In the midst of thousands of cryptocurrencies today, THETA stands out as a rather unique coin with an intriguing concept and a clear development roadmap. So, what is THETA, and should you invest in it? Let’s explore the detailed information right here.
Contents
- 1 What is THETA, and should you invest?
- 1.1 What is Theta Network?
- 1.2 Who are the founders of THETA?
- 1.3 What issues does the THETA network aim to address?
- 1.4 What technologies does THETA apply?
- 1.5 What is THETA coin?
- 1.6 Investors in THETA
- 1.7 Competitors of THETA
- 1.8 Applications Built on the THETA Protocol
- 1.9 How has THETA’s price performed?
- 1.10 Should You Invest in THETA?
- 1.11 Where to Buy THETA Coin, Which Exchanges?
- 1.12 What Types of Wallets Are There for Storing THETA?
What is THETA, and should you invest?
What is Theta Network?
THETA is an Open Source Platform: Theta Network is an open-source network and protocol for all developers and partners to build upon.
With Theta Network, you can live stream shows, sports events, gaming matches, or even conduct sales as you wish. Alternatively, you can relay real-time video data, cache memory, and forward live video streams to users worldwide without the need for a central server or service, all managed by the Theta community.
Moreover, viewers on the Theta platform receive rewards in the form of TFuel, a Theta Network token used for transactions within Theta, such as payment to Edge Node transfer, sharing of video streams, deploying smart contracts, and more. Unlike YouTube, where you don’t earn anything for watching videos, on Theta, you can earn TFuel and convert it to cash if desired.
Who are the founders of THETA?
THETA was founded by Mitch Liu and Jieyi Long from China, where:
- Mitch Liu: Currently the CEO of THETA, he co-founded THETA.tv, Gameview Studios, and Tapjoy. He holds a Bachelor’s degree in Computer Science & Engineering from MIT and an MBA from Stanford Graduate School of Business.
- Jieyi Long: Co-founder of THETA and THETA.tv, he holds a Ph.D. in Computer Engineering from Northwestern University and has developed multiple patented technologies, including VR live streaming and instant replay for esports.
The THETA development team includes many talented individuals from both China and developed countries with high academic qualifications and years of experience in the information technology field.
Additionally, THETA has experienced advisors such as:
- Steve Chen: Co-founder and CTO of YouTube
- Dennis Fong: Co-founder and CEO of Play.tv
- Clifford Morgan: CEO of GFUEL
- Sam Wick: Chief Business Officer, United Talent Agency, with previous high-level positions at MySpace, AOL, Mp3.com, and Sony.
- Justin Kan: Co-founder of Twitch
- Karen Huh: Senior Vice President at CJ Hello
- Kyle Okamoto: Network Director at Verizon Digital Media
- Jonathan Wong: Product Director at Rakuten Viki, with previous experience at Microsoft
What issues does the THETA network aim to address?
+ Elimination of 3rd-party video user storage: In traditional video platforms, users store their videos on centralized servers owned by companies like YouTube, Facebook, TikTok, etc. With Theta, users within the Theta network become the video storage providers.
Copyright issues: In traditional centralized video platforms, users are paid very little for their copyrighted content, and the content is controlled by the service provider. With THETA, earnings go directly to the network users and are fairly distributed among them.
Content censorship: Traditional video channels can delete user-generated content. With Theta’s blockchain technology, no one has the authority to delete any video on the Theta network.
Video access bandwidth: Theta aims to become a global decentralized video distribution network, allowing users from anywhere to access videos quickly and with the highest quality.
Video quality: Theta seeks to provide solutions for video streaming up to 4K or 8K resolution, not just 360, 720, or HD as currently available.
What technologies does THETA apply?
+ Multi-BFT Consensus: A new BFT consensus mechanism allows thousands of nodes to participate in the consensus process, supporting high transaction throughput.
Aggregated Signature Gossip Scheme: Reduces the time to send complex messages and lowers communication costs.
Resource-Oriented Micropayment Pool: Built for online video streaming, it allows users to create an off-chain micropayment pool that anyone can withdraw from using off-chain transactions and has double-spend protection. It is much more flexible than off-chain payment channels.
What is THETA coin?
Basic information about THETA token:
- Symbol: THETA
- Blockchain: THETA
- Total supply: 1 billion THETA
- Circulating supply: 1,000,000,000
One unique aspect of THETA coin is that the entire Theta supply has been in circulation from the beginning. The Theta Network has a dual-token design, including TFUEL (Theta Fuel), which serves as a payment token for sharing or interacting with smart contracts. You can think of TFUEL as similar to GAS fees on Ethereum.
