Theta Network

– Decentralizing Content Delivery

$THETA $TFUEL
$118mil Market Cap

Volume/Liquidity: Binance, Upbit, Bithumb Huobi
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Theta wants to eliminate the buffering issues, increase the quality and lower the cost of video content delivery on the internet.  Sounds straight forward enough, but how does a small blockchain company change the world dominated by major businesses like Twitch and YouTube?

It begins with blockchain technology and cryptocurrency.  Streaming video online is more popular then ever and as 5G mobile networks launch, internet speeds double every 2-3 years and there is already an estimated two-thirds of internet traffic being directed toward content streaming, it’s clear that content delivery networks are going to have to decentralize the work load to keep up.  For Theta this builds naturally into the technology of blockchain and the proactive use of an incentivization model.  Content can only be delivered in the speed, cost and quality of its infrastructure.  What if that infrastructure was distributed around the world, across thousands of internet providers and clients?

“At its core, Theta is enabling users to share their idle bandwidth and computing resources to mine Theta tokens and in turn cache and relay video streams to others in the network”
-Mitch Liu, Theta Labs Founder
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THETA token is the key to network.  Traditional content delivery networks (CDN) provide a direct link from a centralized source for all clients using the network.  In the Theta model, geographically associated nodes are able to provide the bandwidth on the network instead of running from a single geologically fixed location.  These Decentralized Streaming Networks (DSN) incentivize users with tokens to provide their unused memory and bandwidth to improve the overall network.

“The greatest good for the greatest number of people” -Utilitarianism

Theta operates on a Proof of Stake blockchain using additional features to help improve security and speed of the blockchain. 

  • Multi-Level Byzantine Fault Tolerant (“BFT”): A modified BFT consensus mechanism which allows thousands of nodes to participate in the consensus process, while supporting high transaction throughput (1,000+ TPS).
  • Resource Oriented Micropayment Pool: An off-chain “Resource Oriented Micropayment Pool” that is purpose-built for video streaming. It aims to allow a user to create an off-chain micropayment pool that any other user can withdraw from using off-chain transactions, and is double-spend resistant.
  • Aggregated Signature Gossip Scheme: Theta proposes an Aggregated Signature Gossip Scheme which significantly reduces communication overhead and messaging complexity.

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THETA Token Utility:

  • Validator nodes (block production) or Guardian nodes (block finalization) can stake THETA tokens, and can earn TFUEL (the 2nd token in Theta ecosystem) as a reward.
  • THETA is the governance token of the protocol, so it represents voting share on protocol decisions, upgrades, and more.

TFUEL Token Utility:

  • TFUEL is used as the “gas” of the Theta protocol, and is used to pay for transactions and (in the future) smart contract deployment and operations.
  • It is also the currency of microtransactions for users to pay relayers for videos shared with them.

Theta.tv (formerly sliver.tv) is the primary platform at this time but through a partnership with Samsung this platform is expected to see significant additional adoption as it will be standard on all new Samsung Smart TV’s starting in 2020.

At the Samsung Developer Conference in October 2019, Tetha successfully tested the Theta Protocol on new smart tv’s like the Samsung QLED 4k Q70.   

“The live demo of Theta in Samsung’s smart TVs is focused on how video streams can be efficiently shared between multiple Samsung devices including TVs and desktop PCs. Samsung and SLIVER.tv content will be shared within our peer-to-peer network, demonstrating our vision of an any-device network sharing data using the Theta Network. The demo will also highlight the flexibility of the Theta protocol, featuring video streams in HLS and DASH formats, in both Full High Definition (1920x1080P) and Ultra High Definition (3840x2160P), and both livestreaming and Video-on-Demand use cases. This flexibility is key to the Theta protocol being compatible with as many devices and content providers as possible.”
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The ability of a business based on a new technology and a decentralized incentivization model to overturn the centralized platforms like Twitch and YouTube is very unlikely, but as these centralized platforms become unable to keep the demands of their customers affordable, other options become much more viable.  Using Brave to watch YouTube ad free with ads was a huge part of it’s early success.  Theta is partnered with leaders in the industry, taking advice from their competition and build a product that will be that needed other option.  Perhaps eventually all stream activity will benefit from the model of the DSN that Theta has built. 

Too early to tell but few other platforms have been able to retain and build off a modest base without wide spread and short-lived marketing ventures.  Theta is slow, and calm and getting ready for the adoption and use coming through their business partnerships and relationships.

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