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What is THETA coin?
Theta is a blockchain and token that will be used to power a decentralized video streaming and delivery network. The Theta Token functions as an incentive mechanism that encourages users to share their unused memory and bandwidth, serving as video caching and relay nodes for the network.
Theta will be an open-source project that will be shared with industry and community participants, and our long-term vision is to have all video platforms participate in the network by building Dapp on top of the Theta protocol. Applications such as TV, movies, esports, music, education, and enterprise conferencing can benefit from building on the Theta Network. Theta ERC20-compliant tokens are live and fully integrated into the SLIVER.tv platform as of December 2017. The new native blockchain and protocol is planned to go live in Q4 2018, at which point each ERC20 token will be 1:1 exchanged for native Theta Tokens.
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How does THETA coin work?
Theta Network leverages three core features:
- Modified BFT consensus mechanism: a modified BFT consensus mechanism that allows thousands of nodes to participate in the consensus process, while still supporting more than 1,000+ TPS.
- Off-chain pool for micropayments: a system that relies on a set of guardian nodes to keep a signature through the partial aggregation of signatures from its neighbors before gossiping it out the aggregated signature. Through this system, it allows the signature share of each node to reach other nodes at an exponential rate while keeping the communication overhead small.
- Aggregated Signature Gossip Scheme: built for video streaming purposes, it allows users to benefit from an off-chain micropayment pool.”
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