In my quest of simplifying some of the ground-breaking technologies in the blockchain ecosystem, today I bring to you- Theta Blockchain a decentralized video delivery network aimed at revolutionizing the way we consume content on the internet. Addressing the technical and economic problems faced by the streaming sector, this project is rather exciting, for it can be the future of live streaming if it continues to gain users at the current rate. To give you a perspective, Theta labs has three patents to its credit and the fourth one has been filed. 

What is Theta Blockchain?

Remember the good old days of Limewire, when we could download any music, movies, software, and all for free? It made life so simple and easy through its peer-to-peer network. It was an open-source, completely free, file sharing and distribution system. Theta blockchain, like Limewire, is a P2P network of a different sort. Theta is a decentralized video delivery network that is designed to incentivize the sharing of bandwidth across the network. In other words, users are given the opportunity to share their redundant/excess/unused computing and bandwidth resources to address the challenges faced by the video streaming platforms.

The team aims at providing users high-quality video streams without the annoying re-buffering and associated high costs. Costs for owning and maintenance of CDN bandwidth are significant (tens of millions of dollars per year). More on CDN below. These costs are only becoming more and more prominent with the upcoming 4K/8K 360 degree VR streaming and the lightfield streaming in the future.  Theta's end goal is to be able to solve all these problems by providing a seamless streaming solution.

The solution to the Last Mile problem

All of us spend considerable amounts of time on the internet and I think it’s safe to say a large portion of that time is spent on portals like Facebook, Youtube, Netflix, or other video streaming services.  However, it is important to note these high-resolution high bitrate 4k, 8k streaming portals struggle with the provision of adequate resolution and high speeds to meet the growing demand. Referred to as the last-mile issue, the centralized infrastructure of these streaming platforms is a major concern, and Theta with its innovative blockchain eliminates the bottlenecking of traditional content delivery platforms.

The content delivery platforms operate through content delivery networks.

What are content delivery networks? The content delivery network (CDN) is a large, geographically distributed network of specialized servers that accelerate the delivery of web content and rich media to Internet-connected devices through a technique called 'edge caching’. Simply put, it stores replicas of static text, image, audio, and video content in data centers around the 'edges' of the internet.

Problem - The problem with the current model is that the number of data centers is limited and not close enough to all users, making video streaming, a choppy experience for those in far-off regions.

Solution - ENTER Theta – a revolutionary blockchain that maximizes functionality by serving user requests through a nearby edge server or by pulling streams from peering caching nodes. In short, from the nearby users through P2P.

Theta grants access to a global infrastructure for video content and data delivery -It provides esports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more. Essentially, it provides a better web experience for those participating (whether they're involved with content creation or viewing). And, the fact that this platform is decentralized ensures it is powered by users.

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