General Overview of Theta Network (THETA)

What is Theta Network?

How Does Theta Network Work?

Tokens on the Theta blockchain are used to encourage individual users to share their idle computing and bandwidth resources as caching or relay nodes for video streams. This design aims to improve the quality of stream delivery and solves the “last-mile” delivery problem, which is the main bottleneck for traditional content delivery pipelines, especially so for high-resolution, high bitrate 4k, 8k, and next-generation streams.

With sufficient network density, the majority of viewers will pull streams from peering caching nodes, allowing video platforms to significantly reduce content delivery network (“CDN”) costs. By introducing tokens as an end-user incentive mechanism, the Theta Network aims to allow video platforms to deepen viewer engagement, drive incremental revenues, and differentiate their content and viewing experience from their competitors.

Theta uses a two-token model:

Theta Network (THETA) token

  • THETA is the governance token of the protocol, so it represents a voting share on protocol decisions, upgrades, and more.

Theta Fuel (TFUEL) token

  • It is also the currency of micro-transactions for users to pay relayers for videos shared with them.

Key features or Theta Network

A peer-to-peer video delivery system

  • Bandwidth sharing mechanism with token rewards

Viewers are now rewarded to participate in the network by sharing excess bandwidth and resources. The tokens act as an incentive mechanism, as they relay video streams to other users. Not only does the Theta Token motivate viewers to join the network as caching nodes, it also greatly improves the streaming market efficiency by streamlining the video delivery process.

  • High-quality and smooth video streaming

This decentralized peer-to-peer network delivers streams efficiently globally, through the Theta Mesh Delivery Network made up by the Peers. Each peer node may act both as a viewer, a caching node or both. As the node launches, during the handshake step, it retrieves a list of candidate peers from the geo-optimised server for the livestream it’s playing.

  • Reduced cost of streaming delivery

With Theta, video platforms no longer need to build expensive infrastructure, which would mean more innovation and unique business models.

A high-speed infrastructure

The Theta wallet is used for community members to participate in the mainnet token-swap and will operate as a secure way for users to hold THETA and TFUEL.
The block explorer is constantly being upgraded with additional features be added in the future.
Guardian nodes allow users to contribute to the consensus of the network by finalizing blocks that Validator nodes have proposed. Before the full rollout of the Guardian nodes, users have an opportunity to participate in the Guardian Node Onboarding Program, where users’ equipment is evaluated based on tech specs, node uptime, and other criteria.

The Theta management team expects the key metrics of the mainnet, as follows:

  • The network should be able to support tens of Validator nodes and hundreds to thousands of Guardian nodes.
  • On-chain TPS could reach at least 500 TPS, supporting 10,000+ TPS for bandwidth sharing reward since its blockchain provides native off-chain transaction support.
  • The average transaction fee could be low, e.g., a minimum of 10–6 TFUEL per transaction.
  • 6-second block period and 6-second average block finalization time.
  • Block size of up to 8,192 transactions per block.

Additional key elements of Theta

Read more details about the Theta Network project at https://www.thetatoken.org/

Theta Network (THETA) and Theta Fuel (TFUEL) trading on Atomars

About Atomars Exchange

Fast and Secure Digital Assets Exchange Platform https://atomars.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store