Do you have a business in the video content industry and looking for a decentralized network of video content sharing securely and most cheaply? If so, here the “Theta Network” came into the concept. A Theta network is the smartest way of performing various activities in living the video content industry, where to run the business, millions of videos are shared by the company which generates millions and trillions of data regularly. Handling this generated data is itself a hectic task so here Theta network provides an ease to the video content industry. Now, you are thinking how? Well, to get the answer to your how to read the complete note today this article will discuss the Theta network and explore how it brings new and effective ideas to the video industry. Without wasting more time let's get started!
What is Theta Network?
Theta network is a decentralized network that aims to provide a nonstop and the fastest stream of videos without having even a single network interrupt. It works as a peer-to-peer model which means it can never b stop and provide continuous video streaming.
It helps video streaming websites share their content efficiently and cheaply by reducing the total amount of data. It is done by using a specialized network called Theta, where each people can send the video content to each other, and in return, they can earn a reward. In simple wording, Theta networks pay the people to help share video content over the network and this way, various websites such as youtube can get rid of expensive data-sharing costs.
Theta network doesn’t aim to replace youtube it aims to provide the cheapest and the most efficient way of video sharing in a decentralized network. It came up with new business ideas as well as brings new effective ideas for the video industry such as:
- It is developed by using blockchain technology which means a single transaction will be transparent and secure.
- It creates a decentralized and democratic network for the video content industry
- It works in a peer to peer networks and unlike other peers to peer networks, it incentivizes the participants
- More incentive invites more participants which make the network fast and less congestion
- It is the traditional way of video content sharing that increases the speed and decreases the cost of video content-providing industries.
How Theta Network Uses Two Tokens?
There are mainly two tokens used by the Theta network the first one is Theta Token (THETA) and the second one is Theta Fuel (TFUEL). Let’s discuss both types one by one:
Theta Token (THETA): THETA is the native currency of the Theta network which helps to secure the network. It is used as long-term staking and allows the Theta holders to become validators. Like all other decentralized network validators, here is also each transaction is validated by the validator nodes. A node with a large number of tokens can also have a high chance to become a validator.
Theta Fuel (TFUEL): TFUEL, is another type of currency over the Theta network and it is used as a fuel to run the network. This means the basic task of the entire network is video content sharing between the users and the participants who participate in the network to share the video will be rewarded by the TFUEL.
Theta network is come up with advanced features for the evolving market of the video content industry. It aims to provide an effective, efficient, and less expensive way of video sharing. Theta network is a decentralized built-on blockchain network which means is completely secure and each transaction will be validated by the validator nodes in the entire network. It invites the users to become a part of the network and earn rewards in return for performing various tasks such as video sharing. Theta network mainly works on its two major tokens THETA and TFUEL.