THETAUSD
THETA / United States dollar
crypto

The Theta Network is a blockchain protocol for improving the process of creating, streaming, and consuming video content online. Theta Tokens are used in the network to incentivize users to act as peers who share redundant or excess computing and bandwidth resources with other peers. In June 2021, Theta Network added NFTs, e.g. trading cards of media celebrities, to the product portfolio. Theta Network Proof of Stake Mechanism The Theta Network is a Proof-of-Stake blockchain, which the Theta Labs team decided will best meet the transaction throughput, storage consumption, and fast consensus requirements of a video streaming platform. The Theta blockchain also introduces a multi-level Byzantine Fault Tolerance (BFT) mechanism which aims to provide the same network security as Bitcoin or Ethereum with much higher transactions per second validated. Theta Mainnet Theta's multi-level BFT designs for a small set of nodes called a validator committee to produce a chain of blocks as fast as possible while the thousands of other network participants, called guardians, can check this chain's validity. Guardians are a superset of the validator committee. Valid blocks require two-thirds of Theta guardians to validate. Theta Tokens were initially distributed as ERC-20 compliant tokens on Ethereum but later were exchanged one-to-one for native Theta Network tokens. The Theta Network mainnet launched on March 15, 2019. Theta P2P Network With Mainnet 2, Theta released peer-to-peer "EdgeCast" technology. This decentralized technology stack adds the ability to capture live video, transcode it in real-time, cache and relay live stream video data to users globally. According to the project's vision, all this would happen without central servers, in other words decentralizing video distribution end-to-end. Theta TV Theta TV is the main materialization of Theta's vision of streaming video using a peer-to-peer network. Its brand tagline is "Esports Entertainment Platform". Content creators can earn Tfuel from viewer donations, a Tfuel pool paying out according to hours watched, viewer subscriptions. Content creators can also solicit donations from their viewers using credit cards, paid out in USD stablecoin to the creator's wallet. Viewership seems to be limited to below 1000 at any one time. Thetadrop NFT In June 2021, Theta introduced a new product, Thetadrop. It is a marketplace for NFTs minted on the Theta network, traded in USD or TFuel. Advertised NFT include 3D animations from community artists, World Poker Tour "Moments", Theta-themed collectibles, and the like. Contrary to popular NFT platforms like OpenSea, the NFTs purchased don't end up in the user's own wallet, just an address associated with that wallet. (Project is still in beta).