It is already extremely difficult to imagine everyday life without video content. Theta Network is a blockchain focused on video streaming. The company aims to surpass Netflix and YouTube, although it has no plans to replace them.
Theta Network is unique in that content creators don’t pay to share videos. Users pay for views. For settlements on the network, the native THETA token is used.
Many crypto traders see THETA coin as an asset with good potential. If the network can effectively solve the main problems with streaming video, it will attract new users and the project will actively develop. Accordingly, the coin will rise in price.
Features of Theta Network
There are not many things in the world that cannot improve. Theta Network aims to improve the quality of services associated with the creation and distribution of video content. The team is working to make it easier for users to access video content and reduce streaming costs for content creators.
The team aims to create an environment where content creators have an equal opportunity. Many creators are willing to pay to use a streaming service, but not everyone has enough funds to pay for such services. Theta Network will allow every user to create and share video content.
Since Theta Network is based on the blockchain, all other advantages of decentralized networks over centralized services follow directly from this. The video creator has full control over their own content.
The data posted on the blockchain is wholly owned by the person who publishes it. They are protected by cryptographic methods and this will help to make copyright problems a thing of the past. Each entry in the blockchain remains in it forever and has timestamps. These labels cannot destroy or edit, and they can use to quickly and easily establish the first and rightful owner.
Behind the project is an authoritative team of professionals led by Mitch Liu. It also includes YouTube co-founder Steven Chen, Verizon CEO Rakuten Wiki, and a few other notables.
How does Theta Network work?
The network uses the Proof of Stake consensus mechanism. This means that there are validating nodes in the network that validate transactions and add new blocks to the network. To run a validator node, you need to block 10,000,000 coins. In addition to validators, there are community nodes in the network that control the work of validators and their performance.
It only takes 1,000 tokens to run a community node and is more affordable for many ordinary users.
The network operates two own cryptocurrencies, designed for different purposes:
- TFUEL – to pay for platform services and to pay rewards to validators and content creators.
- THETA is a governance token that enables active participation in maintaining the functionality and security of the network.
TFUEL is an analogue of gas in the Ethereum network. Both tokens are available on top exchanges, however, in most cases, the exchange of THETA to TFUEL is possible only through additional transactions involving stablecoins.
Is THETA a good investment?
When making an investment decision, it is important to know the strengths and weaknesses of the project.
- The project was one of the first to occupy the niche of streaming video on the blockchain and is developing quite successfully. Famous people work in his team.
- Theta blockchain is now compatible with Meter Passport, a cross-chain blockchain that provides connectivity between Ethereum and Binance Smart Chain. It is expected that this collaboration will help to significantly improve the scalability of the platform.
- Theta Labs fund by many popular investors, including Sierra Ventures, IBC Blockchain Capital, IOSG Ventures.
- The project cooperates with the most popular video streaming platforms and other influential players in the entertainment and video streaming industry.
- The project competes with the largest companies in the world and has a lot of work ahead of it to attract users.
- Like any other crypto project, Theta Network is very sensitive to general market sentiment.
The Theta price forecast is moderately optimistic at the moment. Analysts believe that the coin will gradually rise in price in the long term, but do not neglect your own research before investing.