What is Theta Network($THETA)?
The Theta Network and protocol attempts to solve various challenges the video streaming industry faces today. First, tokens on the Theta blockchain are used as an incentive to encourage individual users to share their redundant computing and bandwidth resources as caching or relay nodes for video streams. This improves the quality of stream delivery and solves the 'last-mile' delivery problem, the main bottleneck for traditional content delivery pipelines, especially for high resolution high bitrate 4k, 8k and next generation streams.
Second, with sufficient network density the majority of viewers will pull streams from peering caching nodes, allowing video platforms to significantly reduce content delivery network (CDN) costs. More importantly, by introducing tokens as an end-user incentive mechanism Theta Network allows video platforms to deepen viewer engagement, drive incremental revenues, and differentiate their content and viewing experience from their competitors.
Theta features its own native cryptocurrency token, $THETA, which performs various governance tasks within the network, and counts Google, Binance, Blockchain ventures, Gumi, Sony Europe, and Samsung as Enterprise validators, along with a Guardian network of thousands of community-run guardian nodes.
What is unique about Theta Network ($THETA)?
Theta’s main business concept is to decentralize video streaming, data delivery, and edge computing, making it more efficient, cost-effective, and fair for industry participants. The network runs on a native blockchain, with two native tokens, known as Theta ($THETA), and Theta Fuel ($TFUEL), powering the internal economy. viewers get rewarded with better quality streaming service, content creators improve their earnings and middlemen — video platforms — save money on building infrastructure and increase advertising and subscription revenues. Users have an incentive to both watch network content and share network resources, as rewards come in the form of $TFUEL tokens.
The platform is open source, and token holders receive governance powers as with many proof-of-stake (PoS)-based blockchain ecosystems. In addition to video, data, and computing, Theta caters to developers looking to launch decentralized applications (DApps) on its fully-featured EVM-compatible smart contract platform.