Theta is a decentralized blockchain platform that delivers smooth, high-quality video streaming through its Decentralized Streaming Network (“DSN”).
The Theta platform was created to resolve key issues faced in live video streaming, including:
- Low-quality video streaming: Content delivery networks lack reach, causing pauses, skips and lower quality video to many parts of the world.
- High Cost of Streaming Infrastructure: Publishers absorb the high cost of operating a CDN, leaving less revenue to pass on to content creators.
- Centralized and Inefficient Ecosystem: The centralized nature means less revenue flow backs to content creators and results in less innovation.
The Theta platform delivers solutions to the above issues by delivering:
- Rewards: Views earn rewards as Theta tokens: For sharing bandwidth and resources, a view earn Theta tokens as a direct reward and share it back to the creators.
- Quality: High quality, smooth video streaming is delivered through a peer-to-peer decentralized CDN.
- Reduced Costs: Publishers and content creators no longer need to develop expensive infrastructure, allowing more innovative and unique business models.
Key features of the Theta platform include:
- The Theta platform is an open-source network and protocol open to all developers and partners to build on the Theta network.
- Video platforms and content providers are able to build specialized DApps for their audiences.
- Multiple Content Verticals: Content ranges from esports, music, TV, and movies to distance learning and peer-to-peer live streaming.
Theta was founded by co-founders Mitchu Liu and Jieui Long in 2015, with its Theta token sale concluding in January 2018, with a supply capped at 1,000,000,000.
A hybrid system is used for mining, where miners are not only required to use computing power to mine blocks but also to relay video streams to downstream viewers. Viewers are able to rank miners and lower their reputation if dissatisfied with streaming quality. This is referred to as Global Reputation Consensus, incentivizing miners to deliver on quality.
In addition to miners receiving a reward for relaying video streams, viewers are rewarded for viewing through its proof-of-engagement protocol that incentivizes advertisers to use the Theta platform and viewers to view to receive Theta tokens as a reward.
Other uses of Theta tokens include:
- Viewers can gift Theta tokens to support their favorite streamers, content creators and to purchase premium products, services, and virtual goods.
- Advertisers can use tokens to fund advertising campaigns to support influencers, streaming sites, and viewers.
- Viewers can also optionally earn tokens from advertisers as an engagement reward for their attention.
Some distinct differences and characteristics of Theta include:
- There is a finite number of Theta tokens, capped at 1,000,000,000.
- Viewers are rewarded for viewing content, while users are rewarded for sharing bandwidth and content downstream.
- Proof-of-Engagement protocol and Global Reputation Consensus are key characteristics that support delivery on high-quality video streaming.