Theta is a Blockchain network that aims to create a decentralized video streaming platform by allowing users to share backup bandwidth and computing resources. It operates using two native cryptocurrencies, THETA and TFUEL, to provide governance and transaction execution functions.
With major companies like Google and Samsung as validator nodes alongside individual user contributions, this network is open-source and enables developers to create decentralized applications. In this article, you can find answers to two commonly asked questions: What is Theta (THETA) and how to buy Theta (THETA) with TRY.
Theta is designed to revolutionize video streaming by creating a user-supported decentralized network. Unlike traditional Content Delivery Networks (CDNs) limited by geographical locations, Theta utilizes a global computer network to deliver high-quality video streams. This innovative approach aims to address the limitations of existing CDNs struggling to meet the increasing demand for higher-quality video content.
In the current video streaming landscape, CDNs are paid to deliver video content to end-users. However, their activities are limited by physical locations, posing challenges in maintaining high stream quality. Theta offers a solution by allowing users to share global bandwidth and computing resources. Users contributing to the network are rewarded, creating an incentive for more people to join. As the network grows, the available bandwidth increases, enhancing stream quality.
Theta operates with two native cryptocurrencies: THETA primarily used for governance, enabling owners to vote on protocol changes, and TFUEL used for executing transactions within the network. This dual-token system ensures the network’s integrity and efficient transaction processing.
The Theta network is sustained by three main participant groups. Firstly, Enterprise Validator Nodes, including major companies like Google and Samsung, stake THETA tokens to earn the right to process transactions on the network. Secondly, Guardian Nodes work to verify the accuracy of transaction blocks proposed by Enterprise Validator Nodes. Lastly, Edge Nodes are individual users who share bandwidth or stream video content in exchange for TFUEL rewards.
Theta is open-source, allowing developers to create decentralized applications on top of it. Examples of such applications include copyright distribution systems and crowdfunding mechanisms. Theta also offers an official wallet application that allows users to hold or stake THETA and TFUEL tokens, facilitating seamless payment transfers between content creators and viewers.
Theta’s security and consensus are ensured through a modified Byzantine Fault Tolerance (BFT) mechanism, a variant of the traditional proof-of-stake (PoS) model. Both Validator and Guardian Nodes play a role in the consensus process, adding an extra layer of security. Validator Nodes are required to stake at least 10 million THETA tokens, while Guardian Nodes must stake a minimum of 100,000 THETA tokens. Voting power within the network is proportional to the amount of THETA staked, allowing those with a larger stake to have a greater influence on network management.
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In conclusion, Theta’s innovative approach to video streaming through a decentralized network powered by blockchain technology offers a promising solution to the challenges faced by traditional CDN systems. By leveraging global user contributions and utilizing native cryptocurrencies for governance and transactions, Theta aims to revolutionize the video streaming industry. Through its open-source nature, Theta enables developers to build decentralized applications and provides users with secure and efficient means of engaging with the network.
