All Livepeer Protocol Functionality Has Moved to Arbitrum, which Offers Faster Transactions and Lower Costs
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. All Livepeer protocol functionality has moved to Arbitrum, which offers faster transactions and lower costs for Livepeer broadcasters, orchestrators, and delegators.
After nearly 6 months of research and development and the approval of LIP-73, the Livepeer Network successfully began its migration to Arbitrum.
As Ethereum mainnet gas fees rose, it became clear that the high-fee environment made it challenging for Network participants to operate effectively and profitably. Orchestrators will immediately feel the impact of Arbitrum’s speed and radically lower gas price, which will help foster a much more efficient marketplace and smoother experience.
While they’ve focused primarily on cost savings, this order-of-magnitude reduction in costs will enable new and exciting opportunities for both orchestrators and delegators. In the coming months, Livepeer Network core contributors will pursue additional improvements to the protocol, Explorer, and video pipeline that help orchestrators and delegators create and optimize their strategies.
Orchestrators should take action to migrate their stake prior to February 21
As of today, orchestrators will not receive fees or inflationary rewards on the Ethereum mainnet; instead, all fees and rewards will be paid on Arbitrum. All orchestrators are strongly encouraged to migrate their stake to Arbitrum prior to February 21. Orchestrators who do not migrate will be at risk of losing delegators to orchestrators who have migrated.
Delegators will be able to claim their stake after February 21
Following a 7-day delay, delegators will be able to claim their LPT stake and any earned ETH fees on Arbitrum.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Author
News
All Livepeer Protocol Functionality Has Moved to Arbitrum, which Offers Faster Transactions and Lower Costs
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. All Livepeer protocol functionality has moved to Arbitrum, which offers faster transactions and lower costs for Livepeer broadcasters, orchestrators, and delegators.
After nearly 6 months of research and development and the approval of LIP-73, the Livepeer Network successfully began its migration to Arbitrum.
As Ethereum mainnet gas fees rose, it became clear that the high-fee environment made it challenging for Network participants to operate effectively and profitably. Orchestrators will immediately feel the impact of Arbitrum’s speed and radically lower gas price, which will help foster a much more efficient marketplace and smoother experience.
While they’ve focused primarily on cost savings, this order-of-magnitude reduction in costs will enable new and exciting opportunities for both orchestrators and delegators. In the coming months, Livepeer Network core contributors will pursue additional improvements to the protocol, Explorer, and video pipeline that help orchestrators and delegators create and optimize their strategies.
Orchestrators should take action to migrate their stake prior to February 21
As of today, orchestrators will not receive fees or inflationary rewards on the Ethereum mainnet; instead, all fees and rewards will be paid on Arbitrum. All orchestrators are strongly encouraged to migrate their stake to Arbitrum prior to February 21. Orchestrators who do not migrate will be at risk of losing delegators to orchestrators who have migrated.
Delegators will be able to claim their stake after February 21
Following a 7-day delay, delegators will be able to claim their LPT stake and any earned ETH fees on Arbitrum.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Other Posts
Related Posts
Latest
Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak
Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)
Press Release
Best Crypto to Join in November 2024 – Why Now’s the Time to Invest
2024’s Best Crypto Investments: Top Crypto Coins Set to Explode (Experts Advice)
