Theta Network (THETA) – One Of The Web3 Coins Worth Investing

Web 3.0 is a “new wave” in the blockchain market, making investing in web 3.0 coins more noticeable. Theta Network and THETA could be an option worth considering. The following article will introduce you to the Web3 project that is receiving much attention from the community for investment consideration.

What is Theta Network?

Theta Network is a decentralized video transmission & distribution network built on blockchain technology since March 2019. Theta network was created with the purpose of providing smooth, high quality live video streaming without the high technology costs of users.

Theta Network is the Open Source Platform: An open source network and protocol for all developers and partners building on the Theta network.

With Theta Network, you can stream live videos of shows, sports, gaming or sales as you like. Or you can real-time transcode, cache, and forward live video data to users globally without a central server or service, all by the Theta community. manage.

Not only that, viewers of Theta videos also receive a reward of TFuel – a Theta network token used for transaction activities on Theta such as paying for Edge Node forwarders to share video streams, deploy, interact with smart contracts. If you watch the video on youtube, you will not get anything, but in Theta, you can get TFuel and then change it into money if you want.

Theta mainnet was released in March 2019 with a decentralized peer-to-peer network that allows users to share bandwidth and computing resources. Before the company was founded in 2018, about $20 million was raised from a private token sale before the company was founded in 2017.

Its founder Mitch Liu has extensive experience in the video game and video streaming industries. At that time, the token was established as an ERC-20 token on the Ethereum network and used for various activities. Theta developers expect the network to revolutionize the video streaming industry.

Mode of operation

Theta native token (THETA) is a governance token that runs on the Theta network. These tokens help secure the blockchain chain and are used to provide users with a variety of features.

Theta Fuel (TFUEL) on the other hand are tokens given to users who watch live streams on the network (with excess bandwidth used to share the backbone stream with other viewers).

TFUEL works like Ethereum Gas and is responsible for the interaction with smart contracts in the Theta network. The more viewers in the network share content with other viewers, the more tokens they can earn. In addition, airdrops take place regularly, with users being issued tokens for performing various tasks.

Like all other blockchain networks, Theta is open source and token holders have the same governance rights as any other Proof-of-Stake (PoS) systems. Developers can also develop DApps on Theta’s own smart contract platform.

Problems that the network wants to solve

• Eliminate 3rd parties that store users’ videos: like traditional video platforms, users will store their videos at the storage centers of companies such as Youtube, Facebook, tiktok… As for Theta , it is the users in the THETA network who will host these videos.
• The problem of royalties: when using a traditional centralized video platform, royalties are paid very low and are managed by the company providing the service. With THETA, this money will belong to the users of the network and will be divided equally that everyone agrees.
• Controlled content: traditional video channels will have the ability to delete user-generated videos, but with Theta’s Blockchain technology, no one has the right to delete any videos on THETA network.
• Video throughput: THETA is striving to become a global decentralized Video distribution network, helping users anywhere can watch videos in the fastest way with the highest quality.
• Video quality: Theta aims to provide a solution to watch videos up to 4k or 8k, not just 360, 720, HD as it is now.

Technology that THETA applies

• Multi-BFT Consensus: the new BFT consensus mechanism allows thousands of nodes to participate in the consensus process and supports very high transaction throughput.
• Aggregated Signature Gossip Scheme: reduce the time to send complex messages, reduce the cost of communication.
• Resource-Oriented Micropayment Pool: purpose-built for video streaming, allowing users to create an off-chain micropayment pool that any other user can withdraw from using off-chain transactions and is resistant to double spending. It is much more flexible than off-chain payment channels.

What is THETA coin?

THETA coin is the governance token of THETA Protocol, used to contribute as a Validator or Guardian node, contributing to the block production and protocol governance of Theta Network. Basic information of THETA token:

• Transaction code: THETA
• Blockchain: THETA
• Total supply: 1 billion THETA
• Circulating Supply: 1,000,000,000

What is unique about THETA coin is that the supply of Theta has been fully circulated from the very beginning. Theta network has a dual token design, in addition to THETA, there is also TFUEL (Theta Fuel) with a payment function to share or interact with smart contracts, you can understand TFUEL as GAS fees in Ethereum.

You can earn TFUEL for relaying videos to other users on the Theta network or watching videos on the platform.

Why can it be said that THETA is a good investment?

• The development idea of THETA is quite good and it has also been put into practice with positive results.
• Steve Chen, co-founder of YouTube, is an advisor to Theta
• Cooperation with many famous brands such as Google, Sony, Samsung, CAA, DHVC, Binance, Blockchain Ventures…
• Theta has a dedicated team of developers and a solid foundation
• As one of the leading video distribution networks on blockchain
• Users can make money from creating video content, providing computer memory for storing, transmitting videos and even watching videos through THETA.
• The global video streaming market is expected to continue to grow strongly in the coming years. With video streaming sites like YouTube continuing to create additional barriers for content creators (such as content guidelines), the need for a quality video streaming platform barrier-free will continue to rise. This is where Theta can come in and close the gap.

However, besides the advantages, THETA also has some points to overcome that investors need to consider:

• THETA initial token distribution is not sold to the public so it is questionable for decentralization.Web 3.0 is a “new wave” in the blockchain market, making investing in web 3.0 coins more noticeable. Theta Network and THETA could be an option worth considering. The following article will introduce you to the Web3 project that is receiving much attention from the community for investment consideration.
• THETA is basically a governance token for the entire Theta network and this token is staked by Guardian and Validator nodes. However, these Validators must be approved by Theta Labs, which the current THETA holders are mainly initial investors.
• There is also another token, called TFUEL, which acts as the main medium of exchange on the network, users receive a reward of TFUEL instead of THETA, which also reduces the value of THETA.
• Competing with very strong competitors, when users are used to it, it is very difficult to change user habits.

Conclusion

Above are the shares about Theta Network. THETA is a 3rd generation platform that supports both smart contracts as well as decentralized applications (DApps). Theta combines blockchain with video streaming with the aim of decentralizing it along with video on demand, consolidating it into a single ecosystem on the Theta platform. A real-life project that makes live video streaming and video data transmission faster, higher quality, cheaper, and community-managed with no intermediaries.

However, there are still some limitations that investors need to consider. Of course, like any investment, there are certain levels of risk. You should only invest enough in what you can control.

Hope the article is useful to you. If you have any suggestions, please leave them below in the comments section to make our article better.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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