Theta Blockchain Development
Theta Blockchain Development Services
Theta Blockchain Development Company
THETA is essentially an open-source protocol that uses blockchain and allows users to build dapps on it, like ethereum. It is a decentralized platform that focuses on video delivery on a peer-to-peer basis and makes it better for all users worldwide.
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What Future Holds Theta?
Theta is a blockchain project in the video streaming industry, expected to grow at a combined annual growth rate of more than 18% from 2020-24, with long-term growth as blockchain-like technologies and virtual reality advance.
Theta aims to reduce the costs associated with live streaming of content distribution networks and create seamless, potentially viable industry giants like YouTube, Twitch, and Netflix, and add momentum to the growth of fully integrated content delivery platforms.
Benefits of the Theta Blockchain
Theta users enjoy access to a global infrastructure for video content and data delivery. This open-source project provides esports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more. Also, the decentralized nature of the platform ensures that theta is powered by users.
Interoperability and expandability are the other major benefits of Theta blockchain. The network supports the creation of vertical decentralized appsb (dapps). These apps live on top of the platform and leverage its powerful technical toolset.
Theta’s Blockchain Network is Powered by Three Categories of Participants:
These are the companies that hold THETA tokens to process transactions on the network. Some of the most well-known network authentication sites include Sony, the Creative Artists Agency, Google, and Samsung. Validator nodes are the first line of defense network and require participants to invest 1 million THETA.
Edge nodes allow users to transfer video streams and share their streaming bandwidth on Theta. tv. They are awarded TFUEL for network support. Theta network allows users to stream to their peers without the need for a central content delivery network.
How Does Theta Work?
The blockchain network uses a peer-to-peer (P2P) protocol. It allows participants to be rewarded with real-time payments for content distribution. In addition, Theta users can apply the platform similar to Ethereum, which means they can create decentralized applications. That’s because Theta is an open-source project.
How Theta’s Two Native Tokens Work: THETA and TFUEL
- One of the features that make Theta stand out is that it has two native tokens: TFUEL, at press time trading at US$0.43 per coin and with a market cap of $2.3 billion; and THETA, trading at $7.20, with a $7.2 billion market cap.
- Theta Network participants who help share video content as edge nodes are rewarded for the data they stream with TFUEL. The platform itself pays for the content distribution, meaning that the service is free for end-users.
- Edge nodes don’t usually stream full videos, but rather small increments of them, so end users actually watch content streamed from multiple community nodes.
- Theta network’s second native cryptocurrency, THETA, is a governance token designed to help manage the blockchain and its future development. THETA has a fixed supply of 1 billion coins, avoiding the risk of inflation.
- THETA coins can be staked to receive TFUEL as a reward, but a user needs at least 1,000 tokens to become an eligible guardian node, and 1 million tokens to become an enterprise-level validator.
Why Hire Theta Blockchain Developers From Mobiloitte?
We, as one of the top Blockchain development companies, help you hire blockchain developers who ensure you deliver unique business results. Our blockchain developers on a dedicated, full time, or hourly basis who are adept at building Theta blockchain solutions.