To say that streaming video is popular is a bit of an understatement. Since well before the time of Youtube, streaming video has been part of the very fabric of the internet. Today, it’s how we get our news, how we entertain ourselves, how we educate our children, and much more. Youtube has become an international phenomenon with individual videos receiving literally billions of views.
There is, however, one problem. Actually, several.
Despite their ubiquity, large streaming platforms like Youtube are not equipped to handle a truly worldwide viewing audience. They simply don’t have the technology (servers, regional infrastructure) to reliably take their content everywhere viewers live. That’s why, in many parts of the world, Youtube videos are choppy and slow. Other users don’t have Youtube at all. Theta network plans to change this.
Theta network (and its native token Theta coin) aim to change the way video streaming content works. Using the blockchain, videos will be immutably stored, across thousands of devices all over the world. Without centralized servers (and corporate profits/costs), this content will be viewable instantly, wherever the blockchain network extends. There’s more to this story, so if you’re interested in Theta network at this point, read on through the rest of this Theta coin review.
What is Theta Coin?
Theta coin is pretty simple, but its implications are complex. Theta coin is the token used on the Theta network, which is a way of storing and delivering streaming video anywhere in the world. Because blockchain has no central servers, the content won’t be fast some places and slow others. It’ll simply be everywhere at once, as long as people are connected to the network.
Within the network, Theta coin has various important uses. Theta coin pays for transactions on the Theta network. Theta coin is paid back to users who perform actions that benefit the network. Theta coin is paid to content creators who do great work. This last point is important because many Youtube content creators have had their channels de-monetized recently.
What is the Theta Network?
Theta coin was borne out of a project called Sliver.TV. Sliver.tv is a streaming platform for gaming video content, for VR, esports, and related video content. Sliver.tv is already active, with hundreds of thousands of users. But when the Sliver.tv platform was new, they found they had no reliable way to deliver high-quality video content to their users. They created the Theta network in response.
The Theta Network is active on Sliver.tv as we speak. This blockchain based technology has the power to deliver HD and 4K video content with perfect clarity because it doesn’t rely on traditional server and network infrastructure. As the global demand for HQ video increases year on year, a blockchain solution like Theta network may really be the answer to the current paradigm’s limits.
Who is the Team Behind Theta Coin?
Theta coin has a qualified team of leaders and developers, all with experience in relevant industries, companies, and startups.
Take, for example, Theta co-founder Mitch Liu. With academic credentials from Stanford and MIT, Liu also founded Tapjoy and Gameview studios (in addition to Sliver.tv and Theta Network). The remaining three, two projects and another co-founder, are a braintrust of engineering, computer science, and blockchain specialties. Most members have successful past projects already under their belts, giving this team a leg up on many beginner cryptocurrency teams.
The team above are engineers and designers who are making the Theta network a reality, under the guidance of the previous four project heads. Each has impressive credentials available online, and any would be highly valued in any blockchain project.
What Are Theta Network’s Corporate Connections?
The Theta network is advised by co-founder of Youtube, Steve Chen, and co-founder of Twitch, Justin Kan. Theta network has numerous other technology and strategic partnerships, from venture capital, computer technology, and blockchain groups.
The company has received financing and support from various venture capital firms, as well as worldwide brands such as Samsung and Sony. These final two, it should be noted, are financeers of Sliver.tv and not Theta network directly. But as these partnerships are ongoing, one can assume that these multi-nationals are looking at the development of Theta Network with interest.
How the Theta Network Will Function
Theta Network’s blockchain code will be open source. This will allow anyone to create dapps (decentralized applications) that make the Theta network more useful and interesting for users around the world. This could allow fresh Virtual Reality content to be delivered and experienced in heretofore unimagined ways.
Theta Network will achieve its speed and storage goals by letting users “sell off” their unused PC resources. Basically, when you go to sleep, your PC could be used to store and relay streaming video content, sharing the workload with other PCs all around the globe. Users who allow their PC to be used on the Theta network in this way will receive Theta coin (THETA) as payment.
This model isn’t simply a way of making a little extra money for Western gamers. As the Theta coin price increases, this model may represent a legitimate income opportunity for people in parts of the world when internet systems do not currently allow HD video content streaming.
How the Theta Blockchain Will Operate
One integral feature of the Theta blockchain is “Reputation Dependent Mining”. People who use their PCs to help run the blockchain will operate “Cacheing Nodes”. These are storage and delivery mechanisms on the blockchain. These nodes will also mine new Theta coin. Each caching node will be assigned a “reputation score”, each time a new block is mined. If a node’s activity dedicated to mining that new block was high, that miner’s block reward will be increased, incentivizing them to devote more PC resources to the life of the blockchain. All other miners are employed in managing score changes and block rewards.
Theta network will also survey audience engagement with video content very specifically. Theta network will be able to tell which viewers watch certain videos, and exactly how much of each video they watch, and how often. This information will enable content creators and advertisers to tailor their content to the granular tastes of these users and user populations.
When Will the Theta Network Be Operational?
The Theta Network has an ambitious roadmap, but they’ve hit all of their past targets on time so far. Theta coin has hit all of their targets, from Q4 2016 to the present. From now through the end of Q3 2018, the team will be working hard to create the final Theta streaming platform. In Q4 2018, the Theta Network mainnet is set for full release.
By Q1 2019, the Theta network will bring on nodes for caching and mining. This will be the everyday user PC resource sharing model already discussed. By the end of 2019, the Theta network hopes to be developing their own original content. With Virtual Reality as their focus, Theta network could be at the center of VR just as it goes mainstream.
Why Invest in Theta Network?
The Theta Network is in its early days, and their vision is truly ambitious. With mainnet still months away, this might deter some blockchain investors. On the other hand, Theta has some big successes already in the bag. The network is live on Sliver.tv, and the Theta team has a history of finishing projects that they start, as well as financing and advisement from global streaming video innovators.
The Theta coin price plummeted along with every other cryptocurrency in the recent crash. At about 30% of its All Time High, many see the current Theta coin price as an unmissable opportunity. With a market cap below $75 Million, there seems to be a lot of room to grow for this exciting virtual reality and streaming content project.
Final Thoughts on Theta Network
Only time will tell if Theta Network manages to achieve their goal of worldwide instantaneous HD VR and HD video streaming content. For now, Theta’s early successes are impressive, and awareness is spreading fast through the cryosphere and among the growing user base of Sliver.tv. This is definitely a project we will be watching with interest.
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