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.
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.
Today’s content delivery networks (CDN) lack reach, causing video re-buffering, and high load times in many parts of the world.
Users demand 4k, 8k, and higher quality streams create an infrastructure bottleneck.
The centralized nature means less revenue flows back to content creators and platforms.
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.
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.
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