Theta Network is a revolutionary blockchain-based platform designed specifically for video streaming. Launched in 2019, it operates as a decentralized network where users share bandwidth and computing resources on a peer-to-peer basis. The aim of Theta Network is to disrupt the video streaming industry by addressing its current issues such as centralization, poor infrastructure, and high costs.
Theta Network was co-founded by Mitch Liu and Jieyi Long in 2018. Liu has a long history in the gaming and video industries, while Long brings his extensive experience in design automation, gaming, virtual reality, and large scale distributed systems. The project is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch. Corporate investors include Samsung NEXT, Sony Innovation Fund, and several traditional Silicon Valley VCs.
Theta Network operates on a dual token system. The primary token, THETA, is used for governance tasks within the network. The secondary token, Theta Fuel (TFUEL), powers the internal economy. The total supply of THETA is capped at 1 billion tokens, while TFUEL has a total supply of 5 billion tokens.
THETA, the main token for the Theta platform, is available for trading on major exchanges. The most popular trading pairs include cryptocurrencies, fiat currencies, and stablecoins, with the highest volume pairs being on Binance.
Theta Network has a wide range of applications. Viewers get rewarded with better quality streaming service, content creators improve their earnings, and video platforms save money on building infrastructure and increase advertising and subscription revenues. Users are incentivized to both watch network content and share network resources, as rewards come in the form of TFUEL tokens. The platform also caters to developers looking to launch decentralized applications (DApps) on its fully featured EVM-compatible Smart contract platform.
Theta Network continues to make strides in the video streaming industry. The list of Theta Network partners includes video platforms like Samsung VR, Cinedigm, Shout! Factory, Pandora.tv, Play Labs, and THETA.tv. The platform is open source, and token holders receive governance powers as with many proof-of-stake (PoS)-based blockchain ecosystems. Theta Network is also secured by its own users, employing a multi-level Byzantine Fault Tolerance (BFT) consensus mechanism to balance security with high transaction throughput.
Theta Network has been making waves in the entertainment industry with a series of high-profile collaborations. Pop star Katy Perry is launching a non-fungible token (NFT) collection on Theta's NFT marketplace, ThetaDrop. Similarly, Samsung has partnered with Theta Network to release commemorative NFTs to celebrate its Galaxy S22 and S8 models. Online poker platform partypoker is also launching a debut NFT collection in association with Theta Labs.
In recent Theta Network news, the network has released Theta Video API, a new product for developers that allows them to add decentralized video to any website or application. This is a significant step towards bringing Web 3.0 to the masses. Theta Wallet version 3.1.2 has also been released, containing fixes that will allow Trezor users to successful sign transactions.
Theta Network price has seen some volatility recently, with both significant gains and drops reported. Despite these fluctuations, the network's total value locked (TVL) experienced a 122% increase in February, reaching $212 million. This suggests that despite short-term price changes, the overall value and utility of the network are growing.
Looking at Theta Network news today, the platform is showing promising signs of growth and expansion. With new partnerships, technological developments, and a growing user base, Theta Network is poised to make a significant impact in the decentralized video streaming and NFT marketplace. If you're wondering where to buy Theta Network, it's available on various cryptocurrency exchanges.