Blockchain is reimagining the video streaming of tomorrow

theta network

With the creation of Theta Labs in 2017, the ambition is to develop a form of video streaming, especially for video games. It positions itself as a direct competitor to the Twitch streaming platform, but it aims to provide a superior user experience. By using blockchain technology, Theta believes it can deliver better quality at lower costs. In fact, one of the main difficulties faced by the current industries today is the level of cost of bandwidth, which is worth several million dollars every year, and business models are mainly based on “pay-per-view” models. bandwidth” or “pay-per-storage”, which can represent a significant portion of operating expenses. To overcome these drawbacks, the decentralized platform encourages users to put their bandwidth into the service of the community for streaming videos, and in return for payment in the form of digital tokens.

Let’s dive into the heart From the Theta network ecosystem

As a preamble, I would like to tell you what a “node” (“node” for the Anglo-Saxon version) represents on the blockchain. This computer term represents a machine that is part of a peer-to-peer network (“peer-to-peer” for fans of the Shakespearean language). In contrast to the “client-server” mechanism, the “peer-to-peer” model is symmetric, that is, each node has the same rights as all other nodes. A small graphic for more visuals between you:

client-server mechanism

Peer-to-peer mechanism

In the case of a blockchain, a node corresponds to a computer that holds and maintains a copy of the ledger of all transactions through its interactions with other users. Thus, each node carries the same information about the executed processes, and thus allows respecting all the rules in order to ensure the integrity of the system. Therefore, if a node fails, the entire system will not be called into question, because another node will take over. It is these nodes that validate transactions on the blockchain, and the multiplicity of these “nodes” ensures the robustness of the system. One last clarification before returning to our decentralized platform.

Source: cea.fr

Multi-tier consensus system

Theta relies on a mechanism called “Byzantine tolerance for error”, This allows thousands of nodes to participate in organizing the network. The goal is that a group of nodes, between 10 and 30, can form a verification committee, thus producing blocks (transactions that fit into the block) as quickly as possible. Then, thousands of other nodes check and terminate the chain created by the authentication committee. Below you will find all Theta network nodes:

Live web stats

Thetatoken.org

You’ve certainly noticed that different types of nodes coexist together: edge node (yellow), Guardian node (blue), Enterprise validation node (red). Let’s separate together.

auditor contract

These are nodes owned by large corporations that ensure that new blocks are created as well as validated on the blockchain.

Source: Thetatoken.org

trustee contract

These nodes make it possible to check the compatibility of new blocks that are built by the Validation Nodes. It also works against malicious and malicious checker nodes. If you want to become a Protector Node, you will need: 1000 Theta (native token of THETA network) locked into the node, 5 Mbps speed, 8 GB RAM and a 4 core processor. There are currently 3,515 on the network. By locking in your 1000 THETA, you will be rewarded with a TFUEL (we will break down its benefit a bit).

edge hold

They make it possible to migrate video streams on Theta network and generate TFUEL. This system makes it possible to broadcast video streams from peer to peer while providing a boost to Theta.tv, for example, as an “edge node”, it is possible to set various tasks such as downloading a video, solving an equation or increasing computing power. Every connection point interacts to provide the best possible service to the users. Do not worry, you will not have to perform pharmaceutical calculations, the respective node performs operations independently thanks to an integrated algorithm.

We talked about two Theta cryptocurrencies: THETA and TFUEL. We’ll see its usefulness here.

Theta Token (Theta)

It plays the role of system governance. It is used, as we have seen, by locking them to run different types of nodes. By locking theta tokens, we generate theta fuel.

Theta fuel (TFUEL)

It allows interaction with many elements on the Theta network (defined as the operational code). It serves as a way to reward Theta.tv viewers. Based on the time they spent. It can be considered as a reward token. When you watch the streams, you will be rewarded with TFUEL. When the edge node owns the network, the increased bandwidth is used by the network to share the broadcast with other users. Thus it is possible to earn TFUEL 24/7. It is also used to make donations to your favorite streaming channels or buy goodies from TFUEL Store.

Shop Tfuel

Source: legacy.theta.tv

Summary: The value of leadership

  • become a streamer : Payment is made in TFUEL through Theta platform according to the number of viewers (speculators) and on the other hand thanks to donations from the community.
  • Stream viewer : By viewing it, you will receive a TFUEL which will be added to your account. It is important to note that as a simple bystander, you will not be able to withdraw tokens. You can either donate to your favorite streaming channels, spend it on Theta Store, or do nothing.
  • have a knot : As we saw earlier, having a “parent node” or “edge node” allows you to earn more in TFUEL than you pay in a simple viewer. For the first, it will be necessary to block a large amount in the node, and for the second, it will be necessary to make excess bandwidth available to your computer. This time, you will be able to transfer it to your Theta wallet to exchange it for another currency.

Home theta.tv

Source: thetat.tv

Do not expect to achieve additional income that will allow you to radically change your standard of living. Obviously, how much value comes from having an “edge node” will depend on your computers and your internet connection, but to be completely accurate we’ll have to subtract the gains with the cost of the electricity we had to use to power the currents. For example, in a week I was painfully able to generate 10 TFUEL with a watch time of about 7 hours/day (at current prices, that’s $3.30). I, who had hoped to calm down by contributing to the operation of Theta.tv, failed… But for traders and investors, TFUEL and THETA have a course.

price and performance

THETA token is up more than 300% since the beginning of 2021 with a price tag of around $8.30 and a market capitalization of nearly $8 billion.

Theta Token Price (2020-2021)
Source: ProRealTime

For its part, the TFUEL token has risen more than 1100% since the beginning of the year, causing the price to rise to $0.39, bringing the market capitalization of the asset to nearly $2 billion.

TFUEL Token Price (2020-2021)
Source: CoinMarketCap

Theta has good press in the crypto world and counts on real heavyweight companies as a partner, such as Binance, Google or Samsung. On the other hand, the site is still a bit deserted on the number side and even on the French signage side. It offers many features similar to the giant Twitch, such as commenting on live broadcasts, sharing of gifts/rewards, possibility of making donations… The technology offered by Theta is exciting and ambitious but it still needs to be developed to be massively adopted by the general public. Especially thanks to the more intuitive interfaces in different languages. This new site could be the future of broadcasting as always Top You could take advantage of it, or maybe Theta would sink into the abyss if adoption didn’t exist. Who knows, in a few years I might be doing Zonebourse reviews on Theta.tv. At the moment, the dependence is still in the investment / speculation stage on two cryptocurrencies that can be exchanged on different platforms.

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