Theta Token (THETA) – The cryptocurrency market is in a good position. DanGolem (GNT) Morehead, founder of Pantera Capital Management, went on CNBC yesterday and talked about cryptocurrencies and how now is a good time to buy-in. In seems that Bitcoin has bottomed out and big money is about to head into the market.
One of the best performing coins in the past couple days has been Theta Token. Designed to reward users who share their bandwidth and resources with the Theta network and it’s viewers, Theta Token (THETA) may be one of those gem digital currencies, similar to Golem (GNT), with an actual use case and practical digital platform. Theta Token (THETA) is currently ranked among the top 100 cryptocurrencies and is placed at the spot of number 91 as of now. Recently listed on Binance, one of the world’s largest exchanges, the THETA coin is now trading at $.27. Since the Binance listing the coin has experienced a major price increase.
— Binance (@binance) May 29, 2018
Theta Token is looking to build the next generation decentralized video delivery and streaming network. Like AirBnb and Uber, Theta is all about sharing you computing resources and bandwidth.
— SludgeFeed (@SludgeFeed) May 13, 2018
Today’s video and gaming and streaming market is a multibillion dollar industry and things are still advancing. The solution to all the kinks in the market now, is a decentralized peer to per network leveraging th power of blockchain. Theta Labs is a subsidiary of SLIVER.tv – one of the leading VR live streaming companies. Theta Labs is announcing a decentralized streaming network that is powered by users and a new native blockchain. The founding team has a combined 30+ years of experience in the video streaming space with advisors including Steve Chen of Youtube and Justin Kan of Twitch.
Steve Chen, Youtube’s Co-Founder said this: “Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams. . . I’m excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs?”
Other advisors include Professor Shoucheng Zhang who is the Founder of Danhua Capital and Fan Zhang, the founding member of Sequoia Capital China. Also, the founder of CoinMkt, one of the first US bitcoin exchanges, Travis Skewers, is a part of the team too.
The whitepaper describes it as the solution to several industry challenges that cannot be solved easily through traditional technology as it can be used as an incentive for individual users to share their redundant resources as a caching node for video streams.The team at Theta is focused on revolutionizing the online video industry in a beautiful way. Theta aims to provide a decentralized peer-to-peer network and will improve video delivery while decreasing the cost of doing so. It also aims at creating an end-to-end infrastructure for decentralized video streaming The current ecosystem of live streaming is heavily centralized and incredibly inefficient. By introducing a decentralized video steam over a blockchain network, streamers and viewers will experience smooth and high quality. The cat of delivering video streams will be reduced and viewers will earn Theta Tokens as a reward for viewing content. As mentioned before, tokens are also earned when sharing bandwidth and resources.
This was said by Mitch Liu, the Co-FOunder and CEO of Theta Labs Inc.: “We’ve been on the cutting edge of live streaming technology and by leveraging blockchain we will truly be able to transform the video and entertainment industry… Theta will be uniquely built to leverage the incentive mechanisms of the blockchain, enabling end-users to contribute their excess PC bandwidth and resources to relay video streams to others and earn Theta tokens at the same time. It’s a win-win for all stakeholders in the ecosystem.”
The Theta Token is most definitely still in the development stage, however, progress is most certainly coming to fruition. The open source protocol will allow for vertical decentralized apps (Dapps) streaming, and more. SLIVER.tv’s Dapp will be the first application built on the Theta network leveraging its existing user base of millions of sports viewers.
The core of the network lets users worldwide share bandwidth and relay video streams to other in the network and in turn mine Theta tokens. THETA has a very bright future and an actual use case and can end up going a very long way in the future. It is now trading at a new all time high and it is possible that the coin can continue to go past even the $.30 mark. It is an exciting time for the market as analysts say a bull run is coming.