What is THETA coin?

0 Shares 0 Flares ×

 

The first currency trading began on November 23, 2017, to date, Theta (THETA) is traded on 19 exchanges, including OKEx, Huobi Global, DragonEx and others. The maximum trading volume is observed for the THETA / USDT trading pair and reaches $ 244 million. During the week, the minimum price for Theta (THETA) was fixed on Thursday at around $ 11. Now Theta (THETA) costs 12 dollars for 1 THETA.

Theta cryptocurrency overview

It so happened that almost all video content on the Internet is in the hands of 7-8 major players, and the bulk is on Youtube. Delivering video to users requires colossal investments in infrastructure – a geographically distributed network of data centers with powerful servers and high-speed channels to traffic exchange points.

Meanwhile, according to a report from Cisco, by 2023, 80% of all global traffic will come from video content, and its amount will be measured in zettabytes.

Another feature of the current trend is a significant increase in the share of 4K, 8K and VR video, which will require huge computing power of servers for its transcoding and storage, as well as a multiple increase in the bandwidth of Internet channels to deliver content to users. To convert bitcoin to theta is rather simple.

What is THETA for?

The main feature of the industry is the unfair distribution of income. Video hosting, streaming services and online cinemas (video on demand) receive the bulk of the revenue, while the direct content creators get literally crumbs.

Viewers, spending their time, including watching ads, do not get anything. This distribution is explained by the colossal costs of renting and maintaining the network infrastructure, but the problem is that centralized video content delivery solutions are already facing serious technological constraints and are not efficient enough. 

THETA offers a more efficient and fair solution. Rejection of the centralized architecture and the transfer of video processing and transmission to a decentralized peer-to-peer network will allow:

  • significantly reduce the load on data centers;
  • exclude intermediaries between content creators and advertisers;
  • reduce the cost of organizing streaming in the network;
  • provide fair remuneration for members contributing their computing power for video transmission.

The interaction algorithm is simple: when watching a video, the user gets THETA Fuel.

Platforms that want to get an audience to watch videos buy tokens to pay for user-provided resources, but they no longer have to bear the colossal costs of building and maintaining network infrastructure around the world. 

Technical aspects of THETA’s work

THETA is a decentralized storage system, but optimized for video-on-demand and streaming. The blockchain is based on a unique consensus algorithm – Multi-BFT Consensus. In many ways, it is similar in functionality to Delegated PoS, but focused on confirming the delivery of content. The high performance of the decentralized network is achieved thanks to the following technical details:

  1. The consensus algorithm is split into two layers. Nodes are responsible for the formation of blocks, now there are 11 of them, but the planned number will not exceed 20-30 nodes. This solution eliminates voting delays. The second layer is Guardian Nodes. Their task is to check the finality of each block. 
  2. Resource-Oriented Micropayment Pool – Resource-Oriented Micropayment Stack provides automatic distribution and transfer of THETA Fuel and formation of appropriate transactions. Validators will only have to include them in the next block.

The platform supports two types of tokens – THETA and THETA Fuel. To organize Enterprise and Guardian nodes, the “main” token must be stacked (the reward is calculated in THETA Fuel).

 

 

0 Shares Twitter 0 Facebook 0 Google+ 0 LinkedIn 0 Email -- 0 Flares ×
The following two tabs change content below.
B2BNN Newsdesk
We marry disciplined research methodology and extensive field experience with a publishing network that spans globally in order to create a totally new type of publishing environment designed specifically for B2B sales people, marketers, technologists and entrepreneurs.