Theta (THETA) is a cryptocurrency that operates on a blockchain network designed specifically for video streaming. It was launched in March 2019 to create a decentralized platform where users can share their bandwidth and computing resources in a peer-to-peer manner. The project has received guidance from renowned industry experts such as Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.
One of the key features of Theta is its native cryptocurrency token, also called THETA. This token is used for various governance tasks within the network. Notable industry players like Google, Binance, Gumi, Sony Europe, and Samsung act as enterprise validators for the network, along with thousands of community-run guardian nodes.
The main objective of Theta is to revolutionize the current state of the video streaming industry, which is plagued by issues like centralization, inadequate infrastructure, and high costs. These problems often result in a subpar experience for end users and lower revenue for content creators due to the existing barriers between them and the audience.
To achieve its goals, the Theta team has developed a customer-focused business plan that encompasses various services in esports, music, TV, movies, and education. Notable partners of the Theta Network include Samsung VR, Cinedigm, Shout! Factory, Pandora.tv, Play Labs, and THETA.tv, among others.
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