcast center. The current high demand for HD-quality video streaming has made these issues even more relevant. The open video streaming infrastructure provided by Livepeer harnesses underutilized resources like compute and bandwidth and combines them with the advantages of blockchain technology.

Unlike traditional video streaming services that lose signal strength as more viewers join, the Livepeer network gets faster as more nodes participate. In addition, every node helps to decentralize the network further, making it more secure.

Low fees

By leveraging GPUs from users across the globe, Livepeer can provide HD quality streaming services in a cost-efficient manner. Lowering the cost of broadcasting and streaming will enable more opportunities for technological advancements in the sector. It also improves profit margins for content creators. As of late, content creators have been repeatedly bullied by large streaming services, and Livepeer seeks to end this mistreatment.

Passive Income and Supportive Community

Livepeer enables users to stake their LPT tokens and earn passive rewards. Staking is the process of locking your tokens into a smart contract on the network. In exchange, you receive rewards based on the number of assets you staked and the time. Notably, staking is one of the most popular options in the DeFi sector because it provides more consistent ROIs than trading. You do not need to learn strategies or market conditions to profit from staking.

Notably, Livepeer provides its community with multiple ways to join the network. Developers gain access to valuable tools to create robust Dapps. The developer support section includes guides, tools, resources, and more. You can also connect Livepeer to your third-party applications securely utilizing the network APIs.

Check Out: Could Livepeer (LPT) Be A Millionaire-Maker Coin

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

Why Livepeer Is Going To Explode In 2023: The Bottom-line

Decentralized infrastructure services could be very valuable as the Web3 market grows and matures. Various experts believe that Livepeer will be one of the services that help transform the streaming video market, and that vote of confidence may well help it stand out from the pack and bring in more app developers who want to tap into its decentralized network.

Livepeer is a powerful tool for those seeking a more cost-efficient and secure streaming service. The network continues to see growing adoption due to its unique features and expanding network. These are some factors why Livepeer is going to explode in 2023.