advertisement<\/small><\/p>\n Livepeer, a decentralized video streaming platform built on the Ethereum blockchain, has raised $20 million in a Series B extension round.<\/p>\n Alan Howard and Tiger Global participated in the round, along with existing investors such as Digital Currency Group, Northzone, and Warburg Serres. There was no lead investor in this round.<\/p>\n The Series B extension round comes just five months after Livepeer raised $20 million in Series B funding<\/a>. The new round is also an equity round and brings Livepeer’s total funding to date to around $51 million, its co-founder and CEO Doug Petkanics told The Block.<\/p>\n With additional capital in place, Livepeer plans to expand its market share. Petkanics said the project has a large scaling update scheduled for shipping early this year called Confluence, which will move Livepeer’s internal protocol from Ethereum’s base layer to the Layer 2 network Arbitrum.<\/a> This will also keep the Livepeer token (LPT) and core security mechanism anchored to Ethereum.<\/p>\n The scaling update “will enable cost-effective participation for our supply-side node operators and token holding delegators,” said Petkanics.<\/p>\n In the future, Livepeer also plans to expand its capability across the media value chain, including video NFT support. Livepeer is a decentralized platform for transcoding videos \u2014 the process of converting a video from one file format to another.<\/p>\n![](\"https:\/\/www.tbstat.com\/wp\/uploads\/2021\/12\/IAB-Banner_450x450-1.png\")
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