Theta Blockchain Explained - Part II

Theta Blockchain Explained - Part II


The main streaming platform on the Theta network is Theta.tv - where content creators can live stream and get paid through credit card donations, subscriptions, and TFUEL (token rewards- native to the theta blockchain). Users can tip creators with TFUEL- now the obvious question is where do users get TFUEL from? Well, the network rewards users for watching the live stream. It's an excellent economic model wherein users give donations to creators in the same currency they are getting paid & being entertained on the platform.

Point to note- opt for streams with an orange TFUEL icon on the top right in order to earn TFUEL. For those who want to understand how and why they reward users- Theta rewards users for sharing the already downloaded and cached portion of the video they are watching, with other nearby users that are watching the same content as they are at the same time. 

And there's more- The theta.tv dapp is set to be included on Samsung Galaxy phones in the future. If and when this happens, Theta will be able to garner a massive worldwide following.

Simply put Theta.tv is a proof of concept of how the network can be leveraged by ANY video delivery platform using their current standard CDNs as the 1st layer and then overlapping Theta network's P2P bandwidth sharing as a 2nd layer which results in decreasing the cost and delays and increasing the quality.

Tokenomics- Theta token and TFUEL

Theta token and TFUEL are the two cryptocurrencies that are native to the Theta blockchain. Together they make up the economic system of the Theta network. A little about each one of them-  Theta token With a capped supply of 1,000,000,000 tokens, this is the governance token of the Theta blockchain. This token's governance aspect is still in its infancy and it's primarily used for staking, running a node, and earning a proportional amount of TFUEL. TFUEL Its use is similar to that of gas on Etheruem, it is the utility token of the network. TFUEL can be earned in 4 ways- by viewing content on the network, by becoming a content creator and earning donations/subscriptions, by simply providing bandwidth to the network by running a caching node, or by Theta.tv bandwidth sharing which is technically different than running a caching node and instead is done directly through the browser/site.

The Future

Theta with its revolutionary and innovative blockchain technology has managed to catch the eyes of some big hitters. These include the Co-Founder of YouTube, Steve Chen, and Justin Kan, the Co-Founder of the gaming streaming platform, Twitch amongst others.

The best thing about Theta is that it isn't trying to replace or take over any live streaming platform like Youtube instead its intention/purpose is to provide an infrastructure that is decentralized and cheaper.

Theta has managed to collaborate with Lionsgate for streaming content on Theta.tv.  Theta added CAA, the Hollywood Powerhouse as a validator alongside seven other external Theta Enterprise Validator and Governance Council members, that include Google, Samsung, and Sony, as well as major private equity and cryptocurrency firms.

It also has a non-fungible token (NFT) marketplace called ThetaDrop.

After the launch of Theta 3.0 on June 30, token holders will gain the capability of staking and burning TFUEL. It is one of the most awaited events for Theta community.

For more info on Theta, click on the link for their docs. https://docs.thetatoken.org/docs/what-is-theta-network

Theta community has already started building the Theta ecosystem. Q1 2021 Theta hackathon featured some great projects like HarkTV, Minty, Thetascan and these will only propel Theta ahead. Theta has some big players backing it and with growing partnerships, I have exceeded expectations from this network. Do you share your thoughts?

I do have an account on theta.tv which you can use to sign up. https://www.theta.tv/invite/ms2i42


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