Livepeer is a decentralized video streaming infrastructure protocol founded in 2017 by Doug Petkanics and Eric Tang. Operating on the Ethereum blockchain, Livepeer aims to make video streaming more accessible and affordable by distributing video transcoding tasks across a global network of independent computers. This approach significantly reduces costs compared to traditional centralized data centers.

The core service of Livepeer is decentralized video transcoding, which converts video files into various formats and quality levels suitable for different devices. This process utilizes thousands of GPUs contributed by node operators worldwide, achieving cost reductions of up to 50 times. Livepeer also offers API access for developers to integrate live or on-demand video streaming into their applications without the need for costly infrastructure. Additionally, the platform features a decentralized marketplace that connects video transcoding providers and developers, fostering a secure and scalable video streaming ecosystem.