Theta Network is a next-generation video delivery platform with blockchain technology. It aims to decentralize video streaming by utilizing a global computer network. Currently, content delivery networks (CDNs) are paid to deliver streaming video content, but they are limited by their locations and struggle to keep up with high-quality streams. Theta cryptocurrency allows users to stream videos and rewards them for utilizing their spare bandwidth and computing resources.
Theta operates on a blockchain and has two native cryptocurrencies: THETA and TFUEL. THETA is used for voting on protocol changes, while TFUEL is used for executing transactions. Both validator and guardian nodes participate in the consensus mechanism, which is a modified Byzantine Fault Tolerance (BFT) mechanism. Validator nodes must wager a minimum of 10,000,000 THETA, while guardian nodes only need to wager 100,000 THETA.
Theta was founded in 2017 by Mitch Liu and Jieyi Long. The advisory board includes Steve Chen and Justin Kan, who are co-founders of YouTube and Twitch, respectively. Theta conducted a private token sale, raising $20 million from the sale of 30% of its THETA cryptocurrency.
Theta Mainnet 3.0 will introduce two innovations to the Theta protocol. Users will be able to bet TFUEL tokens on edge nodes to upgrade to elite edge nodes, and recording engines will be introduced for TFUEL tokens. Theta also has its own wallet app for securely holding and wagering THETA and TFUEL tokens.
Theta Network has partnerships with various companies and platforms, including YouTube, Twitch, Rakuten Viki, and Samsung VR. Users can earn TFUEL tokens while watching content on THETA.tv, a global streaming platform. Theta Network also introduced Theta Edgecast, the first decentralized video streaming dApp built on the Theta blockchain.
Theta Network’s THETA and TFUEL tokens can be bought on cryptocurrency exchanges such as Binance, Bybit, and OKX. Storing THETA and TFUEL can be done securely using the Theta Wallet app or integrated with Ledger and Trezor hardware wallets. Theta Network has also developed a token minter and a block explorer called Theta Explorer.
In conclusion, Theta Network is revolutionizing video streaming by utilizing blockchain technology and incentivizing users to share their spare bandwidth. With its innovative features and partnerships, Theta Network has the potential to disrupt the media industry.