Theta: About $16/month earned by average user, 160 million micropayments processed, mainnet sessions 2 times longer, partnership with MovieBloc, Guardian node onboarding
Biweekly update 14th March — 28th March
This is not financial advice.
The Theta Network mainnet is now live following the launch of the project’s native blockchain and THETA and TFUEL token ecosystem. Now the team is focused on launching the Guardian Node onboarding program, the integration of Theta in the CJ Viewing TV box and other hardware applications, and the release of the universal edge cacher client. Exchanges continue to work on integration of the Theta mainnet. Gate.io and UPbit have completed this process. Theta engineering team is also working with Binance, OKEx, Huobi, Bithumb, DigiFinex, and HotBit to finish mainnet integration, but this is limited by the schedules and resources of each exchange and so they cannot offer a specific date for completion. Ledger and Trezor integrations are also in process. The team has announced their partnership with MovieBloc, a new decentralized movie and film distribution platform, powered by KMPlayer, the world’s #1 multimedia player with 812M downloads. MovieBloc will be incorporating Theta protocol and network at the core of their video content platform, which will be built on the Ontology blockchain infrastructure. And the last, but not the least — Theta community continues to grow, there is constant slight growth in Theta social media channels these weeks. The average session time of users watching Theta-powered channels. This is more than double the average session time on channels not using Theta, and shows how powerful token rewards can be as a user engagement mechanism.
THETA has 8 public repositories and 15 private repositories. Overall, the Project has frequent commits to the collection of repositories.
The Theta mainnet went live on March 15th, 2019 and has now been running strong for 13 days. It’s been great to finally see the blockchain in action and network users earning real TFUEL! The team working on a vehicle for regular public updates on network performance, but to start here are some key stats they wanted to share from the first 10 days of the Theta mainnet:
2.7 million: the number of on-chain transactions processed by the Theta blockchain in the first 10 days, each representing an average of 60 video segment micropayments. In total that means more than 160 million micropayments have been secured by the Theta blockchain.
31 TFUEL: the average number of TFUEL earned per user per day. At current TFUEL prices that’s about $16/month, more than enough to cover a typical video platform’s monthly subscription. (When the universal edge cacher launches later this year, superusers will be able to earn even more!)
38.5 minutes: The average session time of users watching Theta-powered channels. This is more than double the average session time on channels not using Theta, and shows how powerful token rewards can be as a user engagement mechanism.
What does this mean for the Theta Network?
The Theta mainnet blockchain, block explorer, and wallet have been successfully launched. The team is first focused on launching the Guardian Node onboarding program, the integration of Theta in the CJ Viewing TV box and other hardware applications, and the release of the universal edge cacher client.
From a platform adoption standpoint, once mainnet integration is complete, Theta partners like MBN, CJ Hello, Samsung VR, and Pandora.tv can now offload up to 60% of their bandwidth costs and share the benefits with their users. With an average user earning $16 worth of TFUEL per month or more, that’s enough to pay for a monthly subscription to premium MBN content, or several movies on CJ Hello. Users get rewarded and platforms increase their subscriptions and revenues, creating a virtuous cycle where all stakeholders get rewarded for using the Theta Network. As platforms adopt the Theta mainnet, this will create demand for TFUEL used to reward users.
Other integration info
Exchanges continue to work on integration of the Theta mainnet. Gate.io and UPbit have completed this process, and users can deposit and withdraw their mainnet Theta Tokens and Theta Fuel. Theta engineering team is also working with Binance, OKEx, Huobi, Bithumb, DigiFinex, and HotBit to finish mainnet integration, but this is limited by the schedules/resources of each exchange and so they cannot offer a specific date for completion.
Ledger and Trezor integrations are also in process. If you are holding your ERC20 Theta Tokens on either of these, you can either wait for Ledger/Trezor to support the Theta mainnet, or if you are comfortable with the technical side of crypto, extract your hardware wallet’s private key and import the address into the Theta web wallet.
If you missed the March 12th token swap deadline, please email Theta team at email@example.com. As long as you have the private key to the address that held your Theta Tokens at that time, you can recover your Theta Tokens + Theta Fuel on the mainnet.
- Total capitalization of TFuel is 75% of Theta original token capitalization that means that TFuel distribution Theta project market capitalization increased by 75% with the introduction of the second token.
