Theta Network (THETA): what it is and how it works

What is Theta Network (THETA)

Theta is a decentralised video streaming platform based on blockchain. The core idea is to replace, at least in part, traditional content delivery networks (CDNs) with peer-to-peer video delivery, in which the users themselves, by providing bandwidth and resources, keep the network running. This page is for informational purposes only: Theta is not supported by Young Platform.

The model aims to solve some problems typical of streaming, such as server congestion and infrastructure costs, while offering better compensation to content creators.

How it works

In Theta’s system three categories of players come together, each with a benefit: viewers, who should enjoy more stable streaming; content creators, who can monetise more efficiently and with fewer intermediaries; and platforms, which reduce distribution costs.

Those who provide bandwidth and resources are rewarded, in a collaborative network where the value generated is partly redistributed to participants.

The two tokens THETA and TFUEL

The ecosystem is based on two tokens with different roles. THETA is the governance token, which validators can put in staking to take part in the consensus mechanism (a Proof of Stake with Byzantine fault tolerance, designed to withstand inactive or malicious nodes).

TFUEL, on the other hand, is the “operational” token: it is used as fuel for on-chain operations and distributed as a reward. Theta was founded by Mitch Liu and Jieyi Long (launched in 2018, moving to its own blockchain in 2019) and counts among its advisors figures such as Steve Chen, co-founder of YouTube. Past performance is not a guarantee of future results.