Launched in 2019, Theta is an innovative decentralized video streaming and delivery network. The network aims to establish itself as the blockchain-powered video delivery platform featuring decentralized streaming and token-based bandwidth sharing models.
Primarily the network rewards its global group of users with tokens, for sharing their spare bandwidth and computing resources in order to relay video to other users and keep the platform’s performance at sufficiently high levels at all times. The inclusion of a large number of participants in the ecosystem decreases the costs of delivering a quality video giving the ability for flexibility and innovation in managing revenue streams and content creation.
Theta Token (THETA) is the governance token of the Theta protocol. It was initially released as an ERC-20 token and since March 2019 it has been running on its main net. It is used to stake as a Validator or Guardian node, contributing to block production and the protocol governance of the Theta Network. According to the software’s rules, the total supply of THETA is fixed at 1 billion.
Within the Theta ecosystem, the viewers can use their tokens to reward the content creators directly. The intermediaries will be cut out from the process and the content creators will have to rely less on advertisers or third-party hosting websites. As this model also aims to reduce the overall costs of delivering video streams, the viewers would arguably spend less money for more content.
BFT consensus mechanism
Theta BFT is a mechanism that enables thousands of nodes to participate in the consensus process to speed up approvals and is, therefore, faster and more resource-efficient to execute communications.
Aggregated Signature Gossip Scheme
Aggregated Signature Gossip is a protocol that relies on a set of guardian nodes to keep a signature through the partial aggregation of signatures from its neighboring nodes, before communicating it to the rest of the network.
Theta network allows users to create an off-chain micropayment pool that any other user can withdraw from using off-chain transactions, which frees up more node processing power for the network’s core data storage, transcription, and network delivery purposes.
Peer-to-peer video delivery system
Theta is a decentralized peer-to-peer network that delivers streams globally in an efficient manner.
Open-source network & protocol
The Theta network is open to all developers and partners for volunteer contribution.
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