Theta is advised by the co-founders of YouTube and Twitch and announces a blockchain-based video delivery network

CUPERTINO, California – (BUSINESS WIRE) – By 2020, 82% of all internet traffic will be video. The video content and streaming market currently accounts for 67% of internet traffic and is a billion dollar industry that continues to explode. However, today’s ecosystem is highly centralized and inefficient, resulting in poor quality streaming, high content delivery costs, and limited return flow of revenue to content creators. The problem is only exacerbated with new streaming technologies such as 360 ° Virtual Reality (VR). The solution is a decentralized peer-to-peer network that uses the power of the blockchain.

Theta Labs (www.thetatoken.org), a subsidiary of SLIVER.tv, a leading VR live streaming company, announces a decentralized streaming network powered by users and a new native blockchain. The founding team has over 30 years of video streaming experience with consultants including Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

Theta is an open source protocol specially designed to power the decentralized streaming network. It enables the creation of vertical decentralized apps (DApps) on the platform to enable esports, music, TV / movies, education, corporate conferences and peer-to-peer. To peer streaming and more. The DApp from SLIVER.tv will be the first application that is based on the Theta network and uses the existing user base of millions of esports viewers.

The core of the network enables users worldwide with unused PC bandwidth and resources to cache video streams and forward them to others in the network and in return mine theta tokens, similar to Bitcoin and Ethereum. This is especially valuable in many parts of the world with a spotty internet connection. Imagine a user in the middle of Brazil goes to sleep with their computer on, wakes up in the morning and has made a few dollars by running their Theta app in the background. The decentralized peer-to-peer network enables much more efficient streaming of high quality. Publishers and content creators no longer need to develop expensive infrastructure to enable original content creation and novel business models.

The Theta blockchain is the only end-to-end infrastructure for decentralized video streaming and delivery that offers both technical and economic solutions and uses:

• Reputation-dependent mining – When a caching node mines a new theta block, it calculates a reputation score for itself. The reputation score is a measure of the amount of video stream data that has been forwarded in a current time window. A high reputation score increases the block reward and encourages the caching node to forward more videos.

• Global Reputation Consensus – When a new block is mined, all Caching Nodes must check the reputation score of the Caching Node that mined the block and thus form a global consensus on the block reward.

• Proof-of-Engagement – Proves that the viewers are right to consume the video streams, which provides transparency for advertisers and provides a basis for viewers to earn theta tokens in return for interacting with the content.

“We’ve been on the cutting edge of live streaming technology and we can really transform the video and entertainment industries by leveraging blockchain,” said Mitch Liu, co-founder and CEO of Theta Labs, Inc., a wholly owned subsidiary of SLIVER. tv. “Theta is uniquely designed to leverage the blockchain’s incentive mechanisms so that end users can leverage their excess PC bandwidth and resources to relay video streams to others while earning theta tokens. It’s a win-win situation for everyone involved in the ecosystem. ”

“Theta’s innovation will disrupt today’s online video industry much like the 2005 YouTube platform did. One of our biggest challenges was the high cost of delivering video to different parts of the world. The problem only gets bigger with HD, 4K and higher quality video streams, ”said Steve Chen, YouTube co-founder. “I am excited to be part of the next evolution in streaming and to help Theta build a decentralized peer-to-peer network that offers improved video delivery at a lower cost.”

Other advisors include Professor Shoucheng Zhang, founder of Danhua Capital, Fan Zhang, founding member of Sequoia Capital China, Travis Skewers, founder of CoinMkt, one of the first US Bitcoin exchanges, Rajeev Surati, MIT Phd in video compression and streaming, Sebastian Serrano Cliff Morgan, CEO of GFUEL, Sam Wick, head of UTA Ventures, and Dennis Fong, CEO of Plays.tv aka “Thresh”, the Quake / Doom world champion.

In December, Theta ERC20-compatible tokens will be implemented on the SLIVER.tv platform as application tokens for virtual gift and incentive streamers. In addition, they are used by advertisers and brand sponsors to fund their advertising campaigns and support key content creators. These ERC20 tokens can be exchanged 1: 1 for native Theta tokens at the start of the new blockchain, which is planned for the fourth quarter of 2018. Pre-registration is now possible for public token sales from January 2018.

Please see Theta’s whitepaper for more information.

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About Theta Labs, Inc .:

Theta Labs, Inc. is a wholly owned subsidiary of SLIVER.tv, a leading esports live streaming platform with over 1 million monthly active users. SLIVER.tv is made up of top-tier Silicon Valley VCs such as Danhua Capital, DCM, Sierra Ventures, the Venture Reality Fund, leading Hollywood / media investors such as Creative Artists Agency, BDMI, Greycroft GC Tracker, Advancit Capital and Top with $ 17 million finances Japanese mobile gaming companies like GREE and Colopl. The company also holds four patents, the most recent of which addresses the problem of creating highly efficient spherical videos for VR 360 ° streaming. For more information, please visit www.ThetaToken.org.