coinbase An altcoin backed by Ventures and the Digital Currency Group is on the rise after a month of key milestones.
Ethereum-based video streaming project Livepeer (LPT)Gained more than 152 percent in a 24-hour period, hitting an all-time high of $100.99 today.
According to the Livepeer website, the platform is working to create “scalable and affordable” solutions for online video creators.
“Livepeer is a scalable Service Platform for developers who want to add live or on-demand video to their projects. It aims to improve the reliability of video streaming and reduce the associated costs by up to 50 times.
To achieve this, Livepeer will interact through a marketplace secured by the Ethereum blockchain, p2p [eşler arası] It builds an infrastructure.”
Livepeer has raised $31 million in funding from more than a dozen investors, including crypto industry giants Coinbase Ventures and Digital Currency Group. Additionally, in October, the company acquired media server MistServer; launched its first NFT (non-fungible token) and hosted COLLIDE, the “first concert with a live NFT edition”.
The acquisition of MistServer was made to consolidate Livepeer’s primary goals of scalability, affordability and reliability.
“Livepeer’s mission is to build the world’s open video infrastructure… Livepeer and MistServer work together to provide a disruptive infrastructure that offers a high-quality, low-cost alternative to traditional proprietary vendors running on expensive big-tech cloud platforms.”
Livepeer was founded in 2017 to address the bandwidth and transcoding cost for video on the internet, and was launched on the Ethereum network in May 2018.
Although LPT lost some of its gains after its big rally, it is trading at $88.87, up 113 percent at the time of writing, according to CoinGecko data. altcoinmaking it currently the 86th largest cryptocurrency by market cap.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.