What is Theta? Theta Network Review

Theta Network – is a decentralized video content streaming platform that rewardsits users with cryptocurrency.

Internet users love video streaming services.This is confirmed by the popularity of YouTube, Twitch, Live.ly and additions to streaming videos on Facebook and Twitter, as well as the increasingly popular Tik Tok.

However, the videos are as good as the infrastructure that comes in.in the homes of real users, and sometimes it can be slow and cause frequent delays, repeated buffering and intermittent streams.

Theta Token team proposed a solution to this problem using decentralized blockchain technology.This led to the creation of the world's first decentralized streaming network (DSN).

The team supporting Theta Token has more than thirty years of experience in video streaming.It includes advisers like Steven Chen, the co-founder of YouTube, and Justin Kahn, the co-founder of Twitch.

Theta Network uses an open source protocol designed to decentralize streaming services.In addition, Theta Network's exclusive character provides narrower features such as peer-to-peer streaming, live sports, education, conference calls, television and movies.

How does Theta work?

TheTa blockchain network uses the Proof-of-Stake consensus mechanism, which has high transaction bandwidth.

To solve the Theta scalability problemdeveloped a resource-based micropayment pool and a Proof-of-Engagement protocol to track the delivery of video fragments. The record proves that viewers actually watched the video in real time. This is a means of providing transparency for advertisers, as well as a means for users to earn Theta tokens in exchange for watching videos. 

Proof-of-Engagement protocol is essential to reliably measure viewer engagement. The distribution and collection of rewards on the platform is handled by a special type of streaming smart contracts.

Smart Streaming Contracts

Smart Streaming Contracts – These are a type of smart contracts or incentive contracts used to facilitate the distribution and collection of rewards.

There are several options for using smart streaming contracts, including:

 ▪ Advertisers reward streamers and viewers;

 ▪ Viewers present awards to streamers;

 ▪ Gift contracts for several streamers;

 ▪ Premium or paid video content;

 ▪ Subscriptions to streamer content or decentralized content networks;

 ▪ Streamers can share rewards with viewers.

How Theta token works

THETA tokens, created according to the ERC-20 standard, were launched in December last year. 

Theta tokens are used as a reward on the network.

In addition, the network operates an auxiliary tokenTheta Fuel (TFUEL) – Theta Network payment token. It was created similar to the “gas” used on the Ethereum network. TFUEL supports on-chain transactions such as paying relays to share a video stream, or deploying or interacting with smart contracts.

Relayers earn TFUEL for every video stream they relay to other users on the network. Together with Theta, these two tokens make up the Theta Network's economic system.

Network members

There are a lot of stakeholders and nods that help support the Theta Token ecosystem.The network was created with five major stakeholder groups:

 ▪ Streamers/Influencers – These are content producers. They are rewarded with Theta tokens for their contributions.

 ▪ Spectators – users whocome to SLIVER.tv to watch video content. They are rewarded for watching and interacting with videos, and may also receive rewards for viewing advertisements.

 ▪ Advertisers – they use the platform to promote services and products and spend Theta tokens to buy advertising time on the network and sponsor influencers.

 ▪ Caching nodes – These are computers and servers that provide caching services to the network to improve the quality and delivery of the video stream. They are also awarded Theta tokens.

 ▪ Reception nodes – these are computerswhich help in providing different bitrates, stream resolutions, etc. They provide their services to caching nodes for live streams and get rewarded for it.

Instead of holding a public ICO, Theta Token's team held a private sale, during which $12 million was raised.The price of the token before the sale was 0.15 U.S. dollars.Today Theta is trading $0.72.

Purchase and storage of THETA and TFUEL 

Almost all Theta and TFUEL trading volume occurs on Binance, although small volumes are also traded on OKEx, Huobi, Upbit and Bitrabbit. 

Theta's own wallet was released just days before the launch of the main network.On March 9, 2019, Theta announced the release of its own web wallet, which can be used for both THETA tokens and TFUEL.Those who prefer greater security can choose Trezor or Ledger hardware wallets.

There are also several third-party wallets that support the THETA and TFUEL, including Trustwallet and Atomic Wallet.Theta Labs has also released mobile versions of Theta's wallet for Android and iOS.

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