What is the Theta Blockchain?
The Theta blockchain is a purpose-built decentralized video delivery network and cryptocurrency. This innovative platform provides both technical and economic solutions to the problems facing the streaming sector. As such, the Theta blockchain was designed to incentivize the sharing of bandwidth across the network. Specifically, users gain the opportunity to contribute their excess bandwidth and computing resources in exchange for token rewards.
What does Theta wanted to solve?
Their platform’s layout eliminates the bottlenecking of traditional content delivery pipelines. This issue is known as the “last-mile” issue by professionals. It’s a major concern for high-resolution high bitrate 4k, 8k, and next-generation streaming platforms.
THETA and TFUEL: Use Cases
This is the governance token of the Theta protocol. THETA can be clocked and act as a validator or guardian node. It is used to validate or produce blocks in the PoS algorithm and is involved in the Theta Blockchain’s governance. The maximum number of THETA is limited and has been set at 1,000,000,000 tokens. We’ll get to the breakdown in a moment.
Theta Fuel, as the name suggests, is the fuel of the Theta Blockchain and is thus in part comparable to the “gas” on Ethereum or NEO. TFUEL serves as a means of payment for transactions, such as setting up caching nodes or interacting and creating smart contracts. However, it can also be earned, for example, by staking THETA or by providing caching power to other users or interacting with the Theta.tv platform.
Theta.tv is the network’s main streaming service. Users can view and post their videos from here. Impressively, this Dapp is set to be included on future Samsung Galaxy phones. The integration will put Theta software on 75 million existing devices. Consequently, this move would give Theta a worldwide user base moving forward.
What are the benefits?
– 12 Validator Nodes, 395 Guardian Nodes, and 1726 Edge Cacher Nodes.
– On-chain TPS between 500+ TPS and 10,000+ TPS for rewarding
– bandwidth sharing through off-chain micropayments
– Low transaction fee under 1 TFUEL per transaction
– 6 seconds block time
– Block size of up to 8,192 transactions per block
– Mainnet Start 2.0 with Guardian Nodes and Smart Contracts
Overall, theta blockchain streaming is most likely to meet the demands of tomorrow. Theta seems to fill a critical specialty in the area. Accordingly, there is a developing interest for this token in the market