Theta Network
Theta is a decentralized user-managed video delivery network, powered by users, that runs on a dedicated blockchain (Theta Network). Its value proposition is to reduce the costs of content delivery network costs by efficiently creating a mesh network with shared content. First launched as an ERC-20 token, Theta has been running its main net since March 2019 after raising $20 million through a private token sale in 2017.
Theta blockchain tokens are used to encourage individual users to share their idle computing resources and bandwidth such as caching or relay nodes for video streaming. By incorporating Theta into an existing video stack, video platforms can reduce delivery costs while increasing viewer interaction. Also, Theta-enabled video platforms can form the basis of user success that can help increase market share.
The co-founders of Theta Network are Mitch Liu and Jieyi Long. Theta Labs is the company behind Theta Network. Hosted by CEO Mitch Liu and Jieyi Long and has its own streaming site, Theta.tv, which pays viewers on TFUEL, the native token of Theta Network to watch video content.
Theta token and blockchain were announced on Medium in November 2017. The first Theta token sale started in January 2018 with ERC20 tokens on Ethereum. Theta Network launched its own 1.0 main net in March 2019. In May 2020 with Main Net 2.0 being released, Theta Edge Node Network has been enhanced with the release of Theta's "EdgeCast" P2P network. In July 2021 Theta released Main Net 3.0 by adding smart contract capabilities, the project hopes to significantly increase platform user engagement and retention.
Existing content delivery networks are unable to keep up with quality and are outdated due to rapidly changing industry requirements for high-quality streams and geographic restrictions. Theta was developed to solve these fundamental problems.
Theta Network is not intended to replace YouTube or the live-streaming platform Twitch. Instead, it seeks to provide new infrastructure for such businesses that are not only decentralized but much cheaper.
The Theta Network is a fast, inexpensive, and proof-of-stake blockchain network suitable for small transactions. This could enable real-time payments to content creators.
· Enterprise Validator Node: The network has a limited number of verification nodes that together form a verification committee. These nodes have powerful computing resources that can process transactions at the highest speed and at the lowest possible cost.
· Guardian Node: The Guardian Node downloads and evaluates a series of blocks generated by the verification committee and attempts to reach a consensus. These nodes are large, which helps to improve performance and network security.
· Edge Node: Edge Node is the latest addition to Theta Network. Users can contribute excess bandwidth or computing power to the Theta Network and get rewarded with TFUEL.
· Validator nodes or Guardian nodes can hold THETA tokens and can earn TFUEL as a reward.
· THETA is the governance token of the protocol, so it represents the voting right in protocol decisions, development, and more.
· TFUEL is used as a "gas" for Theta protocol and is used to pay for smart contract transactions.
· It is also a currency of microtransactions so that users can pay for links to shared videos.
The total supply of tokens issued was 1,000,000,000 and their allocation was as follows: · Private sale tokens constitute 30% of the total token supply · Team received 7.49% of the total issued tokens · Advisors were given 1.23% of the total issued tokens · Partners were allotted 12.5% of the total issued tokens · Network Seeding received 12.5% of the total issued tokens · Lab Reserves were allotted 36.28% of the total issued tokens
DATE NEWS/EVENTS IMPACT 07/05/2022 TerraUSD and LUNA both collapsed, and as a result, a number of crypto platforms folded in the aftermath -45% Decrease 20/07/2021 Theta sees an increase in price ahead of its main net being launched on 25th July +40% Increase 25/03/2021 Theta postpones its main net 3.0 to June -30% Decrease 22/05/2020 Samsung Galaxy phones will bring crypto-enabled esports broadcasts to millions +55% Increase
The Theta Network project solves some of the real-life problems with a decentralized distributed content delivery network. In addition, its edge computing network is the next big jump the team has taken over.
The founding team seems to have the skills and experience for the mission they promise to do. In addition, they have many well-known organizations in terms of investors, partners, validator nodes, and media advisors. In addition to competing for the project, Theta has the potential to stay ahead in the race for innovation.
