The Theta Network is a decentralized video streaming platform using a new innovative blockchain. Live video streaming accounts for over two-thirds of all internet traffic. The Theta Network aims to solve problems with video streaming. Viewers around the world can contribute their devices as caching nodes. They can form a network and deliver any given video stream to other viewers.
Viewers are given tokens to share redundant computing and bandwidth resources.The Theta blockchain is based on a proof of stake (POS) consensus mechanism. It lowers computation costs and increases transaction throughput.
The Theta Protocol lays out the incentives where caching nodes can earn tokens as they relay video streams to other viewers. Within the Theta Network, advertisers can directly target viewers at a lower cost, viewers earn Theta Tokens for their attention and engagement with their favorite content, and influencers also earn Theta Token as gifts directly from viewers. Streaming platforms reduce CDN costs and open up new revenue opportunities with Theta Tokens.
The Theta blockchain supports a specialized smart contract called an incentive contract. It is designed for several use cases thay may involve a large number of different parties, and simplifies the process of collecting and distributing tokens based on certain pre-defined criteria and allocations across different parties, some of whom may not be identified until later. With Theta’s incentive contracts, advertisers can reward viewers and streamers, viewers can gift rewards, viewers can support paid premium content, viewers can use tokens for subscription services, and a cacher can share rewards.