Introduction to THETA
Theta is a purpose-built blockchain for decentralized peer-to-peer video delivery. Theta aims to provide cheaper, more decentralized entertainment than competing centralized ones.
Theta platform is powered by its users and offers multiple content types, including e-sports, movies, TV series, and music.The network and protocol are open-source, meaning anyone can build on the Theta blockchain. Content providers are able to develop decentralized applications which are specialized for their audience.The peer-to-peer video delivery platform utilizes two tokens:- Theta Token (THETA) is the governance token of the Theta protocol.
- Theta Fuel (TFUEL) is the operational token of the Theta protocol, or it can be thought of as the “gas” of the protocol.
With the Theta Network, viewers can simultaneously watch videos and earn tokens for relaying video streams to other viewers, and for their engagement with favorite content.
About THETA (THETA) token
Theta (Symbol: THETA) token is the ERC20 native token used to govern the Theta protocol. THETA token is designed to help manage the blockchain and its future development.
THETA token can be used for the following purposes:- Stake as a Validator or Guardian node;
- Contribute to block production;
- Govern the Theta Network;
- Run a node to earn a proportional amount of the new TFUEL generated as a reward.
There will be only 1 billion THETA ever created, and the amount will never increase.
The THETA ecosystem
The Theta blockchain is a P2P protocol for content distribution and transaction processing on the network.
Theta Network runs on a modified Proof-of-Stake (PoS) consensus mechanism known as Multi-Level Byzantine Fault Tolerance (BFT), which is quicker and more resource-efficient than conventional Proof-of-Work (PoW) networks. It is because this mechanism utilizes a small subset of nodes to speed up approvals.The Theta Network consists of three types of nodes.- Enterprise validator nodes: A small group of companies that propose and produce new blocks in the chain.
- Guardian nodes: Seal blocks and act as a check on malicious or otherwise non-functional Validator Nodes.
- Edge Nodes: Users who either share their bandwidth or relay video streams over the Theta network in return for TFUEL.
Who is behind THETA?
TeamTHETA was cofounded in 2018 by two experts in distributed video platforms:
- Mitch Liu (CEO): Liu has got BS in Computer Science & Engineering from MIT and MBA from Stanford Graduate School of Business. He has a wealth of working experience in the gaming and video industries.
- Jieyi Long (CTO): Long received Ph.D. in Computer Engineering from Northwestern University. He also has a deep insight into virtual reality, live streaming as well as blockchain field.
Investors
Theta Labs has raised a total fund of $113M via 5 rounds, with the latest funding round on Mar 23, 2021.
THETA project is currently supported by a number of featured investors including Sierra Ventures, IOSG Ventures, IBC Blockchain Capital, etc.Does THETA have a future?
Deemed a decentralized video streaming network, THETA enables participants all over the world to freely create, and share videos as well as get paid for video distribution.
THETA is also considered an optimal solution to common issues plagued by traditional video delivery platforms such as Youtube, Netflix, etc by offering low costs, high-quality videos, and a better user experience. Along with the explosion of blockchain technology and increasing demand for video sharing, THETA shows its potential to become one of the most-favored video delivery platforms in the upcoming future. Followed by the popularity of the THETA network, the value of the THETA token has experienced a light bounce, precisely $1.27 at the time of writing. Explore all the trending topics and hottest news in the crypto market with our Blogchain.Meanwhile, practice trading, play virtual money, and earn real tokens with CryptoSim - Virtual Trading Game.
Mason Thompson
