Ano ang Theta? (THETA)
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Theta is software that seeks to incentivize a global network of computers to operate a decentralized video streaming platform.
Today, content delivery networks (CDNs), geographically located networks of operators, are paid to deliver video stream content to end-users. Due to being restricted by their locations, existing CDNs can’t keep up with increasingly high-quality streams.
Theta allows its global pool of users to relay videos by offering their spare bandwidth and computing resources and rewards them for doing so.
As more users join the Theta network, more bandwidth is available, thus improving the streaming quality of the videos on the network.
Theta is also open-source software. It claims that this increases the potential for anyone to create new applications and services on top of it.
Sino ang lumikha ng Theta?
Theta was founded in 2017 by Mitch Liu, who founded startups in mobile gaming and online advertising, and Jieyi Long, who previously worked on VR live streaming technologies.
Notably, Theta’s board of advisers include Steve Chen, YouTube co-founder, Justin Kana, Twitch co-founder, and Rakuten Viki and CJ Hello, senior executives from Verizon.
The Theta team held a private token sale in 2017, raising the equivalent of $20 million by selling 30% of the 1 billion unit supply of its THETA cryptocurrency.
Paano gumagana ang Theta?
Theta is a network powered by three groups of participants:
- Enterprise Validator Nodes – Companies who stake THETA tokens for the right to process transactions on the network. Current Validator Nodes include Google and Samsung.
- Guardian Nodes – Users who perform work to ensure that the transaction blocks proposed by the Enterprise Validator Nodes are accurate.
- Edge Node – Users who either share their bandwidth or relay video streams over the Theta network in return for TFUEL.
The Theta network also allows developers to build decentralized applications on top of its blockchain. Examples include royalty distribution applications and crowdfunding mechanisms.
Theta network users can download an official Theta Wallet app to hold or stake their THETA and TFUEL tokens.
Theta also has built a micropayment system for video streaming purposes that allows content viewers and creators to send and receive THETA via the official wallet app.
Modified Byzantine Fault Tolerance (BFT)
Central to Theta is the modified BFT, a proof-of-stake (PoS) governance mechanism that keeps the distributed network of computers running Theta Network in sync.
Theta’s consensus mechanism differs from traditional PoS in that both validator and guardian nodes participate in the consensus mechanism, adding an extra level of security to the protocol.
These nodes must stake THETA tokens in order to help power the blockchain, produce blocks and vote on changes. Validator nodes are required to stake a minimum of 10,000,000 THETA while Guardian Nodes need to only stake 100,000 THETA.
Of note, voting power is determined by the amount of THETA staked.
Bakit may halaga ang THETA?
Ang THETA ay isang cryptocurrency na nagpapalakas sa Theta Network at maaari itong i-stake ng mga nais na maging Validator o Guardian na mga node.
Pinahihintulutan ng THETA ang mga node na mag-validate ng mga transaksyon, gumawa ng mga block, bumoto sa mga pagbabago sa network at kumita ng TFUEL bilang reward.
Sa karagdagan, ang TFUEL ay ginagamit sa pagbabayad ng mga transaksyon sa Theta at ito ay ginagamit bilang micropayment currency kapag ang mga gumagamit ay magbabayad ng Egde Nodes para sa pag-share ng video stream.
At ang panghuli, ang mga developer na naghahangad na mag-publish ng bagong application sa Theta Network gamit ang TFUEL para sa pag-deploy at mga operasyon ng kanilang mga smart contract.
Tulad ng marami pang ibang cryptocurrency, ang suplay ng THETHA ay limitado, ibigsahin nito ayon sa panuntunan ng software magkakaroon lamang ng 1 bilyon na THETA.
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Bakit ka gagamit ng THETA?
Theta may be of interest to active content creators who wish to have more control over their videos and the monetary system used to reward them.
Investors may also want to add THETA to their portfolios should they believe in the future of shared video streaming platforms.