Introduction – What is Theta
The last five years have really changed the way we watch content on the web and entertainment. Personally, it’s been a while since I have seen a movie in a theatre. Now, I mostly just watch Netflix or Hulu or any number of apps, right on my phone. Let’s not forget YouTube, Amazon Prime, and many more. It is super accessible and cheap.
I also don’t know a person who has never used any video streaming service.
Although I don’t think that video streaming services will totally replace theatres, OTT (over-the-top) platforms have established a new method and stream of business for the entertainment industry.
In 2020, the Video Streaming Industry had been valued at $50.11 Billion and was expected to grow by 21% every year till 2028.Reference: grandview (below)
However, with the growing business and user expectations, the industry Is facing several problems, such as:
The load time and video quality are not the same across the globe due to the fragmented infrastructure of the Content Delivery Networks (CDN).
Increased Data Needs
The infrastructure of these networks is struggling to meet users’ demand for higher video qualities such as 4k or 8k.
Centralized and Inefficient System
As these CDNs are centralized, they can control the content creators and the platforms. Further, there is little or no reward for a viewer.
Thus, the main problem narrows down to an inefficient centralized network that could halt the massive potential growth of this industry and even the internet.
So, what could be the possible solution?
- What if there was a blockchain-based network that everyone or anyone could control?
- What if normal users like you and me could contribute our daily unused bandwidth to the system that would resolve the platforms’ data needs?
- And finally, what if a network rewards its viewers for their contribution to the network?
Theta Network is precisely the kind of network that can resolve all the above issues. Let’s understand what it is.
Theta Network is a video delivery network supported by blockchain technology. It is a bandwidth-sharing protocol where users can share their spare bandwidth and comutor resources with other users. It enables other users to watch a high-quality video without any lag, and the user providing the bandwidth is rewarded for sharing as they get paid a small payment of Tfule. Users can contribute to Theta Network with a Laptop, Mobile phone, or a Smart TV.
Video platforms like YouTube, Netflix, Amazon, Hulu…can reduce their infrastructure cost for video delivery by integrating with the Theta Network. Further, these platforms will provide a better experience due to increased bandwidth and computing resources. Thus, Theta Network would allow these platforms to focus more on their business with huge cost savings.
From, Theta network: https://www.thetatoken.org/
From, Grandview Research: Video Streaming Report