Theta is an innovative new blockchain which is also decentralized video delivery network that is powered by users. Experts claim that the platform 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.
“We’ve been on the cutting edge of live streaming technology, and by leveraging blockchain we will truly be able to transform the video and entertainment industry,” said Mitch Liu, Co-Founder, and CEO of Theta Labs, Inc.
Protocol of Theta is open source. It is specially designed to power the decentralized video streaming networks. For the same purpose, Theta allows for vertical decentralized apps (DApps) to be built on top of the platform to enable e-sports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more.
Data delivered via streaming services rely upon a centralized server. This centralized system relies on having as broad a network of strategically placed servers as distributed as possible, to be geographically close to all the consumers of the content. Such a system starts developing connectivity problem when the data count is high, or the demand is high. Decentralization of the streaming technology introduces peer to peer network where all the users of the network agree to share their extra computational power and eliminate the connectivity and data issue presented in a Centralized System. Such a network is called Decentralized Streaming Network, or DSN.
When a Blockchain powers the DSN, it would not only solve the connectivity problem for the user but also enables tracking and rewarding those who participate in helping to deliver the content. Theta Labs, Inc. is one of the first platforms to launch a DSN where users are incentivized to share their excess bandwidth and memory resources in exchange for tokens. The Theta blockchain is, presently, the only end-to-end infrastructure for decentralized video streaming and delivery that provides both technical and economic solutions. End users are motivated to share bandwidth and storage resources by rewarding them with Theta, an ERC-20 complaint token.
Huffington Post states that “[Theta is] Just another example of how blockchain is reinventing business and changing the world.”
SLIVER.tv, a next-generation esports entertainment platform, launched a DApp powered by Theta recently and became the first application built on the Theta network leveraging the platform’s existing user base of millions of e-sports viewers.
As on Feb’2019, one Theta token is priced at $0.0461 and has a market cap of $32.55 million.