RATE Group | 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

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

Posted at 21:46h in Ethereum News by

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By the end of this year, GPU miners could have a fresh new way to earn crypto without any opportunity cost.

Decentralized video-streaming startup Livepeer debuted its Streamflow testnet on Tuesday, and miners and developers are working with the company to test video transcoding using idle chips already built into graphics processing units (GPUs).

“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. “They are sitting there doing absolutely nothing.”

In other words, if a mining farm is mining monero, it can keep doing that. Once Streamflow goes live on the ethereum mainnet, however, 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…

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