THETA

Theta network consists of a blockchain and token. Theta works as the mechanism for decentralized video streaming and delivery network. Theta network came into effect to solve the challenges that video streaming deals with. Theta tokens encourage users to share their bandwidth and redundant computing resources as caching or relay nodes for video streams. 

Theta blockchain has an open-source protocol; therefore, it lets creators build dApps (decentralized applications) on it, just like the Ethereum network. It is a P2P video delivery network. When a user watches a video, the network harnesses a part of their computing power to stream those videos to other users. This blockchain gives earning tokens as a reward to those primary users who supply the power for streaming.

What is Theta?

Theta is an open protocol blockchain that wants to improve live streaming. Live streaming has been a hot topic and is growing fast globally. But how can Theta support this much power for streaming?

Theta collects the needed power through each user. Each user connects to the network from their computer. Each user’s computer supplies the following user’s power of blockchain; this makes content delivery faster than ever. Furthermore, Theta makes the cost of the entire process reasonable, so users can easily watch the video content.

Theta improves the quality of streaming. It provides the video platforms with reduced CDN (content delivery network) costs because it pulls streams from peering caching nodes.

Theta uses the PoS (Proof-of-stake) mechanism. The nodes in PoS lock the coins on the network to verify the transactions. 

Theta supports three types of users:

1- Enterprise validator nodes: Corporations that own Theta tokens for verifying network transactions.

2- Guardian nodes: These nodes keep consensus by validity verifications. They make sure that validator nodes work on point.

3- Edge nodes: These enable users to share videos and bandwidth. 

Theta background

Mitch Liu and Jieyi Long co-founded Theta in 2018. Theta has attracted big investors as supporters such as Samsung Next, BDMI Bertelsmann Digital Media Investments, Sony innovation fund, Silicon Valley VCs, Sierra Ventures, CAA, and the VR Fund.

Mitch Liu has a lot of experience in the video and gaming industry. Other than co-founding Theta, he builds “Theta. TV” (the live streaming platform) on the theta protocol. Jieyi Long is the CTO of Theta. He has worked in gaming, virtual reality, automation, and distributed systems.

They launched Theta in 2018 and then distributed it to buyers as an ERC-20 on Ethereum. But later on, they converted all ERC-20 versions of this token to native tokens on the Theta network in 2019.

Currently, the total supply of Theta tokens is about 1 billion. The total supply of the second native token on the network called TFUEL is 5 billion in all network participants.

Justin Kana (cofounder of Twitch), Steve Chen (YouTube cofounder), and several Verizon senior executives make up the advisory board at Theta.

Why Theta?

Theta aims to decentralize video streaming, edge computing, and data delivery to make the process more affordable and efficient for industry participants. Theta network has two native tokens in its blockchain called Theta and Theta Fuel, also known as TFUEL.

Theta protocol uses these tokens to power its economy.

The advantages of using Theta are as follows:

1-Users get better quality streaming

2-content creators improve their earnings 

3-video platforms can lessen the costs of building infrastructure 

4- Users can earn rewards (TFUEL tokens) by watching and sharing network resources and contents 

5-Token holders get the same governance powers as other PoS-based ecosystems.

6-Theta provides developers with the opportunity to launch dApps on its smart contract platform called EVM-compatible.

Theta Blockchain Ledger

A blockchain is a digital ledger of transactions. The Theta Ledger is a decentralized one made for streaming videos. It powers the Theta network by incentivizing the viewers to share storage resources and redundant bandwidth.

theta-token Theta Network
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FAQs

Best Way to Buy Theta in Australia

Many cryptocurrency exchange platforms support Theta, and you can buy your token from them. But before making up your mind, make sure to go through the exchange’s regulations and read about the services they provide their users. Not all exchange platforms are secure, and not all of them present wallet services to their customers.

You cannot trust just anyone (websites, exchange platforms, etc.) with your asset. So when considering an exchange, be sure to do your research on them and make sure that their platform is safe and hackers cannot get into them.

If you live in Australia and are looking for an exchange platform to attend to your needs, Bitunivex is a safe choice. In Bitunivex, you need to open an online account and buy the token or coin you have in mind. Bitunivex also exchanges Fiat currencies, and you can have your wallet on Bitunivex.

Is Theta Real and Safe?

Theta uses encouragements to make sure users take part in governance activities, and therefore its users secure the network. In other words, viewers can contribute their devices so they will be used as caching nodes.

As mentioned before, Theta relies on proof-of-stake. It employs a multilevel BFT(Byzantine Fault Tolerance) consensus mechanism. This mechanism helps balance security.

Theta safeguarded the network via Guardian nodes which were launched in 2019. Guardian nodes ensure that no single entry controls most of the staked Theta tokens.

In conclusion, the Theta network is on the blockchain; therefore, hackers cannot hack into your account and get your information. The only risks are the market’s rises and downfalls, which you need to consider while trading.

Can I Cash Out Theta Anytime?

On Bitunivex, you can have your wallet as well as be able to use the crypto exchange and fiat exchange platform. 

If you wish to cash Theta tokens, you can issue your request on the platform, and we will take care of your transaction in a matter of minutes. 

You can cash out your investment anytime using a local crypto exchange platform like Bitunivex. We offer instant and safe cash out.