Might just be worth watching Theta Network over the next year or so.

Theta Network was originally a decentralized video streaming platform backed by the very same people who founded YouTube and Twitch. More recently, Theta Network has become an advanced decentralized video delivery and edge computing platform. It has evolved into a pioneer in hybrid cloud computing with its Theta EdgeCloud.

Theta leverages a global network of viewers who share their excess bandwidth to facilitate high-quality video streaming, significantly reducing costs and enhancing efficiency.

What problem does Theta solve?

Right now, on-line videos are cached in massive, centralized data centers.

So when everyone is trying to watch cat videos or stream YouTube, Odyssey or Twitch — they start buffering. This is only going to get worse as more and more videos and live streams are using higher-quality, data-intensive formats like 4K.

How am I expected to work if the cat videos I have autoplaying on my 2nd monitor aren’t loading?

 — We’ve all said this at some point.
Key Updates and Enhancements:

Theta EdgeCloud: Launched as a hybrid cloud computing platform, it combines the power of cloud and edge computing to support AI-intensive applications, particularly focusing on video, media, and entertainment.

AI and Mobile Integration: Theta has introduced mobile Edge Nodes for Android, allowing users to contribute computational power from their devices, which is pivotal for AI applications like video object detection, potentially scaling to other AI tasks like generative models.

Educational and Commercial Collaborations: Theta has expanded its reach in academia and industry, partnering with institutions like the University of Oregon for AI model training and Hankuk University for EdgeCloud AI services, showcasing its utility in real-world applications.

AI Services: Introduced AI-driven services like the RAG Chatbot for businesses, indicating a shift towards providing AI as a service over its decentralized network.

E-commerce and Entertainment: Collaborations for AI applications in e-commerce (like virtual try-on for Shopify) highlight Theta’s diversification into practical consumer applications.

Token and Ecosystem: The total supply of Theta tokens remains fixed, emphasizing stability in its economic model, despite occasional misinformation about token supply changes.

Introducing Theta

Theta is an open source blockchain solution that offers to alleviate the pressure on these data centers by opting to cache videos on a decentralized network of nodes.

Think of it more like a torrent service where multiple computers on the network cache the content, allowing for faster speed.

Theta uses the free bandwidth that’s sitting idle on the network as well as individuals’ computer resources to cache streams, which allows people who participate to earn rewards.

While Theta doesn’t intend to replace YouTube or other popular video platforms, it significantly reduces the cost for large businesses that can offset their reliance on expensive data centers while making their service more efficient. Additionally, since the videos are cached on a decentralized blockchain, user data is more secure. 

Many people are bullish about Theta because of their founding team as well as the list of large companies that are already working as validators on the network. Theta has been adopted by several large companies because they offset the reliance on large data centers for streaming.

Theta’s Team and Leadership

Theta boasts a team steeped in over three decades of online video streaming experience, spearheaded by CEO Mitch Liu. The advisory board features luminaries like Steve Chen of YouTube fame and Justin Kan, a Twitch co-founder, highlighting Theta’s deep roots in tech innovation.

With strategic partnerships and investments from tech giants like Samsung and Sony’s Innovation Fund, Theta isn’t just co-existing but expanding into AI and edge computing with Theta EdgeCloud, positioning itself at the forefront of decentralized technology ecosystems.

Theta is set to disrupt today’s online video the way that YouTube did in 2005.

– Steve Chen, Co-founder of YouTube

Theta’s Vision

Theta’s advisor (and co-founder of YouTube) Steve Chen laid out the problem and how Theta’s development can solve it moving forward. 

 

Theta has come a long way.

Theta Network, which once boasted a market cap over $5 billion, has seen its valuation fluctuate, currently standing around $1.21 billion as of October 2024, following the broader crypto market trends. Despite this, its peak price of approximately $15.90 in 2021 showcases the network’s significant potential and market interest.

Theta’s infrastructure is bolstered by notable enterprise validators such as Google, Sony, Samsung, and Binance, which contribute to processing transactions and securing the blockchain. This collaboration with industry giants not only validates Theta’s technology but also integrates it into a broader, more reliable network framework.

The network has pivoted towards AI and edge computing with Theta EdgeCloud, expanding beyond its original video streaming focus to include AI model training partnerships and practical AI applications. This strategic shift, combined with a fixed token supply, suggests Theta’s adaptability and long-term value proposition in the evolving tech and blockchain landscapes.

Here’s how things were looking a few years ago. Also why you need to take profits.

Vegas Golden Knights are on board with Theta EdgeCloud:

 

Katy Perry was on board.

Also,

@SecrtPineapple or the “Secret Pineapple Society” dropping NFTs like these:

 

Katy Perry’s involvement with Theta Network NFTs was significant in 2021, particularly with her Las Vegas residency and the launch of her first set of NFTs. However, there hasn’t been explicit confirmation or updates directly from Katy Perry or Theta Network in recent sources beyond 2021.

How Does the Platform Work?

Theta uses a Proof-of-Stake validation method.
It requires validators to stake their own Theta. This means if the node begins participating in fraudulent activity (deviates from the consensus of other nodes on the blockchain), the validator loses its stake.

This makes fraud expensive and impractical, better securing the Theta blockchain.

The minimum amount needed to stake is 1000 Theta.

