Education FAQ

What Is Theta Cryptocurrency?

Blockchain technology and cryptocurrencies can be used for a lot of different purposes. Various projects focus on disrupting existing video delivery services. Theta Network is trying to do exactly that, and its native Theta token has been getting a lot of attention as of late. A new era of video content delivery lies ahead.

The Theta Network Vision

Similar to some other blockchain ventures on the market today, Theta Network aims to disrupt traditional video content delivery. Similar to how YouTube made video streaming and sharing immensely popular, Theta Network will offer low-cost content delivery regardless of video quality or location. Unlocking the full potential of blockchain-based peer-to-peer video delivery will require a lot of work.

How Does it Work?

By positioning the Theta blockchain as an end-to-end infrastructure for decentralized video streaming, its potential is almost limitless. With a strong focus on both streaming and sharing, there will be a lot of technical and economic solutions to look forward to. This venture has also received official backing from Samsung, further indicating that the project could offer a lot of welcome changes in the near future.

Even though live video streaming seems to be rather advanced today, several key issues remain in place. Low-quality streams are still far too common, primarily because existing content delivery networks lack the necessary bandwidth and reach to most parts of the world. The infrastructure is also very expensive, leading to a high degree of centralization and inefficiency.

Theta Network solves these problems by offering viewers rewards in the form of Theta tokens. Additionally, the peer-to-peer decentralized nature of the network will ensure high-quality and smooth streaming at reduced costs. There are a lot of potential improvements where this project is concerned, and future dApp development may put an interesting spin on what the platform has to offer.

The Theta Token

No one will be surprised to learn that Theta Network has its own native token, known as Theta Token. It will primarily be used to reward users for viewing specific content, although other use cases may be unlocked as new dApps and services come to this platform. On paper, this infrastructure and token have tremendous potential.

The Road Ahead

According to the current roadmap, Theta Network will undergo some major changes and improvements in the coming years. The native blockchain is launching in Q4, and the current ERC20 tokens will be swapped out for native Theta blockchain tokens during the same period. Next year, validator and caching nodes will come to the network, and premium on-demand content will make its way to the Theta Network as well.

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