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28 May 2020

Livepeer Prepares to Unlock New Way for GPU Miners to Earn Crypto

Livepeer Prepares to Unlock New Way for GPU Miners to Earn Crypto


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Livepeer Prepares to Unlock New Way for GPU Miners to Earn Crypto.

“The millions of GPUs out there that are mining cryptocurrency, ethereum, zcash, grin, monero, they have video encoding on those chips that can’t hash cryptocurrency,” Doug Petkanics, Livepeer’s founder, explained to CoinDesk in a phone call.

Once Streamflow goes live on the ethereum mainnet, the GPUs in that farm will be able to also earn both ETH in fees and Livepeer’s LPT token in block rewards for using the currently untapped video transcoders.

“For miners, it’s additional revenue that comes at almost no opportunity cost,” he said, something Livepeer has been promising for some time now.

People who hold Livepeer’s LPT tokens can delegate them to network participants to earn more crypto and provide security to the network.

Petkanics acknowledged that miners who join the testnet now won’t earn any returns for doing so

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