Today, almost everyone is a user and consumer of online streaming services. Whether through YouTube, Twitch, Netflix, TikTok, Facebook, or many others.
The biggest challenge for providers is to ensure the delivery of content to the end-user with the highest quality and fluidity possible. All this at the lowest possible cost for them.
What could be more annoying than a relaxing Saturday afternoon when you are watching a Netflix series, and the video has poor quality?
The problem is not always the user’s Internet connection. In many cases, the content provider’s network is overloaded or without sufficient capacity to attend to the high demand.
In this article, we will talk about Theta. This blockchain project aims to encourage users to share their bandwidth so that others can enjoy high-quality online videos.
What is Theta, and what is the solution it provides?
THETA is a decentralized video delivery network with its blockchain, created to promote content sharing by users.
The problem is that the main point of failure of the distribution system is the centralized content delivery networks (CDN) through which the content reaches the end-users (viewers).
To solve the problem, Theta proposes a hybrid system in which the last mile is a “caching node” that brings content to viewers based on geographic proximity.
The first decentralized transmission network (DSN) where viewers become distributors and generate income for the vital contribution in this network.
In the image above, we can see the difference between the distribution of a traditional and a hybrid network. In a traditional network, all the viewers connect directly to the POP servers, whereas the hybrid architecture exploits cashing nodes that are geographically closer to the viewers. This ensures higher speed and better streaming quality.
How does the Theta Blockchain ecosystem work?
Currently, the network is composed of enterprise validation nodes (produce blocks in the chain). There are also guardian nodes playing an important role (ensure that transaction blocks are correct) and edge nodes (users sharing their bandwidth).
Large companies such as Google, Samsung, and Sony have bet on this project. As a result, they have become validating nodes of the network.
For users to share their bandwidth, there must be an incentive. Therefore, within the network, a system of micropayments is established to reward participants.
Two tokens drive the network economy
Theta: This is the governance token of the protocol. It can synchronize and act as a validator or guardian node. It is used to validate or produce blocks in the algorithm.
Tfuel: it is the fuel of Theta Blockchain. It is therefore partly comparable to the “gas” of cryptocurrencies such as Ethereum. It is used to pay for transactions and create smart contracts.
How to earn money with Theta?
A central component of this network is Theta.tv platform, where several participants give and receive incentives.
Streamers receive donations from viewers (Tfuel) for creating content.
Viewers can earn Tfuel by watching video content.
Advertisers use Theta tokens to purchase advertising space and sponsorships within the platform.
If you want to earn Tfuel as a viewer or streamer, visit Theta.tv and try for free. You will find content on video games, cryptocurrencies, virtual reality, and more.
Another way to generate money is through Staking. For this, you must become a validator node by blocking ten million Theta. Unfortunately, this option is not very accessible to the public.
Don’t worry if you don’t have money. You can generate income by sharing your bandwidth. All you have to do is run an edge node from your computer.
Is it worth investing in Theta?
The first thing to consider is the total supply of this coin which, according to Coinmarketcap, is 1 Billion. It is positive because it is a finite coin project.
Another consideration before investing is to have a good knowledge of the operation and the equipment behind it. It doesn’t help if developers put little interest in continuing to improve the network.
The price of the currency does not always reflect how good or bad the project is. Keep in mind that the crypto market is very volatile, and you can lose more than you can afford.
As with everything related to investments, it is best to do your research and not rely on one source to decide.
Conclusion
For many people, decentralization is the future. Theta proposes a solution to the inconveniences caused by centralized platforms such as YouTube.
There is the possibility of servers going down in a centralized infrastructure and staying without service for hours.
When a company manages the platform, you have to follow their rules which can be very strict, and if you don’t follow them, you will be banned.
The option to generate revenue by sharing content or bandwidth encourages the use of the platform.
Today on other similar platforms like YouTube, you do not earn money watching videos. Still, on Theta.tv you can generate income in cryptocurrencies.
On June 30, 2021, the mainnet 3.0 was launched with updates that make the ecosystem more efficient and promote the use of this network.
There is no doubt that this is a unique and promising project to benefit content creators and viewers. As a result, Theta has received support from major companies and the cryptocurrency community.
