Investor Alan Howard, with a net worth of $2.8 billion, and investment firm Tiger Global, which has $95 billion in assets under his management, have invested in Ethereum-based video network Liverpeer. Liverpeer has raised approximately $20 million in an extended segment of a Series B funding that began 5 months ago.

Livepeer, a completely decentralized live video streaming network protocol that allows startups to add videos to their products and is shown as a competitor to platforms such as Youtube and Twitch, has also managed to gain the support of famous investor Alan Howard and investment company Tiger Global.

The Series B funding round, in which Livepeer received an investment of $ 28 million, actually started about 5 months ago. This tour was led by the famous digital fund management company Grayscale. However, at the end of the tour, which lasted for a while, another $20 million investment was collected.

Livepeer (lpt)

According to Livepeer's statement, new investments will be spent on MistServer video software purchased in the fall, thereby expanding its customer base. MistServer is seen as a next-generation live streaming tool designed to be ideal for developers and with essential features for internet streaming.

In Livepeer's short-term roadmap, there are targets such as artificial intelligence-supported smart video and peer-to-peer content delivery, as well as artificial intelligence-enhanced content monitoring, song detection and video fingerprinting. Long-term plans include moving most of the protocol to second-layer solutions, making transactions much less costly for node operators and token holders.

Livepeer plans to expand its capacity in the future, including video NFT support. After the news was heard, LPT was premium by 10%, while it was seen that the increase was close to 20% on a daily basis.

Livepeer to USD Chart

What is the Livepeer project and LPT coin?

Livepeer, founded in 2017 by Doug Petkanics and Eric Tang, is a completely decentralized live video streaming network protocol operating on the Ethereum blockchain. The platform aims to be a suitable, blockchain-based, economically efficient alternative to centralized broadcasting solutions for all new and existing broadcasting companies.

A project considered as a decentralized alternative to platforms such as Youtube and Twitch, Livepeer wants to breathe new life into the fast-growing live video streaming and broadcast industry and bring decentralization to the environment. Livepeer aims to streamline the publishing process by allowing producers to post their work on the platform, taking care of reformatting content and distributing it to users and streaming platforms.

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Because Livepeer is built on the Ethereum blockchain, the platform uses a modified version of a delegated proof-of-stake (DPoS) consensus mechanism. There is no mining in a DPoS mechanism. Instead, the verification of new blocks on the blockchain happens based on the number of coins staked.