The Livepeer Protocol: Decentralized Video Transcoding
Much has been written and talked about the Livepeer protocol in the last few months. They’ve accomplished something pretty impressive: a decentralized protocol that provides video transcoding services, which refers to the reformatting of a video to suit a variety of bandwidths and devices. Anyone with a supported device can earn LPT rewards in exchange for providing transcoding services to the network.
The best thing about Livepeer? As a developer, you can start making use of this technology right away. Their documentation is excellent. A great community governs the protocol through its LPT token.
Content Delivery Network (CDN): The Missing Link
These days, a typical example could be a DAO or DeFi project that wants to build a live or VoD streaming application. They leverage Livepeer to do the transcoding. After the raw video is processed into multiple resolutions and ready for delivery, it must be available for end-users to consume depending on their devices and connection quality. Livepeer video miners don’t get paid for this, nor is the protocol designed that way (Livepeer Docs: How to Integrate a CDN).
To solve the content delivery issue, DAOs will have two options: hire a legacy Web 2.0 centralized CDN (e.g., Akamai, Fastly, Cloudfront) or use a decentralized protocol providing similar services.
This is when Media Network comes into play, serving and caching these video segments through its distributed Media Edge network for a perfect streaming experience.
Combining both protocols means the video will first be transcoded by the Livepeer network and then served over Media’s dCDN to end-users requesting it. Media-Edge nodes distributed worldwide will cache the content and make sure the broadcaster node doesn’t get hit; while serving end-users with the video segments from a close location.
Liveepeer & Media Network: The Perfect Duo?
Sometimes people confuse Media Network with Livepeer as an all-in-one solution for video streaming needs. But in reality, both protocols need each other. To avoid buffering issues and provide a perfect video streaming experience to end-users, transcoding is a technique to ensure every peer will get a stream quality adapted to its bandwidth capabilities. These are precisely the kind of services that the Livepeer protocol provides.
As the first community-powered CDN and the only viable decentralized alternative to centralized providers, Media Network empowers developers to break free from traditional infrastructure limitations. The protocol accelerates growth and scale in the blockchain ecosystem by enabling developers and companies to decentralize their tech stack, serving content faster, more efficiently, and lowering costs.
Web 3.0 Composability: Protocols, Not Companies
One of the most exciting aspects of Web3 is the composability of protocols and tokens. It decentralizes data ownership, enabling the permissionless creation of interactive and uncensorable applications and networks. Tokens represent access, ownership, and control of these new applications and networks.
Right now, any DAO or anon team can build their video applications leveraging the power of these decentralized protocols. Protocols serving DAOs are going to be massive. A DAO can’t get an account with Fastly, Amazon Cloudfront, or Google Cloud CDN, but their treasure can easily buy and stake MEDIA for this. CDN services for DAOs, exclusively on Media Network!
Media Network’s dCDN is a perfect combination and already integrated with existing protocols capable of replacing the complete legacy tech stack to develop a video application such as:
- Domains: Handshake (HNS) — Decentralized DNS, compatible with legacy systems.
- Transcoding: Livepeer (LPT) — Decentralized video transcoding protocol.
- Storage: Arweave (AR) — Decentralized storage protocol.
For an in-depth look at the Media Network & Livepeer integration, please check out our detailed developer documentation at: https://docs.media.network/livepeer-about.
Livepeer is a scalable Platform-as-a-Service (PaaS) for startups and organizations looking to add live or on-demand video to their offerings. At its core, Livepeer is an Ethereum-based protocol for video transcoding, which refers to the reformatting of a video to suit a variety of bandwidths and devices. Designed to make streaming more reliable while reducing costs, Livepeer acts as a decentralized marketplace for developers building applications that integrate live video and transcoding providers.
About Media Network
Media Network is a protocol that foregoes traditional centralized CDN approaches and opts for a self-governed, community-powered alternative. We’ve created a decentralized bandwidth market that enables anyone to hire or provide resources from the network as the demand for last-mile content delivery fluctuates.