WHAT IS $THETA?
THETA is a decentralized blockchain platform created to revolutionize the video-streaming industry.
With Theta, the centralized content delivery model controlled by the likes of YouTube and Twitch is replaced by a peer-to-peer (P2P) model. It’s sort of like comparing the more centralized file-sharing platform Napster to the more decentralized, Bittorrent-based file-sharing that goes on today. In addition to decentralizing the base structure of live-streaming media, Theta also believes the P2P model can actually improve the quality of video streams. Additionally, Theta enables experimentation with a variety of new content monetization models that are made much more efficient through the use of a native cryptocurrency.
History of THETA
The Theta network has its roots in the initial coin offering (ICO) bubble of 2017. Originally launched as an ERC-20 token on top of the Ethereum blockchain, Theta’s own blockchain with its own, native THETA token was launched in March of 2019.
The token sale that initiated the creation of the Theta project was completed in 2017, but it was a private token sale that was not open to the public. This is part of the reason that the project did not receive serious buzz until the launch of the Theta mainnet in early 2019. Mitch Liu, who is the CEO and co-founder of Theta.tv has a long history in the fields of gaming and online streaming.
Advantages of THETA include
- Decentralized video delivery: THETA utilizes a decentralized network of nodes to deliver video content, reducing the reliance on centralized servers and improving the overall efficiency of the video streaming process.
- Lower costs: THETA aims to reduce the costs associated with video streaming by eliminating the need for intermediaries and cutting down on bandwidth costs.
- Improved user experience: THETA’s decentralized video delivery network promises a more reliable and stable video streaming experience, with lower latency and better quality.
Disadvantages of THETA include
- Limited adoption: THETA is still a relatively new platform, and its adoption has been limited so far. This may limit its potential for growth and impact the video streaming industry.
- Competition: THETA faces stiff competition from established video streaming platforms and other decentralized video platforms, which may make it difficult for it to gain a foothold in the market.
- Technical challenges: THETA is a complex technology that may pose technical challenges for users and developers. This may limit its appeal to a wider audience and hinder its growth.
The point of the THETA token is to be used for staking by validating nodes on the Theta network. Additionally, advertisers can pay for their ad spots on Theta.tv with THETA tokens.