Decentralized disruption is coming for video streaming and Theta Network aims do it with an innovative new blockchain and the TFUEL token
The Theta Network is a decentralized video content delivery network, powered by users on an innovative new blockchain – next generation video delivery powered by you.
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What is Theta Network?
Theta Network is the leading video delivery protocol powered by blockchain and aiming to become critical infrastructure for video and data delivery worldwide.
The Samsung and Sony-backed network wants to make it cheaper and faster for companies to share video content.
“Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams. I’m excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs.”– Steve Chen, Co-Founder of YouTube
Theta Mainnet 3.0
Theta Mainnet 3.0 introduces two protocol innovations. With the introduction of TFUEL staking and burning, the native asset will have more appeal. This will also add a cost for using the Theta Edge network. The other upgrade is the Elite Edge Nodes enabling “Uptime Mining” and is a step toward tokenizing internet bandwidth. Read the Theta Mainnet 3.0 whitepaper here.
With THETA.tv apps already live and a demo done on a Samsung Smart TV – and Theta Mainnet 3.0 launching June 30, 2021, the next evolution of decentralized data delivery and disruption is already here!
The THETA and TFUEL tokens
Those who participate in Theta Network get paid for sharing video content to other users. The video sites pay for this service, rather than the end-user.
The network uses TFUEL token to pay for data being streamed. When someone shares video content, the streaming site pays them in TFUEL tokens.
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Theta Network also has a governance token called THETA that will allow the community to manage the Theta blockchain. Community governance is limited at this point, but the project plans to hand over more control in the future.
The Centralized Problem
Today, content is centralized and can be very slow. So, video sharing websites use multiple servers known as a content delivery network (CDN). It’s also very expensive to pay for a CDN. This is where Theta Network steps in with a decentralized solution.
Theta Network’s Decentralized Solution
Theta Network cuts the cost and reduces the CDN load by putting some of it on Theta’s peer-to-peer network. It’s somewhat like BitTorrent, where many users share a small portion of the same video to someone else that wants to watch. All those small streams are put together on demand and that user also begins sharing – and gets paid in TFUEL for sharing the content.
ThetaDrop NFT Marketplace by Theta Network
It only makes sense that Theta would launch an NFT marketplace as sports leagues and entertainers are finding the value of increased viewer participation with the introduction of NFTs.
ThetaDrop is a next-generation NFT marketplace and is launching with the World Poker Tour – with other branded partners to be announced soon. As a real-time NFT marketplace, ThetaDrop incorporates live streaming during auctions and NFT drops to increase fan engagement with tie-ins to live television and cable broadcasts to millions of global viewers.
Theta Network has partnered with some big names in crypto to offer exclusive NFTs with added value – special invitations, private zoom calls, charity donations, and more!
Theta is trailblazing to redefine critical infrastructure in the next generation of video and data delivery. With backers like Samsung, Sony, and Google – and the launch of Theta Mainnet 3.0, they are well on their way to disrupting today’s streaming industry much in the same way YouTube did to traditional video.