Theta (THETA) tries to achieve these goals with technology that includes Multi-BFT Consensus, Aggregated Signature Gossip Scheme, and a Resource-Oriented Micromanagement Pool. Theta is an end-to-end platform build in a new blockchain with a next generation peer-to-peer (P2P) platform.  Finally, Theta is a long-term sustainable incentive mechanism that motivates stakeholders to improve video delivery.

The Theta Network (THETA) is trying to to build a decentralized peer-to-peer video delivery system on a new native blockchain.

The hope at Theta is to deliver quality videos streams at lower costs by increasing video delivery bandwidth. They hope to increase the bandwidth by paying users to give their excess bandwidth to the Theta network. The ultimate goal of the Theta Network is to deliver high-quality video streams fast without expensive infrastructure.

Theta Network is an open-source network and protocol open to all partners and developers. Video platforms and content providers will build decentralized apps (Dapps) to deliver video to their audiences. For example, a movie studio could build a Daapp to deliver its movies to viewers.

Theta is an End-to-End Platform

Theta (THETA) tries to achieve these goals with technology that includes Multi-BFT Consensus, Aggregated Signature Gossip Scheme, and a Resource-Oriented Micromanagement Pool. Theta is an end-to-end platform build in a new blockchain with a next generation peer-to-peer (P2P) platform.  Finally, Theta is a long-term sustainable incentive mechanism that motivates stakeholders to improve video delivery.

The Theta Network will connect computers, smartphones, Smart TV, and the Internet of Things to the Theta Network blockchain. Users could share bandwidth from any of those devices to the Theta Network.

The Theta Network (THETA) has some impressive partners including Alphabet (GOOGL), the Creative Artists Agency (CAA) a major Hollywood talent agency, NASA, MGM Studios, Binance (BNB), Samsung, and Sony.

The Theta Blockchain

Theta Network is a dual network that comprises two complementary subsystems, the Theta Blockchain and the Theta Edge Network. The Theta Blockchain will provide payment, reward, and smart-contract capabilities. Theta Edge Network will deliver videos and other images.

The Theta Blockchain will support Turing-complete smart contracts. It contains the Theta Virtual Machine, which is compatible with the Ethereum Virtual Machine (EVM).

A smart contract is a piece of a computer program that can execute a contractual agreement between two parties. A smart contract is Turing-complete when it uses programming languages with conditional statements and conditional branching. The hope is Turing-complete smart contracts can replicate computer logic.

The Theta Metachain

Therefore, the Theta Network (THETA) could theoretically use smart contracts to protect the copyright of videos.

Anybody can participate in the Theta Network and share bandwidth by downloading its tools. You can download the Theta Guardian Node on Windows, macOS, Linux, and CLI.

Theta Guardian Node operators can earn Theta Fuel (TFUEL). TFUEL is the operational token of the Theta protocol. Users will earn TFUEL for each video stream. TFUEL is the Theta Network’s equivalent of an Ethereum gas.

Theta Labs, the organization behind Theta, is planning a Theta Metachain. The Theta Metachain will be a chain of chains or an interconnected network of blockchains. They hope the Theta Metachain will allow permission-less scaling of the Theta Blockchain to give it enormous space to transmit streaming video.

Users can plug into the Theta Metachain, Theta Blockchain, and Theta Edge Network with the easy-to-use Theta SDK (software development kit). They hope the Theta SDK will allow cryptocurrencies and other assets to flow freely between chains.

Theta Network Technology

A Theta Video API (application programming interface) will allow decentralized video-on-demand. An API is a piece of software they can build into an existing video platform such as Netflix (NFLX) so it can operate on the Theta Network and the Theta Metachain.

Theta’s Edgecast Technology will allow decentralized video livestreaming. In other words, Edecast creates a video conferencing solution similar to Zoom (ZOOM).

The US Patent Office has approved Theta’s patent for NFT based digital rights management. This technology lets content creators manage rights across a decentralized network and several domains through nonfungible tokens (NFTs). Theta Labs hopes to release the NFT based digital rights management technology in the second quarter of 2022.

