200 times in 1 year, what is the origin of the airborne Top10 THETA?

Speaking of those "dark horse Tokens" that have performed outstandingly recently, Theta can be regarded as one of them. On March 2 this year, Theta Network officially announced on Twitter that Theta mainnet 3.0 will be released on April 21.

Although it was recently announced that it will be postponed to June 30, after the news was released, many investors who already knew that Theta has performed well in 2020 are eager to move. In the past month, the price of Theta has increased by about 358%, and the market value of circulation has exceeded 13.19 billion US dollars (statistics as of March 26), entering the top ten of the cryptocurrency market value list.

In addition to its amazing price increase, it is also the first decentralized video streaming platform based on the original blockchain technology, and it has already had a landing application out of the circle. What is the origin of Theta, which has increased by nearly 200 times in a year? Let us find out today.

The Theta network, which launched its mainnet in March 2019, is a leading video delivery network powered by blockchain technology, allowing users to share bandwidth and computing resources on a peer-to-peer basis. To put it simply, it is to use blockchain technology to solve some problems in traditional video.

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In the traditional video field, media platforms deliver video content-zce to users by building a centralized content-zce delivery network (CDN) server base station.

CDN refers to some geographically dispersed servers that work together to solve the problem of delayed delivery of Internet content. Currently, most web traffic such as Facebook, Netflix, and Amazon are served through CDNs.

But there are many downsides in this case. For example, although CDNs have been established in many places around the world, compared with the huge video user base, the coverage of CDNs is still very limited, and many users cannot enjoy smooth high-quality videos;

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Secondly, the construction cost of CDN server base stations is very high, and many small platforms cannot afford it; in addition, relying on third-party servers will cause a large part of the content-zce creators' income to be handed over to platforms and service providers, which cannot motivate creators and so on.

To solve the above problems, Theta network came into being.

Similar to the IPFS storage introduced before, Theta makes each user a cache node in the network by allowing each user on the platform to share their own idle bandwidth.

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Users who watch videos only need to obtain video content-zce from the cache node closest to them, which solves the previous limitation that they can only obtain videos from CDN server base stations.

So what is the technical model and operating mechanism of Theta network?

First of all, the overall idea is still the same. On the Theta network platform, a group of people watching the same video and users with free bandwidth can share their own resources and make themselves a cache node.

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Allow other users watching the same content-zce to buffer the video based on the principle of the nearest node, instead of passing through a CDN service base station. In this way, the machines of scattered users can be integrated to realize the utilization of idle bandwidth and computing resources, so that Users enjoy smoother and clearer video quality.

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According to Theta official website, Theta currently has 33,384 edge nodes, 3,787 guardian nodes, and 14 enterprise verification nodes. (Data as of March 30)

Among them, enterprise verification nodes include well-known enterprises such as Google, Sony, and Samsung.

In addition, in order to motivate video creators and viewers and achieve long-term sustainable development, Theta Network adopts a dual Token system, that is, by introducing the equity token THETA and the operation token TFUEL.

Equity token THETA, users can participate in THETA governance and obtain benefits. The total supply of THETA Token is constant, fixed at 1 billion, and all of them have been minted.

The operation token TFUEL, which is similar to the gas fee on Ethereum, can be used to reward users who share bandwidth resources and deploy smart contracts.

On the one hand, users can obtain TFUEL rewards by staking THETA on the platform; on the other hand, video creators and video viewers (bandwidth providers) can share the TFUEL Token rewarded by the platform.

In this case, users who watch videos, original video creators, advertisers, and the platform itself can benefit, which not only greatly reduces operating costs, but also eliminates the many disadvantages of network freezes and low throughput in the traditional video field. solve.

In addition, Theta Network also launched an off-chain pool for micropayments, and the Theta Token Minter, which allows users without smart contract experience to create new TNT-20 Tokens on the Theta blockchain. Various applications and assets are attracted on the blockchain.

In addition, in terms of security, Theta network mainly adopts the proof-of-stake mechanism and the Byzantine fault tolerance mechanism to ensure the security of the mortgaged THETA Token.

Theta is currently listed on mainstream trading platforms such as Huobi and Binance. Since last year, Theta has entered the top ten cryptocurrencies by market capitalization with an increase of nearly 200 times. According to coinmarketcap data, as of March 30, Theta's market value exceeded nearly 85 billion yuan.

Picture source: coinmarketcap

Theta, as a company under SLIVER.tv (the industry-leading e-sports live broadcast platform), has laid the foundation for THETA.tv's development by virtue of SLIVER.tv's own popularity and user volume.

In addition, Theta team members are all graduated from famous universities in the world and have rich working experience in media. CEO Liu Miqi is a master of management from Stanford University Business School; Chief Technology Officer Long Jie is a Ph.D. in computer engineering from Northwestern University. · Nichols was the co-founder of a real-time food streaming app and more.

In May last year, Theta announced its cooperation with Google Cloud through its official Twitter. Google cloud developer Allen Day said: What Theta is doing now will bring new business models and change the global digital economy including video and other related industries, and said it will support Theta's long-term mission and future growth.

Google's move made many people recognize Theta. In addition, it has also reached cooperation with Youtube, gumi Cryptos, etc. At present, more than 20 investment institutions such as Danhua Capital, DCM, and Samsung have participated in the investment in Theta network, which can be said to be out of the circle.

Regarding the announcement of the postponement of the mainnet 3 on March 25, the Theta development team claimed that it was to achieve a more secure edge network, and also needed to do some related deployment in NFT.

At present, the Internet is still developing at a high speed, and streaming media has already occupied half of the country. In the case of a sharp increase in video demand, problems such as slow network transmission performance, congestion, and low traffic throughput need to be resolved urgently. Although the wave of "blockchain +" has been advancing, Theta has also been born, making it possible to watch videos with low cost and high enjoyment.

However, as the first blockchain + streaming media platform, there are still many problems to be solved, and more exploration and innovation are needed. It is also worth noting that the short-term increase in Theta has been too high, please treat it rationally, this article does not constitute investment advice.

What do you think about the Theta project? Welcome to share your views in the message area.

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Author | Sanli

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