Theta, the crypto project for a new use of videos
Theta, the crypto project for a new use of videos
Blockchain

Theta, the crypto project for a new use of videos

By Eleonora Spagnolo - 2 Jun 2020

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Theta is a crypto and blockchain project that has made headlines for a number of reasons.

The first of all is the partnership with Samsung, which has chosen Theta for broadcasting sports content. Theta TV content will be integrated into all top-of-the-range Samsung smartphones. When this news has been made official, the Theta crypto has experienced a high jump in its value. After that, Google Cloud was added as a validator. And Theta went higher and higher. 

What is Theta

Theta Network presents itself as a blockchain-based video content platform. Its goal is to make the streaming of content decentralized.

Theta builds on the current context, where a creator of content transfers it to a streaming platform, through which it reaches users. However, in most parts of the world, this system suffers from quality problems, and centralization implies a reduced gain for the creators.

Theta responds to this problem by creating a network where users who see content are rewarded in Theta Fuel tokens and are encouraged to share their bandwidth with other users.

The Theta project originates from Sliver.tv, a company committed to the development of video streaming technologies based on virtual reality and 360° projection. 

It is no coincidence that the founders of Theta Network are the same as Sliver TV: 

  • Mitch Liu. CEO and co-founder of Sliver.tv, a leading export platform committed to patenting new ways to enjoy these events in an increasingly immersive reality.  Liu is also known to be among the founder of Game View Studios, famous for the mobile video game Tap Fish, which boasts 100 million downloads.
  • Jieyi Long. He is the other co-founder of Sliver.tv, now also CTO of Theta, leading the technical team of the platform. He has already developed and obtained numerous patents for live streaming technologies in virtual reality and video games. 

The presence of Steve Chen, co-founder of YouTube, should be highlighted among the media advisors.

The roadmap of Theta

According to the roadmap, Theta plans to proceed in 2020 with the launch of the Guardian Nodes on the mainnet and with the support of on-demand video on the streaming protocol. The year will continue with the implementation of decentralized file-sharing with which users can share files such as game patches, applications and operating system updates. Finally, Theta intends to launch the Beta version of its protocol to adapt it to smart TV and devices that make use of the Internet of Things (IoT). These are the projects to be implemented by the first part of 2020.

In the second part, Theta plans to release support for smart contracts and a beta version for live video applications. 

Theta token and Theta Fuel

The token of Theta (THETA) in the last month has rapidly climbed the Coinmarketcap ranking. Launched in January 2018, it experienced its most dramatic moment in conjunction with the crypto market crisis in mid-March, when its value plunged to $0.03. 

News of the partnership with Theta relaunched the token until it peaked on May 27th, when it was traded at $0.55. That’s when the speculation started, which now brings Theta’s value to about $0.28, positioning itself 36th on Coinmarketcap.

A similar fate for Theta Fuel (TF), the token that rewards those who enjoy the contents of Theta. Launched in March 2019, it saw its black moment on March 13th, 2020 when it was worth $0.0009, before rising to $0.02 on May 25th, 2019, entering the top 100 of CMC. From there began a downturn that now sees the price of the coin at $0.009, in position 123. 

Eleonora Spagnolo
Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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