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.
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.
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
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
This website uses cookies.