Theta is a purpose-built blockchain for decentralized peer-to-peer video delivery. How does theta work? What is theta? Let's delve into these questions.
What is Theta?
Theta Network is a blockchain focused on media and entertainment. Theta allows video and media platforms to increase revenues and decrease content delivery costs while rewarding end-users for sharing storage or bandwidth on any PC, mobile, Smart TV or IoT device.
Theta is fully compatible with ethereum/">Ethereum (ETH) and offers Turing-complete smart contracts. Smart contracts provide a new set of user experiences and attribution models for the Theta network-based decentralized apps (dApps).
How does theta work?
THETA allows nodes to validate transactions, produce blocks, vote on changes to the network and earn TFUEL as a reward. Further, TFUEL is used to pay for transactions on Theta and is used as the micropayment currency when users pay Edge Nodes for sharing a video stream.
The Theta Network consists of three types of nodes. Edge Nodes are the most numerous and are hosted by Theta community members. Theta employs a dual token system so that the utilities of each token can be kept separate. Theta Token (THETA) is the protocol’s governance token and is staked by Validator and Guardian nodes. Theta Fuel (TFUEL), on the other hand, is the “gas” token used for operations on the network such as interacting with smart contracts. Edge Nodes earn TFUEL for sharing resources and relaying video streams.
How does theta work? What is theta? Now you know the answer.
