Decentralized video streaming, powered by users and an innovative new blockchain
Theta Network is trying to build a decentralized video streaming platform that can potentially solve a lot of the problems faced by the traditional content delivery/video streaming ecosystem.
Steve Chen, Co-founder of Youtube, is one of their advisors, he said:
"Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams..",
"..I’m excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs.."
The problems that Theta is going to solve:
Their Solution:
Theta’s mission is to leverage the decentralized blockchain structure to create the first Decentralized Streaming Network (DSN) whereby video viewers are incentivized to share redundant memory and bandwidth resources to address today’s video streaming challenges.
They like to see DSN as the “World Cache” formed by the memory and bandwidth resources contributed by viewers.
Viewers around the globe can contribute their computers as “caching nodes” whereby they form a video delivery infrastructure that is responsible for delivering any given video stream to viewers anywhere around the world.
To encourage viewers to contribute their memory and bandwidth resources, they introduce the Theta protocol as an incentive mechanism. The caching nodes can mine new tokens as they relay video streams to other viewers. Not only does Theta tokens motivate viewers to join the network as caching nodes, but it also greatly improves the streaming market efficiency by streamlining the video delivery process.
Within the Theta network, advertisers can directly target viewers at a lower cost, viewers earn Theta tokens for their attention and engagement with video streams, and influencers earn Theta token as gifts directly from viewers.
The full launch of the Theta protocol in phase II introduces a new blockchain and a native token structure where:
I like their project and I think it has a lot of potential. The idea of creating a DSN (Decentralized Streaming Network) could potentially be revolutionary and replace the CDN (Content Delivery Network). If successful the network will attract a lot of the content owners like Amazon, CNN, Netflix, etc. and could really change the video streaming world.
Theta Token chart on CoinMarketCap looks good and it seems to me that the actual price represents a nice entry point.
However I have to say that I'm not a financial advisor and I just love to talk and write about cryptocurrencies.
Website: https://www.thetatoken.org/
Whitepaper: https://s3.us-east-2.amazonaws.com/assets.thetatoken.org/Theta-white-paper-latest.pdf
Price Chart: https://coinmarketcap.com/currencies/theta-token/
DISCLAIMER
