Theta is a Blockchain network that aims to create a decentralized video streaming platform by sharing users’ backup bandwidth and computing resources. It provides management and transaction execution functions using two native cryptocurrencies, THETA and TFUEL.
This network, where individual users contribute with verifying nodes from major companies like Google and Samsung, is open source and allows developers to create decentralized applications. In this article, you can find answers to two frequently asked questions: What is Theta (THETA) and how to buy Theta (THETA) with TRY.
Theta, designed to revolutionize video streaming by creating a user-supported decentralized network, operates differently from traditional Content Delivery Networks (CDNs) that are often limited by geographical locations. Instead of relying on traditional CDNs, Theta uses a global computer network to provide high-quality video streaming. This innovative approach aims to address the limitations of existing CDNs struggling to meet the increasing demand for higher-quality video content.
In the current video streaming environment, CDNs are paid to deliver video content to end-users. However, their activities are limited by physical locations, which poses challenges in maintaining high streaming quality. Theta offers a solution by enabling users to share their backup bandwidth and computing resources globally. Users contributing to the network are rewarded, creating an incentive for more people to join. As the network grows, the available bandwidth increases, enhancing streaming quality.
Theta operates with two native cryptocurrencies: THETA and TFUEL. THETA is primarily used for governance and allows owners to vote on changes in the protocol. TFUEL, on the other hand, is used to execute transactions within the network. This dual-token system ensures the network’s stability and the efficient processing of transactions.
The Theta network is sustained by three main participant groups. Firstly, there are Enterprise Validator Nodes, including major companies like Google and Samsung. These nodes stake THETA tokens to earn the right to process transactions on the network. Secondly, Guardian Nodes work to ensure the accuracy of transaction blocks proposed by Enterprise Validator Nodes. Lastly, Edge Nodes are individual users who share their bandwidth or stream video content in exchange for TFUEL rewards.
Theta is open source, allowing developers to build decentralized applications on top of it. Examples of such applications include copyright distribution systems and crowdfunding mechanisms. Theta also offers an official wallet application that allows users to hold or stake THETA and TFUEL tokens, facilitating a micro-payment system for content creators and viewers to send and receive payments seamlessly.
The security and consensus of Theta are ensured through a modified Byzantine Fault Tolerance (BFT) mechanism, a variant of the traditional proof-of-stake (PoS) model. Both Validator and Guardian Nodes play a role in the consensus process, adding an extra layer of security. Validator Nodes must stake a minimum of 10 million THETA tokens, while Guardian Nodes must stake a minimum of 100 thousand THETA tokens. The voting power within the network is proportional to the amount of THETA staked, allowing those with a larger stake to have a greater influence on the network’s governance.
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Theta Constructs a Decentralized Network for Video Streaming
