Theta Network: Fundamentals, technicals, tokenomics and future outlook discussed
What is Theta Network?
Theta Network is a next-generation video and entertainment blockchain that is powered by individuals. To understand Theta better and what it is, we have to first get to know the live streaming sector and the problems associated with it. Today’s live streaming platforms are centralised, and they have multiple issues associated with them, some of which include:
- Centralised CDN’s with poor quality: Content delivery networks that are used in streaming today lack reach and cause issues related to loading times.
- Revenue Sources: Since the platforms are decentralised, the end-user and content creator does not receive enough rewards.
Theta Network is solving these issues by creating a peer-to-peer native blockchain that users power. This is done by a variety of methods that allow viewers to earn revenue, allow for higher quality content and reduce the cost of video streams.
How Does It Work?
The theta network leverages a group of validators that are well-known organisations like Samsung, Google, Blockchain ventures, Sony and many other enterprises. These nodes propose and produce new blocks in the blockchain. There are also guardian Nodes, nodes run by the theta community that check on the active functioning of the validator nodes. Like any other blockchains, the Theta Network allows multiple specialised Dapps to be built by video platforms/content providers.
The theta network also incentivises users to share the computing power and bandwidth of their devices as a relay node and receive TFuel in return. The platform has allowed for incentives to viewers, validators, and content creators through this.
Tokenomics
Theta follows a dual token design which includes Theta and TFuel. Theta, the native token has the following utility attached to it:
- Contribution to block production by staking
- Governance of Theta Network
Growth and Future Outlook
The Theta network has seen significant adoption since its private sale in 2018. Having validators like Google has further improved their outlook and has brought positive attention to the platform. The open-source platform now has Theta.TV, Samsung VR, Cinedigm, Playlabs offering services in Esports, VR content, Broadcasting, and music sectors. This is set to grow in the future as Theta brings a unique perspective to the streaming problem and has its own niche. Theta networks 2022 roadmap has many interesting aspects, such as the TDrop token and increased focus of NFT’s that should add value in the future.
Theta, the native token of Theta Network has been up 351.4% since the beginning of the year, while TFuel has been up 1074% over the same duration.
Buy THETA & TFUEL on BitYard today!
Purchase THETA, TFUEL and over 300 other cryptocurrencies on BitYard today! Click here for the detailed guide on how to purchase cryptocurrencies in BitYard.
About BitYard:
Founded in late 2019 and headquartered in Singapore, BitYard is a leading global cryptocurrency derivatives exchange. As one of the fastest-growing exchanges, BitYard has continuously optimized and upgraded the platform and has brought many quality trading services to users worldwide. With the new corporate slogan “Grow Your Future in the Yard” BitYard will continue to help investors around the world to achieve their goals through providing one-stop financial trading services.
If you enjoyed reading this article, make sure you follow us on our medium page to stay updated for more exciting content! As usual, none of this information is financial advice, and you should do your own research before investing in any of these projects mentioned in this article.
