Welcome to another post from MPIONC.COM In this article, we will talk about What is Theta Network. We will also discuss How Theta Network work and Who Backed Theta Network, also discuss the price of theta coin, Hope you are excited, so let’s get started.
What is Theta Network
Theta Network is taken to cut out the costs of business activity for video streaming companies like YouTube. It works by simplifying the load on the contented organization network by playing some of it on Theta’s peer-to-peer network. Where groups share video collection with each other, but it actually grok its users for using this collection. Theta Network isn’t try out to replace YouTube or in play floating platform Pinch. Instead, it’s trying to provide a new fund for such businesses that’s not only decentralized, but far cheaper.
If you’re trying to watch a video on a video streaming site that uses the Theta Network, you will receive the data in a combination of two ways. Some video will be streamed directly from the site’s legion platform, but you’ll also receive some of it from local peers using the Theta Network. While Theta Network claims to be cheaper than centralized secondaries, it still has some costs touched—and this is why the Theta tokens are necessary.
What is Theta Blockchain? How its Works?
The blockchain features 2 levels. First, it was validator nodes. Involve powerful computers, affect many transactions quickly. There are a few of these, and they are typically run along by companies who are back up the network, such as Samsung and Sony. They are the first line of defense in keeping the network secure. Those running validator nodes have to post 1 million THETA tokens. 2nd, there are community nodes. These are run by one thousand of people members, and they check and confirm that the validator nodes are acting accurately. If a despiteful block was somehow accepted by all the validator nodes, these community nodes would stop it in its tracks.
The Theta blockchain is accelerated and designed for fewer payments. This enables it to provide real-time payments to reward content allocators for their efforts. It achieves this through a proof-of-stake consensus performance, which is free-base on the Tender mint blockchain code. This mechanism involves users locking up a large amount of money of THETA in a process known as staking. Then they process blocks; if they process malicious blocks, they might lose some of their staked tokens.
Theta Network Backed By?
The organization behind Theta Network is called Theta Labs. It’s CEO Mitch Liu and has its own streaming site, Theta.tv, which pays viewers in TFUEL to watch a video collection. The company has around 25 workers, mostly founded in the San Francisco Bay Area—although it’s appearing to expand and has recently opened an office in Seoul. The company has a token amount of tax revenue currently, according to Was Levitt, head of strategy at Theta Labs. While the Theta TV platform brings in some revenue, it’s nothing relative to the size of the Theta blockchain, he explained. Rather, the company has been relying on funds raised from its investors.
This conservativist includes Samsung and the Sony Innovation Fund, along with a string of VC firms. As noticed, many of these capitalists run validator nodes on the Theta blockchain. Four of these VC tautens announced in March that they will be staking $100 million of their Theta tokens—mostly acquired in earlier investment funds when the token was cheaper—in a cooperative validator node.
The institution also has advisors from a range of thought media companies, adding Steve Chen, co-founder of YouTube, Justin Kan, co-founder of Twitch, and Jonathan Wong, director of product at video streaming website Rakuten Viki.
Theta has Any Future?
In the close term, Theta Network will be upgrading to Main net 2.0. This will upgrade the network and supply benefits. The upgrade will provide support for side nodes. These are nodes that download and share video content without the user needing to watch the video. This is for people who want to support the network and earn TFUEL. Levitt estimated that a user could earn around $10-15 a month by running a node full time.
Theta Labs too designs to introduce a non-fungible token NFT marketplace. NFTs are unique, digital tokens that represent a piece of digital content, such as art or music. The marketplace allows Theta TV content creators to issue their own NFTs and use them to interact with their viewing audience.