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What about Theta?
Theta is a decentralized peer-to-peer video delivery network powered by users and an innovative blockchain. The network supports an incentive-based system that rewards users for sharing their idle bandwidth and resources. Moreover, the network allows users to earn rewards in THETA tokens for watching, sharing, and engaging with video content. Aiming to address the global video streaming market, Theta provides an alternative to such platforms as YouTube, Amazon Prime, etc.
The network utilizes a novel consensus mechanism called Proof of Engagement (PoE). It enables users to earn THETA tokens by providing their surplus resources, such as bandwidth and storage, to the network.
Theta also has a native video streaming protocol called Theta Video Delivery Network (Theta VDN). Theta VDN is a fully decentralized P2P network that delivers video streams to users with minimal latency.
In the video streaming and eSports industries, the network has partnerships with such major companies as Samsung, ASUS, HTC, G FUEL, and more.
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Theta Network (THETA) Overview
The Theta Network is a blockchain technology that focuses on media, AI, and entertainment. It offers a next-generation Web3 infrastructure that allows media and video platforms to generate more revenue and lower content delivery costs. Users can earn rewards by sharing their storage or bandwidth on various devices, like PCs, phones, Smart TV sets, or IoT (Internet of Things) devices.
Theta also supports smart contracts and is compatible with Ethereum, opening up possibilities for a range of Web3 applications to be developed on the network. These include non-fungible tokens (NFTs), decentralized exchanges (DEX/DeFi), and decentralized autonomous organizations (DAOs) which are crucial in shaping the future of media and entertainment.
Big names like Google, Samsung, Sony, and others lead Theta's enterprise validator and governance council. The network has millions of viewers and partnerships with major companies like Lionsgate and NASA. Popular platforms, like Samsung VR and World Poker Tour, are already integrated with Theta's infrastructure.
The Theta Network includes two main components – the Theta Blockchain for payments, rewards, and smart contracts, and the Theta Edge Network for storing and delivering media assets, such as images and videos.
View the live price of THETA on the interactive chart above. Changelly is a reliable crypto price tracking service to access the current Theta Network price, its live market capitalization (market cap), 24-hour trading volume, and recent price change.
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What Problems Does the Theta Blockchain Solve?
Theta aims to use blockchain technology to address quality and efficiency issues in the traditional video streaming industry, such as centralization, poor infrastructure, and high costs, which often result in a mediocre experience for end users and inadequate compensation for content authors.
The Theta Network seeks to revolutionize the video streaming industry by leveraging a distributed network where user contributions are properly incentivized.
Importantly, the Theta Network must not be considered decentralized YouTube or a decentralized Twitch. Instead, Theta is the underlying blockchain and decentralized storage/delivery system for the next-gen Web3 video streaming and media entertainment platforms.
How Does Theta Work?
Theta is a blockchain that employs a decentralized network of nodes to distribute and streamline video content. On the Theta platform, users share bandwidth and computing resources in a peer-to-peer manner for crypto rewards.
The Theta Network seeks to reduce the operating costs of streaming video services by shifting content to the peer-to-peer network that is operated by thousands of nodes. This makes the network resilient to content delivery speed failures and solving the problem of digital last-mile delivery.
The overriding goal of the Theta Network is to decentralize video streaming, data delivery, and edge computing, making it more efficient and fair for industry participants. The Theta community consists of the following participants:
Content Creators. They can earn THETA tokens by sharing their video content on the network, receiving rewards based on the engagement their content generates.
Advertisers. They can reach targeted audiences more effectively by promoting their brands on the Theta network, using THETA tokens to pay for ads. This can help reduce costs on building infrastructure and increase advertising and subscription revenues.
Viewers. They consume video content and can earn Theta tokens by watching ads on the Theta platform. Viewers also benefit from a better quality streaming service thanks to the decentralized nature of Theta's network.
Nodes. They support the Theta Network by sharing their computing power and bandwidth to help relay video streams efficiently. In return, they receive rewards in THETA tokens for their contributions to the network's infrastructure.
What Is the Theta Blockchain?
The Theta Network is a specialized blockchain created specifically for the media and entertainment industry. It uses a unique multi-level BFT (byzantine fault tolerance) consensus. It is a two-tier consensus mechanism involving Enterprise Validator Nodes and community-run Guardian Nodes for security.
Validator Nodes propose and confirm new blocks, while Guardian Nodes validate and secure them. This setup ensures high security levels comparable to other Proof of Stake (POS) chains like BSC, Solana, and Polygon. The presence of thousands of Guardian Nodes adds an extra layer of security.
