Learn more about Theta Token.
Theta Token Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of the Theta Token.
Origin & Background
The Theta Network is fundamentally a decentralized video content streaming platform that receives power through its users. The team backing the Theta Token has more than three decades of experience in the video streaming space. It includes advisors such as Steven Chen, the co-founder of YouTube and Justin Kan, the co-founder of Twitch.
The Theta Network uses an open source protocol designed to decentralize streaming services. Also, the exclusive nature of the Theta Network blockchain enable the creation of decentralized app layers. It provides precise functions, such as peer to peer streaming, live sports broadcasts, education, conferencing, television and movies.
The first app built on top of the Theta blockchain will be a SLIVER.tv dapp. It has been bringing in millions of e-sports viewers from its launch. In addition, the key principle of the Theta Network is that network participants shall possess unused bandwidth.
These users will mine the native crypto token of the Theta Network, the Theta Token. This streaming architecture is enormously efficient in geographic regions in which internet connections are stable or reliable. Also, it provides individuals in these regions with the capability to produce passive income from their unused bandwidth.
Moreover, the peer-to-peer nature of the Theta Network will deliver far higher streaming eminence. It will minimize the overall distribution costs for content producers. Eventually, it is empowering the production of original content and minimizing the cost of content for consumers.
How Theta Token Works
Presently, the Theta blockchain is the only blockchain that is purpose-built for video content distribution. It uses independent reputation mining. When a caching node mines a new Theta block, it calculates a reputation score for itself. It is a measure of the amount of video stream relayed.
Maximum reputation increases the block reward and it encourages node operators to relay more video. Also, the Theta blockchain employs global reputation consensus. When a new block is mined, all nodes confirm the reputation of the node that mined the block.