The crypto streaming service Esports turns bandwidth into profit

  • Theta is a blockchain project that underpins a peer-to-peer video streaming network that rewards many of its 1 million monthly users in exchange for unused bandwidth.
  • Theta’s market value has risen to around $ 6 billion and is in the top 20 digital tokens.
  • Unlike many other large crypto projects like Bitcoin, Theta is still heavily centralized.

One of the major drawbacks of most cryptocurrencies is that they have little real use outside of speculation.

For digital token theta, blockchain projects support peer-to-peer video streaming networks that reward many of their 1 million monthly users in exchange for unused bandwidth. According to data from CoinMarketCap.com, the market value of Theta has risen to around $ 6 billion this year after rising more than 300%, making it one of the top 20 digital tokens.

Sony and Samsung Electronics are one of the industry giants behind the efforts of esports live streaming startups. Investors like Sony also rely on coins. This is the process used in validating transactions that create new blocks on the blockchain network. In return, they will receive rewards in the form of secondary tokens called TFuel. The value of TFel has risen to about $ 2 billion.

” [Theta] The tokens have increased more than 100 times since we invested, ”said Samuel Harrison, managing partner of Blockchain.com Ventures. This partner holds stocks, holds coins, and acts as a verifier of transactions. Cent. It’s about $ 6 now.

In addition to watching live streams and movies from video games like MGM, Theta network users can also share bandwidth with others to earn Tfuel tokens.

“Many viewers can earn between $ 5 and $ 10 a month,” said Mitch Riu, CEO of Thetarabo, in an interview. “It’s important in developing countries and it pays half your Netflix subscription,” he said, with the average Theta.tv user watching about 63 minutes a day.

Theta’s audience hasn’t grown, but Liu says it’s been stable for years. “We made a strategic decision not to compete with YouTube,” he said. The co-founder of YouTube and Twitch is one of the company’s advisors.

Instead, the company is expanding its range of services. It’s also built into NFT, which is a non-fungible token. These are usually digital arts recorded on the blockchain. Singer Katy Perry said this week that she will make her performance NFT available on the network and acquire a private stake in the company. Theta Labs also launched a decentralized exchange in the hopes of a more decentralized finance app (DeFi) that users can borrow, lend and trade on a peer-to-peer basis.

“Both Compound and Uniswap can run on Theta without any code changes,” Liu said of two of the most popular DeFi apps launched on the competing Ethereum blockchain.

Unlike many other large crypto projects like Bitcoin, Theta is still heavily centralized. Theta Labs owns about half of the 16 major validation nodes that create blocks. However, there are also thousands of so-called Guardian Nodes that anyone can set up to verify that the transaction was processed correctly and to complete the lock. Theta Labs owns 20% of all Theta supplies and private TFuel tokens.

When Liu and co-founder Jieyi Long started the company in 2015, it was called Sliver.tv and was supposed to focus on live virtual reality streaming for video game tournaments. With millions of streaming service users in Brazil and Eastern Europe, we found that delivering video to these parts of the world was expensive and the quality of the video was poor. As a result, the company switched to using blockchain for video distribution and conducted a private token sale worth $ 20 million for Sliver.tv subsidiary Theta Labs in late 2017.

Faced with many competitors in the video category, such as VideoCoin and Livepeer. The cryptography company Tron owns BitTorrent, a popular file-sharing software for videos.

Cryptography investor Aaron Brown, a contributor to the Bloomberg Opinion, said, “Price is basically tracking Bitcoin and there are no big ups and downs. The technical news is okay, but not overwhelming. “

But theta stock investors like venture capital firm DHVC are believers, not speculators.

“This is not just a financial incentive or a goal, but actually creates a new ecosystem,” said DHVC partner Ali Farahanchi in an interview. “This is a new way of doing business when you have a streamer that can add compute time to your network. It’s a kind of decentralized streaming. We’re just getting started. “

Source: News24

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