Today, live video streaming accounts make up for over two-thirds of all internet traffic. The number is expected to go up and jump up to 82% by the year 2020. The virtual reality traffic is said to experience massive growth in the coming years. The estimate is at 61-fold by the year 2020. Although the two industries are said to experience some growth, they also face some challenges that people and other platforms have not been able to solve. Theta protocol plans to solve the challenges and offer even more benefits for those using video streaming and virtual reality.
What is Theta Token?
Theta protocol is a next-generation video delivery protocol powered by you. Theta protocol uses the Theta tokens as an incentive to encourage users to share their bandwidth resources and redundant memory as caching nodes for video streaming. The process improves streaming quality, delivery and solves “last-mile” delivery problem. In addition, Theta greatly improves the streaming market efficiency by streamlining the video delivery process.
Problems theta wants to solve.
Some of the problems in the current live video streaming industry today include low-quality video streaming, the high cost of streaming infrastructure and centralized and inefficient ecosystems. Theta network plans to offer users high quality, smooth video streaming. Reduce cost of delivering video streaming and off viewer rewards as Theta token. They also offer users a decentralized CDN delivery streaming throughout the world.
There are many reasons as to why you can use the Theta network. Here are some of the features that make theta a better live video streaming platform include:
- End-to-end decentralized video delivery
- Support Dapps for entertainment, esports, movies, enterprise, conferencing, education and more
- Naïve Theta Blockchain and protocol plus ERC20 compliant token
- Existing platform with 1M MAU.
- Novel concepts of Theta
Theta has three novel concepts which include
Proof-of-engagement: a scheme that proves that viewers legitimately consume the video streams and provide better transparency to advertisers. Also, viewers can earn Theta token for engaging with content.
Reputation dependent mining: caching nodes in Theta protocol play a major role of miners in the Theta blockchain. The block reward is not constant but depends on reputation score of the caching node.
Global reputation Consensus: Theta proposes a mechanism to reach the global consensus on the reputation scores.
Theta was co-founded and Mitch Liyu, CEO and CTO Jieyi Long. Head of product and platform is Ryan Nicholas, while Riz Virk is the head of Corp development.