They hope to build a Theta Edge Store. The Theta Edge Store is a decentralized storage network that acts as a decentralized content delivery network for any type of files. I think the Edge Store will sell videos to users of the Theta Network.

They plan to launch Theta’s Video on Demand Elite Edge Node encoding; the NFT based digital rights management, and decentralized governance in the second quarter of 2022. They hope to launch the Edge Store Alpha Gateway, Theta API Advanced Analytics, and the Theta Video API live-streaming support Beta test in the third quarter of 2022.

The EdgeStore Beta test is planned for the fourth quarter of 2022. The probable Target Launch of the Metachain and the Theta Network 4.0 will be in the Fourth Quarter of 2022. They plan the Edge Store production release, decentralized Theta Video API release, Edge Streaming, and Edge Storage for 2023.

They have some major programming planned for the Theta Network, including special real-time predictive NFTs to celebrate the 20th Season of American Idol. Other Theta TV include the World Poker Tour, CONTV anime, G Fuel, THETA.tv, Sizzle, Shout TV which offers the American cult TV show Mystery Science Theater 3000, FAILARMy, Tokushoutsu, and the Pet Collective.

On 24 April 2022, Theta Network claimed to have 125,976 Edge Nodes, 3,471 Guardian Nodes, and 23 Validator Nodes in operation.

How Much Money could the Theta Network make?

The streaming video market is growing fast. Statista estimates global streaming video revenues will grow to $82.43 billion in 2022.

Worldwide streaming video revenues are growing by 8.89%, Statista estimates. Global streaming video revenues could grow to $115.90 billion by 2026. The average streaming revenue per user was $69.49 a year in 2022.

Statista estimates the number of streaming video users could grow to 1.487 billion by 2026. Around 15.6% of the world’s population watched streaming videos in 2022, Statista estimates. That percentage could grow to 18.9% by 2026.

The global streaming video market could grow to $932.29 billion by 2028, Fortune Business Insights estimates. Fortune Business Insights estimates the global streaming video market was worth $419.03 billion in 2021. The global streaming video market grew from $376.06 billion 2020. Fortune Business Institutes gives the worldwide streaming video market a compound annual growth rate (CAGR) of 12.1% for 2021 to 2028.

Hence, the Theta Network (THETA) operates in an $419.03 billion market that is growing fast.

What Value does Theta Network Offer?

CoinMarketCap estimates Theta Network (THETA) was the 15th most trending cryptocurrency on 24 April 2022. CoinMarketCap listed Theta as the 41st largest cryptocurrency on 26 April 2022.

 

Furthermore, CoinMarketCap gave the Theta Network a $2.787 billion Market Capitalization, a $2.79 Coin Price, a Fully Diluted Market Cap of $2.790 billion, and a 24-Hour Market Volume of $215.830 million. They base those numbers on a Circulating Supply of one billion THETA, a Maximum Supply of one billion THETA, and a Total Supply of one billion THETA.

 

In contrast, CoinBase gave THETA a $2.79 Coin Price, a $215.9 million 24-Hour Market Volume, and a $2.8 billion Market Capitalization on 26 April 2022. They base numbers on a Circulating Supply of one billion THETA. I consider THETA an unstable cryptocurrency because CoinBase gives it an all-time high Coin Price of $15.90.

 

If you are seeking a cryptocurrency that could grow fast in a fast-growing market. You need to examine the Theta Network. There’s no evidence the THETA Network is making money or reaching a mass market, but it could if one of its videos goes viral.

Originally published at https://marketmadhouse.com on April 26, 2022.

 

0 Comments

Leave a reply

Your email address will not be published.

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The US Patent Office has approved Theta’s patent for NFT based digital rights management. This technology lets content creators manage rights across a decentralized network and several domains through nonfungible tokens (NFTs). Theta Labs hopes to release the NFT based digital rights management technology in the second quarter of 2022.
FacebookTwitterGoogle+

©  2022 Dwarkadhish Technologies.

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

    Your Name (required)

    Your Email (required)

    Your Subject (required)

    Your Message

    Log in with your credentials

    Forgot your details?