Theta Token (THETA) is set to have a big Spring with the upcoming launch of the network’s mainnet and new mobile wallet. But, before we jump into the details of what’s planned for the next few months, it’s important to understand a little more background on Theta Network.
Under the Hood
In short, Theta is attempting to disrupt traditional Content Delivery Networks (CDNs), which provide the backbone infrastructure that delivers video streams to the end viewers. The architecture leverages a decentralized set of user-ran computing nodes that work to cache data, enabling a more efficient streaming system. Theta is initially focused on two major categories of video streaming, live and on-demand.
With live video streaming, content creators publish onto what are called ‘ingest nodes’ that run on computers contributed by the user community. These ingest nodes are responsible for transcoding the video stream to different bitrates and resolutions. From there, the caching nodes pull the video streams and relay the data to the end viewers.
For on-demand streaming, the only difference is that content creators upload the source video file to a storage system for later retrieval.
To facilitate this architecture, Theta is currently building out its protocol. As outlined in the Theta white paper, the protocol incentivizes the major players in the decentralized system, including caching nodes, content creators, advertisers and viewers. Caching nodes earn THETA for caching and relaying video streams to other views, while advertisers are able to fund ad campaigns with tokens to support content creators, streaming sites and viewers. These viewers, in return, can give their tokens to their favorite influencers and content creators.