What is Theta network?

The Theta network was created by Theta Labs. This project aims to use blockchain technology to provide Decentralized peer-to-peer video delivery for online video streaming.

A paid peer-to-peer network allows users to share any type of content and data and computing resources on a global scale

The Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. For a project that was launched in the first quarter of 2019, the journey to the elite range has shown how sustainable the network's offering has been and its adoption by investors around the world.

The difference between Theta network and traditional audio and video

At present, the traditional streaming media industry mainly relies on content delivery network (CDN) to transmit and deliver content. In order to allow global subscribers to access content in a timely manner, most of the web traffic on the market such as Facebook, Netflix, and Amazon have set up multiple CDN server base stations around the world.

However, the expensive construction cost of building server base stations and the very expensive cost of using CDN make CDN one of the main pain points of streaming media transmission today.

The theta network was created to solve this pain point in the traditional audio-visual market.

The Theta network can reduce the load on the content distribution network by placing certain content on Theta's blockchain network.

Thereby reducing the bandwidth cost of content distribution.

Dual Token mechanism

In order to pay for data transmission, theta network uses an operating pass called TFUEL. This has a similar function to the gas fee on Ethereum. Streaming media platforms will encourage users to share video content in the form of rewarding Tfuel tokens.

The Theta Fuel (TFUEL) currently has a circulation of 5,270,590,400 TFUEL, with a market value of up to $1,990,333,036.

Another token of Theta Network is called THETA. This is a governance token. Users can participate in THETA governance and obtain benefits. It aims to help the community manage the Theta blockchain and control its future development direction.

The total supply of THETA Token is fixed at 100 billion, and the current market value is as high as $12,677,420,955.

Operating mechanism

By encouraging users to share their idle computer memory and broadband resources, they become the cache node of the streaming media platform, thereby effectively solving the problem of low performance of the traditional streaming media industry's distribution network and controlling its operating costs. In order to motivate more people to participate, the Theta network will reward theta token to assist the video platform to attract viewers, increase revenue, and provide different content and viewing experience.

Viewers earn rewards as Theta Fuel, For sharing excess bandwidth and resources, viewers earn rewards as Theta Fuel to participate in the network

Where should we go in the future?

In the near future, Theta Network will be upgraded to its Mainnet 3.0. This will upgrade the network and provide some benefits

Theta’s Mainnet 3.0 launch, which was previously anticipated for this April, has been pushed back to June 30, 2021.

Theta Mainnet 3.0 will feature Elite Edge Nodes and TFUEL staking and burning.