Theta Labs Announces Decentralized, Blockchain-Based Streaming Network

Video streaming is becoming an increasingly important part of the way that the world consumes and creates media. It is estimated that video streaming will comprise 82% of all internet traffic by 2020. The global infrastructure for video streaming at the current moment in time is highly centralized, with most of the market belonging to Netflix, YouTube, Amazon, and Hulu.

As video quality improves, the amount of bandwidth required to stream video increases, leaving those without reliable internet access with limited access to online video content.

Theta Labs, a subsidiary company of SLIVER.tv, hopes to decentralize the video streaming industry with a new blockchain-based platform that provides an innovative solution to provide those with low bandwidth access to high-quality video content.

A Platform for Creators and Consumers

Theta hopes that their network will empower publishers and content creators by providing a low-cost network to connect with media consumers. According to Theta Labs, Dapps can be built on the Theta Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term that will “enable esports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more.”

Theta Lab’s new platform will be provide a special set of benefits for areas of the world that have unreliable access to internet Connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term. Theta Labs advisor Steven Chen, who is also one of the co-founders of YouTube, said that one of YouTube’s biggest obstacles has been the high cost of streaming video to such regions.

Chen is hopeful about the solution that Theta Labs is presenting to this problem, saying that he is “excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs.”

In addition to Steven Chen, Theta Labs has a roster of at least eight formidable technical and financial advisors. Included on the list are Justin Kan, co-founder of Twitch; Sebastian Sorrento, founder of the blockchain-based, peer-to-peer credit lending network Ripio; and Fan Zhang, founding member of Sequioa Capital. Rajeev Surati, who holds a PhD in video compression and streaming from MIT, is also listed.

How Will it Work?

The Theta Labs platform will allow anyone with a surplus of PC bandwidth to become a 'streamer' who caches and relays video to other users in the network. The streamers are then rewarded with Theta network tokens. The announcement of the Theta platorm invites us to imagine that “a user in the middle of Brazil goes to sleep with his computer on, wakes up in the morning and has made a few dollars by running his Theta app in the background.”

The ERC20 tokens that will be used to power the Theta network will be implemented in December of 2017. More specifically, the tokens will incentivize streamers and will be used by advertisers and brand sponsors to fund campaigns on the SLIVER.tv network. The ERC20 tokens will later be exchanged for native Theta tokens when the blockchain officially launches in Q4 of 2018.

The Theta token sale is scheduled for January of 2018; pre-registration for the token sale is now open.