Theta Network is a blockchain project that builds today’s only end-to-end infrastructure for decentralized video transmission and distribution, providing both technical and economic solutions in march 2019.

What is Theta Network?

Theta (THETA) is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. The project is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

Theta features its own native cryptocurrency token, THETA, which performs various governance tasks within the network, and counts Google, Binance, Blockchain ventures, Gumi, Sony Europe, and Samsung as Enterprise validators, along with a Guardian network of thousands of community-run guardian nodes.

How does it work?

The problem

• Poor Quality

Today’s content delivery networks (CDN) lack reach, causing video re-buffering, and high load times in many parts of the world.

• Skyrocketing data needs

Users demand 4k, 8k, and higher quality streams create an infrastructure bottleneck.

• A centralized and inefficient system

The centralized nature means less revenue flows back to content creators and platforms.

The solution

Theta’s blockchain network is based on a peer-to-peer (P2P) protocol that allows participants to be rewarded with real-time payments for content distribution. The network also allows developers to build DApps on top of its open-source blockchain protocol.

• Viewers earn rewards as Theta Fuel: For sharing excess bandwidth and resources, viewers are now rewarded to participate in the network.
• Higher quality, smoother video streaming: A decentralized peer-to-peer network delivers streams efficiently globally.
• Reduced cost of delivering video streams: Video platforms no longer need to build expensive infrastructure, means more innovation and unique business models.

Theta uses the POS (Proof of stake) consensus mechanism, which is based on staking. That means the participants lock a large amount of THETA tokens in order to have the power to process blocks of transactions.

Outstanding features

Technical advancements

• A new, native blockchain purpose-built to power decentralized video delivery.
• Ground-breaking technology includes Multi-BFT Consensus, Aggregated Signature Gossip Scheme, and Resource-Oriented Micropayment Pool.

Streaming ecosystem

• Theta works as a long-term sustainable incentive mechanism to motivate all stakeholders to participate in video delivery, fully decentralized.
• Theta is the only end-to-end platform. New blockchain. Next-generation peer-to-peer architecture.

Roadmap

Read more: Click Here