With Theta Network’s mainnet launch, Binance Research has released an in-depth report about Theta’s new end-to-end infrastructure for decentralized video streaming.
Binance has completed the Theta Network (THETA) mainnet swap. Deposits and withdrawals for THETA are now open. Additionally, withdrawals for Theta Fuel (TFUEL) are now also open. For further information refer to: Binance Has Completed the Distribution of the Theta Fuel (TFUEL) Airdrop.
The THETA mainnet upgrade has been completed. The TFUEL has also been distributed to users at the ratio of 1:5 (THETA: TFUEL) according to users’ THETA balance. Please check your account here. Stay tuned for additional exchange updates on TFUEL and Theta deposit/withdrawals.
- Release Theta wallet for Android OS, Apple iOS, web (completed)
- Transition majority of SLIVER.tv streamers and channels to the Theta infrastructure (in-progress)
- Launch Theta Mainnet on March 15th
- Complete Theta token swap based on snapshot of existing ERC20 Theta tokens on Ethereum blockchain (1:1)
- Complete Theta Fuel distribution to existing Theta token holders (1:5)
- Update Block Explorer
- Release Guardian Node Onboarding Program light client
- Beta release universal edge cacher client
- Launch 3rd party Validator partner program
- Enhance Mesh Streaming Network scalability
- Enhance Blockchain scalability
- Launch Developer tools for Theta mainnet integration
- Beta release Android mobile SDK integration with initial partners
- Launch support for video on demand (VoD) in Theta Mesh Streaming Network
- Launch guardian node functionality and onboard initial group of community-run guardian nodes
- Beta release support for Android-based set-top boxes and smart TVs
- Introduce guardian nodes into the validator node set on rotating basis
- Launch smart contract support
- Expand Theta content delivery beyond video to support all forms of data (e.g. file updates, game patches, video ads, audio/music, etc)
Partnerships and team members
MovieBloc will be incorporating Theta protocol and network at the core of their video content platform, which will be built on the Ontology blockchain infrastructure.
MovieBloc’s mission is to decentralize the film industry to create an ecosystem with transparent rewards catered to the participants’ role and contribution. Participants will experience a new ecosystem by taking upon the role of a creator, curator, translator, reviewer, or viewer. Creators will get transparent revenue share, audience data, and equal screening opportunity; while viewers will access various film content and earn Theta Fuel rewards. In the long-term, MovieBloc aims to create the biggest and most participant-centric film ecosystem. By leveraging KMPlayer’s massive user base as distribution, MovieBloc and and Theta mesh network have the potential to reach millions of global users, and drive significant video bandwidth cost savings.
Theta CEO Mitch Liu will also serve as an advisor to the MovieBloc project. In addition to his experience in decentralized video delivery and esports industry through Theta and SLIVER.tv, Mitch also completed his undergraduate research at the MIT Media Lab, where his senior thesis focused on non-linear movies and interactive cinema.
- Additionally, Theta team recently began collaborating with IoTeX, a leading project at the intersection of IoT and blockchain.
Their teams originally met back in July 2018, when they jointly hosted a Korea meetup with their friends at Zilliqa, Quantstamp, and Kyber Network. Now after the Theta mainnet launch, the projects are discussing the many ways they can leverage their respective blockchains and domain expertise to drive adoption of their protocols.
Active Reddit discussions:
How Can Blockchain Technology Improve Video Streaming? on DGaming: Video traffic will account for 82% of all Internet traffic by 2022. Can Theta make video streaming better?
The Theta mainnet is now live on Coinrivet: Theta has just released the mainnet version of its new “multi-level Byzantine fault tolerant” consensus algorithm blockchain.
Social media metrics
Theta community continues to grow. There is constant slight growth in Theta social media channels these weeks.
Official Telegram group — Discussions on testnet, price, possible partnerships, etc.
Facebook — 15–25 likes per publication, 1–5 shares.
Twitter — Average number of retweets is 35–40 for one post.
Bitcointalk.org — since November 23rd, 2017. Discussion on mainnet launch, price, roadmap. Last publication — on March 24th, 2019.
There is a slight growth in Theta community over time. The graph above shows the dynamics of changes in the number of Theta Reddit subscribers, Twitter followers and Facebook likes. The information is taken from Coingecko.com. Twitter stats gone to 0 due to a new twitter account.