Theta is a piece of software designed to encourage a worldwide network of computers to run a decentralized video streaming platform.
Today, end-users pay content delivery networks (CDNs), which are geographically distributed networks of operators, to provide video stream content. Existing CDNs are unable to keep up with the increased demand for high-quality streaming due to geographic constraints.
About Theta
Theta is a local cryptocurrency with an open-source protocol, which means that, like Ethereum, allows developers and partners to create decentralized apps on the network.
It’s a blockchain-powered decentralized peer-to-peer video distribution network that allows for free, high-bandwidth content transmission. Users’ computational power is used to transmit videos to other users as they view them, with the primary users earning tokens as a reward.
The Theta Network aspires to be the next generation of entertainment technology by offering a decentralized video streaming network that is less expensive than centralized platforms. Users power the peer-to-peer video delivery platform, which offers a variety of content genres such as e-sports, movies, TV shows, and music.
What is Theta [THETA]?
Theta (THETA) is a blockchain-based network that was created specifically for video streaming. Theta mainnet, which went live in March 2019, is a decentralized network where users exchange bandwidth and processing resources on a peer-to-peer (P2P) basis. Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch, are advising the initiative.
Theta has its own native cryptocurrency token, THETA, which is used to execute different governance duties inside the network. Enterprise validators include Google, Binance, Blockchain Ventures, Gumi, Sony Europe, and Samsung, as well as a Guardian network of thousands of community-run guardian nodes.
According to the project’s creators, the initiative intends to shake up the video streaming market in its current state, where centralization, bad infrastructure, and high expenses result in a terrible user experience. Due to the obstacles between content providers and end-users, content creators also make less money.
Who Are the Founders of Theta [THETA]?
Mitch Liu and Jieyi Long are the cofounders of Theta, and they established THETA in 2018. Liu has a lengthy background in the gaming and video sectors, having co-founded video ad business Tapjoy, mobile social gaming startup Gameview Studios, and THETA.tv, a live-streaming network whose DApp was the first to use the Theta protocol.
Long is the company’s second co-founder and CTO, with a background in design automation, gaming, virtual reality, and large-scale distributed systems. He has many peer-reviewed scholarly articles to his credit, as well as patents in the fields of video streaming, blockchain, and virtual reality.
Theta now has a small team, and its official website outlines key organizational shareholders such as Samsung NEXT and Sony Innovation Fund, as well as media investors such as BDMI Bertelsmann Digital Media Investments and CAA Creative Artists Agency, as well as traditional Silicon Valley VCs such as DCM, Sierra Ventures, and the VR Fund.
What Makes Theta Unique?
Theta’s principal business idea is to decentralize video streaming, data transport, and edge computing, allowing industry participants to be more efficient, cost-effective, and fair.
The internal economy is powered by two native currencies, Theta (THETA) and Theta Fuel (TFUEL), which run on a native blockchain.
Theta’s attraction is threefold: consumers benefit from a higher-quality streaming service, content creators make more money, and intermediaries – video platforms — save money on infrastructure while increasing advertising and subscription income.
TFUEL tokens are rewarded for watching network content and sharing network resources, so users have the interest to do both.
As with many proof-of-stake (PoS)-based blockchain ecosystems, the platform is open source, and token holders acquire governance privileges.
Developers wanting to deploy decentralized apps (DApps) using Theta’s fully featured EVM-compatible Smart contract platform, in addition to video, data, and compute, are catered to.
Where Can You Buy Theta [THETA]?
THETA, the Theta platform’s primary token, is freely trading on major exchanges. Cryptocurrencies, fiat currencies, and stablecoins are among the available pairs. Binance has the most volume pairings as of October 2020, with stablecoin Tether being the most commonly traded currency (USDT).
Frequently Asked Questions
How Is Theta Secured?
Theta has a financial incentive mechanism to encourage user engagement in governance activities, and its network is thereby protected by its own users.
To optimize security and high transaction speed, the network uses proof-of-stake (PoS) and a multi-level Byzantine Fault Tolerance (BFT) consensus method.
Are there any quick ways to buy Theta [THETA] in Europe?
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
On what factors does the price of the Theta [THETA] Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact THETA price and market cap.
Theta Official website – https://www.thetatoken.org/
Theta Twitter – https://twitter.com/Theta_Network
Theta Reddit – https://reddit.com/r/theta_network