Theta is a decentralized video platform based on blockchain technology. This innovative platform provides technical and economic solutions to the problems facing the streaming industry. For the video industry, high resolution video represented by 4K and 8K is rising rapidly. However, due to the bottleneck of content loading speed, the development of high resolution video has been limited, which is also known as the "last kilometer" of video transportation by industry insiders. Theta blockchain aims to solve the problem through distributed CDN technology.
Specifically, users are rewarded with tokens for contributing their excess bandwidth and computing resources. Theta's technology is somewhat similar to the peer-to-peer technology of old, with using distributed nodes to speed up the video network. As we all know, traditional centralized content distribution network CDN needs to build large-scale base stations, which not only requires huge investment, but also can not guarantee the efficiency and quality of network transmission.
THETA is an open source protocol that provides support for distributed streaming networks and allows distributed applications (DApps) to be built on top of the platform to support esports, music, TV/movies, education, corporate conferencing, peer-to-peer streaming, and more. Sliver. TV's DApp was the first app built on the Theta network, and in November 2018, Tencent Games announced a partnership with Sliver. TV to bring Theta rewards to elysium players. Its founding team, which includes YouTube co-founder Steve Chen and Twitch co-founder Justin Kan, has more than 30 years of experience in video streaming.
The THETA project introduced the THETA blockchain to address the challenges facing the video streaming industry today. First, the project uses Theta tokens as a reward mechanism that encourages users to share idle computer memory and bandwidth resources, becoming cache nodes for video streaming. This method can solve to some extent the main bottleneck of traditional streaming media distribution network (CDN), which is the so-called "last mile" distribution problem. Secondly, when the number of cache nodes is sufficient, most users can grab streaming media from peer cache nodes, thus reducing the bandwidth cost of content distribution network and the operating cost of major video streaming media websites. Finally, through decentralization, Theta tokens could make the streaming market more efficient, for example by allowing advertisers to target end viewers at a lower cost and reward influencers and video content providers more transparently.
Theta Labs is a wholly owned subsidiary of Sliver. TV. Sliver. TV is a leading esports live streaming platform with over 1 million monthly active users. Sliver. TV raised $17 million from silicon Valley's top venture capitalists, Investors include Danwa Capital, DCM Ventures, Sierra Ventures, Venture Reality Fund, leading Hollywood/media investor Creative Artists Agency, BDMI, Greycroft GC Tracker, Advancit Capital, and two Japanese mobile game companies GREE and Colopl. The company holds four patents, including one for generating efficient spherical video for 360-degree VR streaming. In addition, Sliver. TV has patented technology that takes viewers into a 360-degree VR virtual world, allowing viewers to switch between viewing angles to encourage more interaction with esports games.