Some big names like Google, Samsung, and Binance operate Enterprise Validator Nodes on Theta. Since the launch of Theta 2.0 in May 2020, the number of Guardian Nodes has increased significantly to over 3,500. This model makes the Theta Network decentralized and capable of processing 1,000 transactions per second with minimal environmental impact.
Theta Edge Network
Aside from the Validator and Guardian Nodes, Theta community members operate Theta Edge Nodes, creating the Theta Edge Network. An Edge node enables users to capture, transcode, and relay live video content, while sharing bandwidth globally without relying on centralized servers. This network, currently expanding to over 130,000 nodes globally, serves as the foundation for Theta's P2P (peer-to-peer) content-sharing ecosystem.
The Edge Network provides a technological foundation for EdgeCast, a decentralized video streaming dApp through which users earn rewards via THETA tokens for sharing videos. This decentralized application is also incorporated into THETA tv, a live streaming platform built on the Theta protocol.
Another flagship product is the Theta Metachain. It acts as a network of interconnected blockchains, enabling scalable and rapid transaction processing with block finalization times as low as 1-2 seconds. Comprising a primary "main chain" and multiple "subchains," the system is EVM-compatible, utilizing TFuel as the gas token for seamless user and developer interactions.
By leveraging Theta, costs are reduced, and new content creators can thrive without relying on tech giants, creating a level playing field for all sizes of platforms. This API streamlines the creation of a decentralized video platform, offering an end-to-end solution for encoding, delivery, and playback.
Smart Contract Capabilities
The Theta blockchain also supports Turing-complete smart contracts to launch decentralized applications.
Leveraging smart contracts on Theta allows for digitized item ownership, innovative payment models, transparent royalties, trustless crowdfunding, and more, enhancing social and economic interactivity.
The Theta Virtual Machine is EVM-compatible. It means Ethereum smart contract developers to transition to Theta.
What Are Native Theta Tokens?
The Theta Network operates as a dual token system.
THETA is the network’s primary native token that serves various governance tasks and is used for staking.
THETA holders can vote on proposed modifications to the Theta protocol, thus determining the future direction of the project.
Validators and Guardian nodes also stake THETA tokens in the network’s modified Proof of Stake (PoS) consensus protocol. Users who participate in consensus receive TFUEL tokens as a reward.
The digital asset has fixed max supply of 1,000,000,000 THETA coins, with the total supply of 1 billion being already released into the circulating supply. This means new Theta tokens will not be ever created.
What is the price of the Theta Network today? Our interactive chart gives the answer! Take advantage of our THETA-USD price chart to access the latest Theta Network market statistics. This essential data may assist you in creating a more accurate THETA token price prediction.
To check live THETA price in the desired fiat currency, you can use our crypto converter tool provided above.
Theta Fuel (TFUEL) Token
Theta Fuel (TFUEL) serves as the operational token for on-chain activities, such as payments and smart contract interactions. The TFUEL token increases annually, with 5 billion TFUEL tokens initially at the Theta blockchain's start. Theta Labs announced Theta 3.0 in December 2020, introducing new concepts like TFuel staking and burning to enhance network capacity and utility.
What is the Theta Network Team?
The Theta Network launched in 2016. The founders are Mitch Liu and Jieyi Long who joined efforts to establish Theta Lab, a technology company developing the Theta blockchain and streaming video services.
The Theta Network team is comprised of seasoned experts with extensive knowledge in blockchain development, large scale distributed systems, gaming, and video industries. With backgrounds in companies, such as Netflix, Amazon, Samsung, Vimeo, and Salesforce, the team at Theta Labs is guided by experience to drive Theta to become the leading blockchain platform for media and entertainment.
Led by CEO Mitch Liu and CTO Jieyi Long, the team's collective expertise in blockchain, video, streaming, VR, and NFTs positions them as innovators in the field, focusing strongly on delivering cutting-edge solutions for the industry.
View the current price of THETA and the price history of the Theta Network coin via our chart. Access the lowest price and the highest price paid for the THETA token, along with the average price the crypto asset is traded today at.
What Is the THETA Price?
The cryptocurrency exchange Changelly offers an interactive THETA-USD price chart that updates in real time. You can instantly see the current Theta Network price, as well as the current market cap (market capitalization), 24 hour trading volume, and other vital metrics of the THETA market performance.
Our Theta Network THETA price prediction, that is based on the fundamental and technical analysis of the crypto project, can provide valuable insights for your investment decisions when considering buying or trading THETA coins. However, it's important to conduct your research and stay updated on the latest crypto news, as our forecast is not financial advice. The price of Theta Network tokens and other crypto currencies can experience significant and rapid fluctuations.
Along with displaying the real-time THETA price, our platform is also the best place to buy THETA coins for fiat money or swap THETA for other digital assets like Binance Coin, Shiba Inu, or Bitcoin Cash.
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