You can earn TFUEL by forwarding videos to other users on the Theta network or by watching videos on this platform.
Investors in THETA
Here is an image of investors in the Theta project that you may find interesting.
Competitors of THETA
Competitors to THETA include well-known traditional video streaming services such as Facebook, Youtube, Hulu, Netflix, TikTok…
Additionally, there are other blockchain-based projects that explore video aspects, such as Livepeer, Dlive, DTube, LBRY, Flixxo, MTonomy…
The main differentiating factors of THETA when compared to its competitors include:
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The project is on the mainnet stage.
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SLIVER.tv, with 3 million Monthly Active Users (“MAU”), is the first application built on Theta. Over 500,000 users have shared bandwidth on SLIVER.tv, with corresponding microtransactions taking place on the Theta blockchain testnet.
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Has partnered with Enterprise Validator Nodes including Google, Sony, Samsung, CAA, DHVC, Binance, Blockchain Ventures…
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Theta has collaborated with Decentral Games to expand live streaming capacity in metaverse events.
Applications Built on the THETA Protocol
The following image showcases some of the most prominent applications built on the THETA platform:
How has THETA’s price performed?
Let’s take a look at the price chart of THETA over the past year:
You can select “ALL” to view THETA’s price performance from its inception in the cryptocurrency exchanges or choose “1D” to view the price over a day, “1W” for a week, or “1M” for a month.
Now, let’s examine the price movements of THETA coin:
THETA coin initially traded at around $0.2 – $0.5.
The price of THETA reached nearly $2 at the beginning of 2021.
It then steadily increased to a peak of $14 in April.
In May, when most cryptocurrencies experienced significant price surges, THETA did not set a new all-time high and remained around $12.
By July, when the cryptocurrency market touched its low point, THETA’s price dropped to approximately $3.5.
From July to September, the price of THETA gradually increased but only reached a peak of around $9.
The current price of THETA is $ 1.32.
Should You Invest in THETA?
Whether or not to invest in THETA should be considered based on the strengths and weaknesses of this cryptocurrency:
What are the Pros of THETA?
♥ THETA’s development concept is promising, and its practical application has shown positive results.
♥ Steve Chen, co-founder of YouTube, is an advisor for Theta.
♥ Collaboration with numerous well-known brands such as Google, Sony, Samsung, CAA, DHVC, Binance, Blockchain Ventures…
♥ Theta has a dedicated development team and a solid platform.
♥ It is one of the leading video distribution networks on the blockchain.
♥ Users can earn money by creating video content, providing computer memory for storage, video transmission, and even watching videos through THETA.
What are the Cons of THETA?
♦ The initial token distribution of THETA was not done through a public sale.
♦ THETA is primarily a governance token for the entire Theta network, and these tokens are set by Guardian and Validator nodes. However, these Validators need to be approved by Theta Labs, and most current THETA holders are early investors.
♦ Additionally, there is another token called TFUEL, which serves as the main medium of exchange on the network, and users receive rewards in TFUEL rather than THETA, which can reduce the value of THETA.
♦ Competing with strong competitors, as users are already accustomed to these platforms, changing user habits can be challenging.
♦ THETA’s price is subject to fluctuations in the cryptocurrency market, and current investors are primarily speculating rather than genuinely believing in the project’s potential.
Where to Buy THETA Coin, Which Exchanges?
What Types of Wallets Are There for Storing THETA?
– THETA is a third-generation platform that supports both smart contracts and decentralized applications (DApps). Theta combines blockchain with live streaming video with the aim of decentralizing live and on-demand video content, creating a unique ecosystem on the Theta platform.
– THETA was created with the purpose of making live video streaming and video data transmission faster, higher quality, cheaper, and community-managed without the need for intermediaries.
– The disadvantage of THETA is that it was not initially offered to the public through an ICO, which raises concerns about its decentralization. Furthermore, transactions within the Theta network use TFUEL instead of THETA as the value of this cryptocurrency is not highly regarded.
– If you wish to invest in THETA, you should consider a long-term investment strategy because THETA faces significant competition from traditional video platforms and other blockchain-based video projects. Remember to only invest a small amount of capital as the cryptocurrency market always carries inherent risks.
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