There is so much that can be accomplished using blockchain technology in all the various sectors of life. This can be associated with developments in healthcare, finance, education, governance, media and so much more.
The era of web 2.0 saw the beginning of the data economy where companies used their platforms to collate personal data from users without their consent.
This unfortunately constrained the users in ways that ensured that upon signing up to those platforms they must input their data, including but not limited to their email address, phone numbers, and date of birth, in order for them to have access to the platforms.
What is THETA?
Theta Network is a decentralized video streaming network service that is powered using blockchain technology.
This has made it possible for users to watch video content and get rewarded with tokens as they share their internet bandwidth and computing resources on a peer-to-peer (P2P) basis.
This platform is also a means of engaging users to participate in using video content to earn passive income in a more decentralized way based on the possibility of the features inherent in blockchain technology.
This innovative blockchain platform provides both technical and economic solutions (including monetization) to the associated problems facing the streaming sector.
A major essence of the platform’s layout was developed to eliminate the associated limitation of the traditional content delivery value chain.
How does Theta work?
Theta is developed using a modified proof-of-stake (POS) consensus mechanism as it has a unique multi-Byzantine Fault Tolerance (BFT), which requires a combined committee of 20-30 Validator nodes with a second layer of thousands of Guardian nodes in a decentralized method, such that the users are spread globally to maintain the network.
This also acts to speed up approvals and is faster than traditional proof-of-work networks. It is also noteworthy that Theta’s multi-BFT design achieves a healthy balance between consistency, speed, and decentralization.
The Theta Network Architecture is formidable to ensure content storage and delivery capabilities are properly powered by the first layer called the Theta Edge Nodes.
While the second layer involves the guardian and validator nodes, all have their various functions for the safety and security of the network.
However, as members of the community hold the Theta coin, they also serve as nodes to the ecosystem as well and can earn rewards (Theta fuel) by simply holding the Theta coin.
What are the benefits of Theta Blockchain?
The Theta blockchain grants users access to a global infrastructure for various video contents and data delivery on a wide spectrum of digital services.
The Theta open-source project provides an opportunity that supports the deployment of esports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more.
Additionally, the decentralized nature of the platform ensures that Theta is totally powered by users from their engagement.
The platform also supports the integration of vertical decentralized Apps by means of its scalability and interoperability. This involves developing applications that run on the Theta blockchain in a powerful way.
What are the other utilities for Theta?
Theta developers launched the Theta Token Minter which allows any user to create new TNT-20 tokens on the Theta blockchain with no smart contract experience required.
This is a great development as this makes it possible for both novices and experts to use the Theta blockchain creatively for the creation of their own token.
Therefore, users can input the token name, ticker symbol, and supply parameters of their new token and the Token Minter will mint the new tokens.
Consequently, it makes the whole process seamless and non-technical for the minting of tokens on the Theta blockchain. This invariably creates an opportunity for a wide range of DApps and assets to be built on the protocol.
There is also Theta.tv (which is the network’s mainstreaming service) deployed to enable users to have access to streaming services. It works simply like the conventional streaming platforms with the difference of granting the users the ability to get paid (monetization).
It has also been announced by the developers that the Dapp would be included on future Samsung Galaxy phones. This would invariably lead to the integration of Theta software on 75 million existing devices.
Theta Overview
| Trading price | $1.25 per Theta |
| Features in | Top 54 crypto projects |
| Trading volume (24 hours) | Over $82.8 million |
| Market cap | Over $3.662 billion |
| Maximum supply | 1,000,000,000 |
| Circulating supply | 1,000,000,000 |
| All time high | $15.72 per Theta (16 April 2021) |
| All time low | $0.040399 per Theta (13 March 2020) |
The Klever team is readily available to work with projects as transformational as the Theta network.
This would give our users greater possibilities of engaging in a more decentralized world in a Klever way.
