DePIN, Entertainment, SocialFi, NFT
About Theta Network
Theta Network is a decentralized video streaming and delivery network powered by users and an innovative new blockchain.
It enables users to earn rewards for sharing their bandwidth and resources, as well as for providing content to the network. Theta Network is designed to reduce the cost of delivering streaming video, while improving the quality of experience for viewers. The Theta Network consists of two components: a blockchain-based protocol layer and a decentralized peer-to-peer (P2P) network layer.
The protocol layer is responsible for verifying transactions, maintaining consensus, and providing incentives for users to share their resources with the network. The P2P layer is responsible for routing data between peers in the network, allowing users to stream video directly from other users instead of relying on centralized servers. The Theta Network incentivizes users to share their bandwidth and resources by rewarding them with its native cryptocurrency, Theta Fuel (TFUEL).
Users can earn TFUEL by sharing their bandwidth with other peers in the network or by providing content such as videos or live streams. This allows content creators to monetize their work without relying on centralized platforms like YouTube or Twitch. The Theta Network also has an off-chain scaling solution called Guardian Nodes that allow it to process more transactions than traditional blockchains.
Guardian Nodes are run by trusted members of the community who are rewarded with TFUEL for their efforts. This allows the network to scale more efficiently while still maintaining decentralization and security.