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Know how successful is the next-generation video delivery offered by Theta Network
The Theta Network offers the end-to-end infrastructure for the decentralized streaming of videos and provides economic and technical solutions. Theta was launched in 2019 with the aim to be operated as a decentralized network where the users can share the computing resources on a P2P basis.
THETA is the native token of the network, and the market price of THETA at the time of writing is $11.14 after an increase of almost 4.21% over 24-hours. It is increased by 21% over a week and managed to be under the top 20 cryptocurrencies globally in terms of market capitalization. The crypto aims to perform the different tasks within the network related to governance.
The project aims to solve the problems faced by the video streaming industry. Notably, the industry was centralized and having high costs and poor infrastructure, which ultimately lead to the poor experience by the users. Now, by making the industry decentralized, video streaming will be more cost-effective and efficient. It is an open-source platform and allows the token holders to receive governance powers. In addition to the video streaming, the platform offers the fully-featured smart contract platform, which is also EVM-compatible, to help the developers launch the Decentralized applications.
Additionally, it uses an incentive scheme to secure the network, which seems a unique way to secure the network by the users themselves. For balancing the security with the high transaction speed, the network relies on the PoS consensus mechanism.
What are the problems with live video streaming currently?
· The bad quality- In many parts of the world, the video re-buffers and takes high loading time.
· Inefficient system- Being centralized, the system makes less revenue to the platforms and content creators.
· High data requirements- For a better quality stream, it often requires a 4k, 8k, or even higher quality.
How can Theta Network solve these problems?
· The network is the decentralized peer-to-peer platform that is powered by the users. The decentralized network solves the problem of video quality by offering high-quality and smooth video.
· The platforms are no more required to build costly infrastructures, which helps develop more unique and innovative business models.
· Additionally, the users are rewarded for participating in the network by sharing the extra bandwidth and resources.
The Theta Network is indeed working very hard in solving various problems, and even the THETA coin is supposed to have many use cases in the real world, which will be helpful for it to gain more popularity.