### What is Livepeer?

Livepeer is a decentralised video streaming platform that allows developers to integrate live video into their applications by using a decentralised system of orchestrators. This system supports efficient, scalable, and secure video streaming. Built on the Ethereum blockchain, Livepeer aims to significantly reduce the costs associated with streaming by leveraging a distributed network for video transcoding and distribution.

### How does Livepeer work?

Livepeer operates on the Ethereum blockchain, using a delegation-based staking protocol. Participants can act as orchestrators (video miners) who handle video transcoding, or as delegators who stake LPT tokens to support these orchestrators. The protocol employs a two-layer consensus mechanism: one layer is secured by Ethereum, and the other uses a Delegated Proof-of-Stake model to manage token distribution and verify work. The network uses smart contracts for LPT staking and rewards distribution, facilitating a peer-to-peer network structure for video streaming.

### What are the potential use cases for Livepeer?

The main use cases for Livepeer include:

1. **Decentralised Video Streaming**: It is used to provide cost-effective streaming solutions via a network of nodes for transcoding and hosting.
2. **AI Video Processing**: Livepeer is expanding to support AI tasks such as upscaling, subtitling, and content recognition, adding value to various video applications.
3. **Video-on-Demand Services**: Enhances services with features like reduced latency and token-gating for custom playback.
4. **Web3 Application Integration**: By integrating with Web3, Livepeer supports decentralised applications, making it versatile for developers in the blockchain ecosystem.

### What is the history of Livepeer?

Livepeer was founded in 2017 by Doug Petkanics and Eric Tang, driven by a mission to create an open and decentralised video streaming network. Key milestones include:

- **2017**: Livepeer launched with the goal of decentralised video streaming.
- **2021-2022**: Secured $40 million in Series B funding. Expanded video offerings by acquiring MistServer.
- **2024**: Launched Livepeer AI to integrate advanced AI video capabilities.
  
Throughout its evolution, Livepeer has grown considerably, raising significant funding and scaling its market presence to be a leader in decentralised streaming and AI video processing.

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