Theta Network: Current Price Insight
Understanding Theta Network and Its Role in Video Streaming
Theta Network is a groundbreaking blockchain platform specifically designed to revolutionize the video streaming industry. Launched in March 2019, Theta’s mainnet facilitates a decentralized ecosystem where users can seamlessly share bandwidth and computational resources through peer-to-peer (P2P) connections. Esteemed figures such as Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch, have endorsed this innovative project.
Theta’s Native Cryptocurrency: THETA
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Central to Theta Network’s functionality is its native cryptocurrency, THETA. This digital asset is integral to the network’s governance and operational processes. The platform boasts a robust lineup of enterprise validators, featuring industry giants such as Google, Binance, Blockchain Ventures, Gumi, Sony Europe, and Samsung. Moreover, the network is supported by a Guardian network comprising thousands of community-operated nodes.
Addressing the Challenges of the Streaming Industry
Theta Network aims to address the shortcomings of the current video streaming landscape, which suffers from centralization, inadequate infrastructure, and prohibitive costs. These issues often result in subpar user experiences and reduced financial gains for content creators due to existing barriers between them and their audiences.
The Visionary Minds Behind Theta Network
Theta was established in 2018 by Mitch Liu and Jieyi Long. Mitch Liu brings a wealth of experience from the video and gaming sectors, having co-founded the live streaming platform THETA.tv, the first decentralized application (DApp) built on the Theta protocol. He also founded Gameview Studios, a mobile social gaming company, and Tapjoy, a video advertising firm. Jieyi Long, Theta’s co-founder and CTO, boasts a strong background in design automation, gaming, virtual reality, and large-scale distributed systems. His contributions include several peer-reviewed academic papers and multiple patents in video streaming, blockchain technology, and virtual reality.
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Further Reading
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