How Theta Blockchain is the Best Option for Video Streaming?
Theta Blockchain is a good option for video streaming. This blockchain aims to decentralize video on demand and video streaming.
If you are looking for a blockchain for video streaming, the Theta blockchain is a good option. Let us explore this topic.
Internet users have been inclined to video and video streaming services. With the popularity of Twitch, YouTube, Live.ly, and the addition of videos to Twitter and Facebook, Tik Tok is a witness to viewers’ trends.
As per the estimates of the networking hardware company Cisco, more than seventy-five percent of the internet bandwidth is used for video streaming. This percentage is expected to reach eighty-two percent in the next few years.
This blockchain network encourages the users to share their unused bandwidth and memory to enhance the overall network. This initiative would lead to better performance of blockchain all over the globe.
#Theta Token Technology
#Proof-of-Stake consensus mechanism is adopted for the Theta blockchain network. The advantage of this consensus mechanism is that it needs less computational capacity and higher transaction throughput than Proof-of-Work protocols. It is possible to use many devices acting as caching nodes and viewers.
Theta blockchain has developed a Resource Oriented Micropayment Pool to handle the scalability issue. To track the delivery of video segments, they have adopted Proof-of-engagement for implementing something. Smart contracts handle the collection and distribution of rewards on the platform.
Let us now discuss the terms mentioned earlier in detail.
- Resource-Oriented Micropayment Pool: Theta Token has developed a Resource-Oriented Micropayment Pool for off-chain payment pools so that users can withdraw off-chain. They offer more flexibility than other off-chain solutions due to the design of resistance for double-spending. The most significant use of this solution ensures greater scalability with microtransactions off the blockchain.
- Proof of Engagement: This protocol gives information about the number of viewers that have watched a live video. This information helps provide transparency for advertisers and users to earn Theta tokens in return. This protocol is considered a reliable benchmark to measure video stream engagement and a secure way for advertisements and users to earn Theta tokens for their attention.
- Smart contracts for streaming: Smart contracts facilitate reward collection and distribution. Many kinds of smart streaming contracts are used in the Theta network. Examples are viewers gifting rewards to streamers, advertisers rewards for viewers and streamers, premium or paid video content, subscription to decentralized content networks or streamers’ content, and cachers can share rewards with content streamers and viewers.
Validators design the smart streaming contracts that ensure that the original entity or person funding the agreement does not get involved with validations or distribution.
Network Participants:
- Viewers: The viewers consume the video content on THETA.TV. Viewers are the most critical part of a video streaming network.
- Advertisers: To promote the products and services, advertisers spend using Theta tokens to buy the advertisement time and sponsor influencers.
- Streamers/influencers: Streamers are the content producers in the network who create live videos and content for later consumption. The reward is given in the form of Theta Tokens.
- Caching Nodes: The caching services are provided by the computers and servers to enhance the video stream’s quality and delivery. The reward is also given in the form of Theta Tokens.
- Ingest Nodes: Various stream resolutions and bitrates are assisted by the nodes.
Working of Theta Blockchain:
Theta users use the Ethereum ecosystem based on an ERC-20 compliant decentralized video delivery network. ERC-20 tokens leverage the security and deal with various wallets, games, and DEXs. To improve the stream quality, Theta leverages the efficiency and safety of Ethereum.
Theta Tokens: Theta network governs the Theta Tokens and provides a lot of functionalities to the users. The users can utilize these tokens as Guardian or Validator nodes to participate in the protocol’s governance and produce blocks. At this point, 1000000000 tokens are in circulation, which is also the total number of tokens.
Theta Blockchain: Theta blockchain’s design has end-to-end infrastructure for decentralized video delivery and stream. This feature permits maximum functionality by reducing the cost of the content delivery network.
Theta.Tv: Users can use the Theta.tv to view and post the videos. Samsung galaxy has announced to include this Dapp.
But where to buy Theta:
BitPanda: For the residents of Europe, BitPanda is the best option. But it does not process the transactions for non-Europeans.
Binance: The best option for Canada, Singapore, the UK, and Australia is the Binance platform.
Gate.io: For USA residents, it is the best exchange
Easy Crypto: This regulated exchange is the best for New Zealand, Australia, and South Africa.
Conclusion: In the 21st century, video streaming is expected to increase many folds, and the Theta blockchain is a promising option for video streaming. This blockchain platform is planning to launch a general streaming platform in addition to streaming videos. If you want to know more, please comment in the box below. Team Blockchain Shiksha would be happy to solve your queries.
