RATE Group | Livepeer Wraps Up Merkle Mining, Frees Ethereum Bandwidth
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Livepeer Wraps Up Merkle Mining, Frees Ethereum Bandwidth

04 Oct Livepeer Wraps Up Merkle Mining, Frees Ethereum Bandwidth

Posted at 08:41h in Ethereum News by

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The token distribution approach increased Ethereum gas usage in the past two months, but in most cases, gas fees remained reasonable.

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Livepeer, the video transcoding service based on the Ethereum network, has finished the “Merkle mining” process of the LPT digital asset. The token creation and distribution took up bandwidth on the Ethereum network, burning up to 30% of gas.

However, on most occasions, the LPT distribution did not create a gas bidding war, and prices for Ethereum transactions remained reasonable. A gas bidding war happens when users aim to pass their transaction before all others and are ready to pay higher fees.

Livepeer announced the results of its token distribution, which included the requirement for network participants to fuel it by using the Ethereum network:

https://twitter.com/LivepeerOrg/status/1047523767122087936

The Livepeer network uses a model of participation in which a selected group of 15 transcoders can provide video services and receive…

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