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THETA cryptocurrency is a decentralized video delivery network with its own blockchain, designed to stimulate channel sharing. Video delivery networks currently suffer from poor distribution in less developed countries, costly installation, and a centralized device. In addition, Theta considers the existing infrastructure unprepared for the growing demands that it will face due to the growing implementation of 4K, 8K, virtual reality, and other advanced developments.
Theta was an ERC-20 coin based on Ethereum-blockchain. Now it works on its own mainnet. Theta creates a peer-to-peer (P2P) mesh network that aims to solve these problems using the blockchain, which serves as an incentive layer to maintain the continuous high performance of the delivery network. Let’s find out together with Changelly, who is behind this project and how the cryptocurrency environment will affect the price of a coin.
Theta Fundamental Value
Theta cryptocurrency consists of two parts. The first is a video delivery network. It is formed from nodes that join the network and provide their bandwidth. This network forms the actual decentralized delivery of video. The second part is the Theta blockchain. It exists to promote incentives so that participants can join the delivery network. Theta creates a P2P mesh network of users who share their bandwidth. The result should be a global network that replaces or complements the existing CDN infrastructure.
Users can provide their devices as caching nodes that transmit video streams to any viewer in the world. A caching node is a node in which video data is stored. Since the Theta network will have far more caching and relay points than the current system, stream quality will improve. This is due to the fact that video packets will not need to travel that far. Caching nodes will be rewarded with Theta tokens.
Theta blockchain’s goal is to serve as a consensus link for payments and rewards in the ecosystem. It is important to know that video files are not stored in the blockchain. This would not be possible due to data requirements. The blockchain is fully open, and the team hopes that developers will create and post their own Dapps on the blockchain.
Theta cryptocurrency uses an aggregated signature scheme. This means that the guardian nodes, instead of sending their signatures to all the other nodes, send them to neighboring nodes. This process continues, spreading signatures in much the same way a virus would spread in a pandemic.
|Consensus Protocol||PoS + BFT + Aggregated Signature Gossip Scheme + Resource Oriented Micropayment Tool|
|Curr. Supply / Total Supply||870,502,690 THETA / 1,000,000,000 THETA|
|ATL / ATH||$0.040310 / $0.314425|
|ROI since launch||-24.30%|
Theta Price History
In 2015, the Silver.tv platform was founded. Further, the project was well funded, and meanwhile, a video streaming transfer platform was launched. In 2017, the closed sale of THETA tokens started. In the same year, tokens were integrated into the Silver.tv platform.
Speaking about the Theta Network team, it includes specialists in the field of streaming broadcasting with experience of more than 30 years, as well as highly qualified employees in the field of blockchain technology, digital assets, strategic and technological advancement.
Among the partners, you can notice such big names as Samsung and Sony, and among advisers such personalities as Steven Chen, co-founder of YouTube and Justin Chan, co-founder of Twitch.
The ICO ended on January 4, 2018, and the project managed to raise the planned amount of $20,000,000. The initial cost of the THETA token was $0.1117 A total of 750 million coins were issued. According to CoinMarketCap, THETA cryptocurrency was listed on 01/17/2018 and the initial price was $0.15.
The first highest price was fixed in February 2018, when Theta team released their blockchain. The token price doubled to $0.22.
On May 16, the price of the token increased again when Theta joined the Ethereum Alliance:
The value of the coin was backed up by adding to the listing at Binance.
The all-time highest price of $0.314425 was fixed on Jan 27, 2018, when Theta signed a partnership with Aelf.
Theta Technical Analysis
Well, there is not actually any technical analysis expertise of Theta cryptocurrency. However, here is the aggregate rating for THETA from several traders & analysts on TradingView.
Theta Community Reputation
Theta team, advisors and partner list is impressive. The team consists of 14 people, as well as many blockchain and media consultants. The team is led by CEO and co-founder Mitch Liu, who also co-founded the streaming video site SLIVER.tv, as well as Gameview Studios and Tapjoy. The second co-founder is Jieyi Long, who also co-founded SLIVER.tv and also holds a Ph.D. in computer science from Northwestern University. SLIVER.tv is a video game streaming service similar to Twitch, and one of the main pillars in Theta’s infrastructure.
Users are most interested in the Theta project. There is a review from one Reddit user, who likes the idea:
If we compare 2 charts: Google trends and price history, then we can see that the price of a coin practically does not depend on the popularity of the request:
What to expect from Theta in late 2019 and 2020
There is no much information about Theta cryptocurrency in crypto influencers’ social profiles. We found only one blurred price prediction from a trader. The CryptoDog user, popular crypto trader, says that THETA is going to raise its price:
Trading Beasts website gives us a positive perspective on THETA price prediction. By the end of the year coin price will be around $0.1427843. At the beginning of 2020, the price will continue to drop at around $0.12203. By the end of 2020, the coin price will recover to $0.131.
However, we should understand that THETA is an unstable coin, like every crypto on the market. The price of all altcoins mostly depends on the Bitcoin price trend. Considering the future positive trend in THETA, we can highlight several advantages:
- The Theta project has some prominent investors as Samsung Next and Blockchain
- The project is fully funded up to 2021
All these cons can make the coin price stable and lead to success. But there is a lot of things to do. The team needs to develop a p2p content distribution network (CND) which is not quite improved now.
Theta’s answer to the current challenges of scaling content delivery is certainly fascinating. Its unique approach to the p2p mesh network, which is stimulated and protected by a high-bandwidth blockchain. If the development is successful, Theta can certainly be a very popular solution. Speaking about the potential of the project, it is important to mention 2 crucial questions: can the Theta cryptocurrency support the decentralization of its blockchain and the constant quality of its mesh network?
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.