The Theta Network and protocol solves various challenges the video streaming industry faces today. First, tokens on the Theta blockchain are used as an incentive to encourage individual users to share their redundant computing and bandwidth resources as caching or relay nodes for video streams. Theta price is $0.10623834 with a 24-hour trading volume of $7,632,460.96 at the time of writing.
The Theta Network, a new blockchain and token as the incentive mechanism for a decentralized video streaming and delivery network.
Theta blockchain introduces three main novel concepts:
- Multi-Level BFT
- Aggregated Signature Gossip Scheme
- Resource Oriented Micropayment Pool
THETA is an open-source network that powers decentralized streaming. It mainly allows for decentralized apps (DApps) to be built on top of the platform. The network would make the coverage of e-sports and other video entertainment in an uninterrupted, high-definition, and seamless video streaming.
THETA has its own digital asset, which has a total supply of 1 billion, and a circulating supply of over 870 million. It is being traded in a variety of exchanges, with Binance leading the charge in terms of transaction volume. The platform was created by Mitch Liu and Jieto Long, along with a team which consists of experienced people from the video streaming field. THETA also has industry-prominent advisors from the biggest video streaming websites such as Youtube’s Co-founder CTO Steve Chen, and Twitch’s Co-founder Justin Kan.
- Viewers earn rewards as Theta Fuel
For sharing bandwidth and resources, a viewer can now earn Theta Fuel as a direct reward.
- High quality, smooth video streaming
A peer-to-peer decentralized CDN delivers streams efficiently throughout the world.
- Reduced cost of delivering video streams
Video platforms no longer need to develop expensive infrastructure, allowing for more innovation and unique business models.odels.
The THETA team took the responsibility to solve the challenges present in video streaming through the development and integration of a video streaming-oriented blockchain. THETA’s blockchain has been well-received by many related industries and even received investments from some of the big players in innovative technology funding such as Samsung, Sony Innovation Fund, and Bertelsmann Digital Media Investments. Additionally, gaming development giant Tencent Games partnered with SLIVER.tv to bring THETA rewards to Ring of Elysium players. SLIVER.tv is actually the first DApp built on the THETA Network. Through this, the video streaming blockchain was able to reach millions of e-sports enthusiasts.