What is Theta? – Definition, Efforts, and More
Definition of Theta
Theta is the software that seeks to incentivize the global network of computers to operate the decentralized video streaming platform.
Today, content delivery networks (CDNs), geographically located networks of operators, are paid to deliver video stream content to end-users.
And it’s due to restricted locations, and existing CDNs can not keep up with increasingly high-quality streams.
And it allows its global pool of users to relay videos by offering their spare bandwidth and computing resources and rewarding them for responsibility.
As extra users join the Theta network, more bandwidth is available, thus improving the streaming quality of the videos on the web.
Also central to running the operations on its blockchain. Also, it boasts two native cryptocurrencies and its coin to vote on changes in the protocol and TFUEL for executing transactions.
Theta is also open-source software. It claims that it increases the potential for anyone to create new applications and services on top of it.
How do Theta Efforts?
1. Enterprise Validator Nodes
• The companies who stakes the THETA tokens for the proper process transactions on the network. And its current Validator Nodes includes Google and Samsung.
2. Guardian Nodes
• Users who perform work ensure that transaction blocks propose by the Enterprise Validator Nodes are accurate.
3. Edge Node
• Users who either share their bandwidth and relay video streams over its network in return for TFUEL.
• Also, its network allows developers to build decentralized applications on top of its blockchain. And examples include royalty distribution applications and crowdfunding mechanisms.
• Also, network users can download an official Theta Wallet app to hold or stake their THETA and FUEL tokens.
• And it also built the micropayment system for video streaming purposes that allows content viewers and creators to send and receive THETA via the official wallet app.
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