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Theta Network

What is Theta Network ?

Theta is a programme designed to encourage a global network of computers to run a decentralised video streaming service.

Today, content delivery networks (CDNs) are compensated to provide video streams to end-users. Existing CDNs can’t keep up with higher-quality broadcasts due to geographical constraints. Theta uses its worldwide pool of users for relaying videos using their spare bandwidth and computer resources.

As more people join the Theta network, more bandwidth becomes available, enhancing video streaming quality.

THETA is the Theta Network’s coin that Validator or Guardian nodes may stake in the platform.

Former VR live streaming developer Jieyi Long and mobile game founder Mitch Liu created Theta in 2017.

Primary features of Theta Network

  • Theta is a network with three types of nodes: Enterprise Validator, Guardian, and Edge.
  • Theta’s blockchain also allows developers to construct decentralised apps.
  • With Theta’s official wallet app, users may send and receive THETA for video streaming.
  • Theta’s modified BFT is a PoS governance technique that maintains the distributed network of machines running Theta Network in sync.
  • Theta Network uses two types of tokens. Theta pays users to expand their computer’s bandwidth into the network via TFUEL. Theta Token is the network’s governance token.

Is Theta Network a promising cryptocurrency?

Investors who trust in the future of shared video streaming platforms may also wish to add THETA to their portfolios.

Theta Tokens are useful in the real world. A fixed supply of 1 billion tokens may build demand, which makes it a promising cryptocurrency.

How to use Theta Network ?

  • Stake coins: Users can stake Theta tokens to become a Validator or Guardian node and contribute to the protocol’s governance. 
  • Trade:  Traders can trade in THETA through cryptocurrency exchanges.
  • Exchange: Coin holders can exchange THETA for other cryptocurrencies and fiat money.

Pros & Cons of Theta Network

Pros

  • Video streaming on the internet is decentralised.
  • It attempts to cut the cost of streaming video by up to 80%.
  • The goal of this project is to improve the video quality of internet video broadcasts.
  • Steve Chen, a co-founder of YouTube, is a consultant for Theta.
  • Collaboration with Samsung Virtual Reality

Cons

  • Theta.tv testing involved a significant level of video buffering.
  • This is a very new project.
  • Initial coin offering was very centralised and private.
  • The liquidity of THETA is relatively low.

Trade Theta Network on CoinSwitch kuber

  • Start trading and investing THETA at Rs.100
  • Simple and intuitive platform 
  • Zero trading fees
  • Manage your cryptocurrency investments in just a few clicks

Theta Network ICO summary

In 2017, the Theta team launched a private token sale, generating the equivalent of $20 million by selling 30% of THETA’s 1 billion unit supply.

FAQ's on Theta Network

  • What is Theta network Cryptocurrency?

Theta is a native blockchain with an open-source protocol, which means that it, like Ethereum, enables developers and partners to create decentralised applications on the network. It is a decentralised, peer-to-peer video distribution network driven by blockchain technology. 

  • How many THETA tokens are left?

There are 1,000,000,000 THETA coins in circulation at the moment, out of a total quantity of 1,000,000,000.

  • Where to Buy THETA?

One can buy THETA from cryptocurrency exchanges, such as CoinSwitch Kuber. 

Highlight: Theta uses its worldwide pool of users for relaying videos using their spare bandwidth and computer resources.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Theta uses its worldwide pool of users for relaying videos using their spare bandwidth and computer resources.