How does Theta Network work?
Theta Network is a decentralized video streaming and delivery network that is powered by users and an innovative new blockchain.
Theta Network utilizes a dual-token system, with the Theta Token (THETA) used to incentivize users for sharing their computing and bandwidth resources, and the Theta Fuel (TFUEL) used to pay for transactions on the network. The core of Theta Network is its blockchain, which is based on a modified version of Ethereum’s protocol. This blockchain enables users to share their computing resources with others in order to stream video content more efficiently.
By sharing their resources, users are rewarded with THETA tokens as an incentive. This allows for a more efficient distribution of video content, as well as lower costs for streaming services. Theta Network also utilizes edge caching technology, which allows for videos to be stored closer to viewers in order to reduce latency and improve streaming quality.
This technology works by storing copies of videos on nodes located near viewers, so that when someone requests a video it can be served from the closest node instead of having to travel all the way back to the source server. This reduces latency and improves streaming quality significantly. In addition, Theta Network has developed its own decentralized CDN (Content Delivery Network).
This CDN allows for videos to be streamed directly from user devices instead of having to go through centralized servers. This further reduces latency and improves streaming quality while also reducing costs associated with hosting videos on centralized servers. Finally, Theta Network has implemented its own consensus algorithm called Proof-of-Stake Time (PoST).
PoST rewards users who stake their THETA tokens in order to secure the network and validate transactions. By staking their tokens, users are rewarded with TFUEL tokens as an incentive for helping secure the network. Overall, Theta Network is an innovative new platform that combines blockchain technology with edge caching and decentralized CDN technologies in order to create a more efficient video streaming experience at lower costs than traditional methods.
