How & Where to Buy THETA (THETA)
Use THETA: Ways to send & spend THETA
THETA Price & Information
Current THETA price and historical price chart
What is Theta Token?
The Theta Network is a decentralized, peer-to-peer video sharing service aimed at providing high quality video content at a lower price than mainstream video service providers. With the goal of being the “next evolution of the streaming space,” the Theta Network plans to disrupt control of online video services from major corporations and re-empower content creators through decentralization. To accomplish this, the team will be building a new blockchain and protocol specifically designed to meet these goals. An ERC20 compliant token, the Theta Token (THETA) is the native currency of the network, rewarded to viewers for their participation in the network and contributed to content providers as a show of appreciation for their contributions.
History of Theta Token
The Theta Network was cofounded in 2017 by Mitch Liu and Jieyi Long, who had both previously co-founded the video streaming service SILVER.tv and had backgrounds in computer science and engineering. Some of their advisors include Justin Kan, co-founder of the massively popular streaming service Twitch, and Steve Chen, co-founder of YouTube. After bringing in $16 million in investor equity, the Theta Token ICO launched in January 2018, bringing in $20 million in the course of just one day. The token proved to be quite successful in the markets, generating a market capitalization of over $100 million within weeks after the close of its ICO.
How Theta Token Works
Within the context of the Theta Network, the Theta Token will serve primarily as “an incentive mechanism for a decentralized video streaming and delivery network.” It is used for micropayments that fuel the network, between advertisers, users and content creators. Micropayment records and organized via a novel blockchain mechanism known as “Proof-of-Engagement” (PoE). Under the PoE system, viewers can earn tokens as rewards from advertisers in exchange for their attention to video streams and by providing bandwidth on which the network runs. PoE not only benefits viewers but also advertisers by providing them with a reliable and verifiable measure of engagement of video streams. PoE is also used to reward content creators which is accomplished automatically by validators of the Theta blockchain.
Why Theta Token?
Theta Token helps to ensure the operation of the Theta Network, which provides many advantages over traditional video service providers, some of which include:
End to end decentralized video delivery. From content uploading, to storage, to delivery and transmission, there are now centralized sources involved in the Theta Network, making it impossible for any single party to censor or unduly influence their video provision service.
High quality, smooth video streaming. The Theta Network provides a framework for the delivery of efficient, reliable streaming of video to a global audience.
Reduced delivery costs. Video publishers and creators can use Theta Network’s utilities and services to produce their own videos, reducing the reliance on setting up their own video production infrastructure.
DApp friendly. The Theta Network’s open source protocol supports decentralized applications for a wide variety of purposes, including esports, movies, entertainment, education and enterprise conferencing.
Large user base. The existing Theta Network platform already supports over one million active users with plans to aggressively expand their reach and base.