Theta Network | Theta Network Crypto | Theta Coin Explained
270Theta Network | Theta Network Crypto | Theta Coin Explained
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Welcome to our Theta Network Video!
Livestreaming platforms have seen tremendous growth over the past decade, but the key hubs of livestreaming still operate in an extremely centralized manner. Due to the increased demand for both livestreaming software and decentralization, a number of new projects have decided to combine the art of livestreaming with blockchain technology. One such project is known as Theta.
With Theta, the centralized content delivery model controlled by the likes of YouTube and Twitch is replaced by a peer-to-peer (P2P) model. It’s sort of like comparing the more centralized file-sharing platform Napster to the more decentralized, Bittorrent-based file sharing that goes on today. In addition to decentralizing the base structure of livestreaming platforms, Theta also believes the P2P model can actually improve the quality of video streams. Additionally, Theta enables experimentation with a variety of new content monetization models that are made much more efficient through the use of a native cryptocurrency.
Let’s take a closer look at the overall Theta platform and the underlying THETA token that powers this potentially-exciting new venture.
Theta Token Overview
Internet users have a huge appetite for video and video streaming services. That’s been proven by the popularity of YouTube, Twitch, Live.ly and the video streaming additions to Facebook and Twitter, as well as the increasingly popular Tik Tok.
In fact, networking hardware company Cisco estimates that over two-thirds of today’s internet bandwidth is taken up by video streaming. That amount is expected to increase to 82% over the next 18-24 months.
While that’s all well and good, today’s video streaming is not perfect. Many video streams suffer from what is known as “last-mile” delivery problems. The Content Delivery Networks have created an infrastructure where large datacenters provide streaming services for specific geographic areas.
However, streams are only as good as the infrastructure that feeds into the actual users homes, and this can sometimes be slow and cause frequent lag, rebuffering and choppy streams.
Technology behind Theta Token
The Theta blockchain network is secured by a Proof-of-Stake consensus mechanism, which is far less demanding computationally, and has a higher transaction throughput when compared with Proof-of-Work protocols. By using PoS as the consensus mechanism it’s possible to have many different devices acting as viewers and caching nodes.
You might wonder how Theta Token is handling the issues of scalability in blockchain and video streaming. They have developed a Resource Oriented Micropayment Pool to solve scalability issues. In addition, they are implementing something called Proof-of-Engagement to track the delivery of video segments.
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The information contained herein is for informational purposes only. Nothing here shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
I hope you found value in our Theta Network video. Make sure to leave a like on the video if you gained value from it!
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⏰ TimeStamps ⏰
0:00 introduction
0:17 - Theta Network Explained
8:26 - Twitter 9:11- Recap