A Decentralized Network of Nodes

There are three layers of nodes involved in making Theta run smoothly.

1st

Enterprise Validator nodes allow large companies to stake their Theta and to propose blocks of transactions to be added to the blockchain. There are currently 16 of these enterprise validators with the potential of more large companies coming on board.

The list of Enterprise Validators includes:

  • Google
  • Sony
  • Samsung
  • Binance

 

2nd

Next, are the Guardian Nodes. These are run by individual users.

Again, Theta is staked to validate proposed transactions and ensure they’re legitimate. There are more than 3,500 Guardian Nodes around the world, with a few on every continent except Antarctica.

As a side note, if you’re a penguin interested in getting into blockchain, we’d love to speak with you.

 

3rd

Finally, there are more than 100,000 Edge Nodes. These nodes utilize unused bandwidth and computer resources to cache videos. This is far less energy-intensive than building data centers. These require an enormous amount of energy to run and maintain (and keep cool). They also require rare metals that must be mined.

 

Peer-to-Peer Streaming

On the official Theta website, you can sign up to act as a node or a validator, essentially joining the network.

Theta also allows you to stream on Theta.tv video platform, Samsung VR, or other videos hosted by enterprise partners. Admittedly the list of decentralized video streamers isn’t very long yet but it’s growing.  

Joining the network lets you earn extra rewards for sharing their free bandwidth and resources, actually benefiting from supporting Theta. Video platforms today (like YouTube) are happily selling your data to third-party companies and making money off advertising. 

Since all of these videos are cached on multiple nodes, it is far more efficient to stream from anywhere around the world.

For new video platforms, it means they don’t need to invest in building expensive and energy-guzzling data centers.  

 

ERC-20 No More

Theta was originally launched as an ERC-20 token. Theta used Ethereum’s (ETH) existing blockchain initially. However, after 2019, Theta had developed its own mainnet blockchain network and transitioned the tokens onto it. This meant that you can no longer store these ERC-20 Theta tokens in Ethereum-based wallets like MetaMask.

Instead, you can need to use Theta’s the native wallet. Or you can store them in wallets like Exodus along with many other cryptos. But if you want to stake and earn, you need the native wallet.

Note – DApps on the Ethereum network can’t work on Theta. You’ll have to use apps like Theta Edge.

 

Recent Developments and Focus Areas

Theta has evolved, integrating AI with Theta EdgeCloud for large-scale AI applications, notably with academic partnerships like the University of Oregon. This pivot broadens Theta’s scope from video streaming into advanced tech sectors. Moreover, by maintaining a fixed token supply, Theta aims to offer stability and growth potential, appealing to investors focused on sustainability and technological innovation.

This version maintains the original format while incorporating recent updates and developments about Theta Network.

Staking, Rewards and Earning TFuel

Participating on the Theta network is pretty straightforward. All the software you need is available from Theta’s website. Rewards are calculated daily and paid out in “Theta Fuel” (aka TFuel).

As a Guardian node, you’d help ensure that only valid transactions are passed onto the blockchain. To stake as a Guardian, you need to put down at least 1000 Theta and pay a transaction fee of up to 1 TFuel. However, you can also join a staking pool, where multiple users put in small amounts of Theta to help host a single node. For validators, the current annual percentage yield is around 1.9%. If you stake 1000 Theta, at a price of $6.30 per Tfuel token, that interest will turn into 384.26, which at a price of $0.40 makes you close to $120.  

Theta’s All Time High reached $15.72 in April 2021.
via CoinGecko

TFuel’s All Time High was $0.68. 
As with all cryptocurrencies, the price over time is volatile but trending upwards. It looks like the current circulating supply is exactly 1 billion. No wonder it has a market cap of over 5 billion. 

If you are looking to purchase, Theta has a robust trading volume each day – around 250 million worth of exchanges per day. 

As an Edge node, your bandwidth and computer’s resources are used to help keep the decentralized network running, and videos streaming smoothly. To become an edge node, you must agree to cache user videos on the Theta computer app. You can stake a minimum of 10,000 and a maximum of 100,000 TFuel into one edge node, earning TFuel rewards for caching videos. Running edge nodes currently earns up to 2 to 4% annually.

Something to look forward to /

Conclusion

Theta Network, initially known for its video delivery system, has evolved into a pioneer in decentralized AI computing with Theta EdgeCloud, gaining traction for AI model training through partnerships like with the University of Oregon.

Its ecosystem now supports not just video but also significant AI applications, underpinned by a fixed token supply, enhancing its long-term investment appeal amidst a volatile crypto market.

Theta Network, originally conceived by founders from YouTube and Twitch, has transformed into a cutting-edge decentralized platform for video streaming and edge computing. A

As of 2024-25, Theta not only delivers high-quality video content efficiently but also pioneers in AI and edge computing with Theta EdgeCloud, enabling a new era of decentralized AI applications. By integrating mobile devices into its network, Theta empowers users to contribute to and benefit from a global computational grid, supporting everything from advanced AI models to real-time video processing, all while maintaining a robust, fixed token economy.

Opinions and information only.

DYOR

Sources

Official links /

https://www.thetatoken.org/

https://medium.com/theta-network

https://www.facebook.com/ThetaNetwork/

https://discord.com/invite/vCXJd5YKDt 

Twitter /