Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams,” said Steve Chen, Co-Founder of YouTube.
He added, “I’m 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 its whitepaper Theta explains about the problems and their solutions that the online video industry is facing today.
Live video streaming of today
- Low quality video streaming
Today’s content delivery networks (CDN) lack reach, causing pauses, skips, and lower quality video to many parts of the world.
- High cost of streaming infrastructure
Publishers absorb the high cost of operating a CDN, leaving less revenue to pass on to content creators.
- Centralized and inefficient ecosystem
The centralized nature means less revenue flows back to content creators and results in less innovation.
Viewers get low-quality streaming and few rewards from the existing ecosystem. Platform and advertisers reap most of the rewards. Content creators can do better.
Decentralized video streaming, powered by users and an innovative new blockchain
- Viewers earn rewards as Theta tokens for sharing bandwidth and resources, a viewer can now earn Theta tokens as a direct reward and share it back to the creators.
2. High quality, smooth video streaming
A peer-to-peer decentralized CDN delivers streams efficiently throughout the world.
- Reduced cost of delivering video streams
Publishers and content creators no longer need to develop expensive infrastructure, allowing for more innovation and unique business models.
In the end, users benefit the most by significantly reducing the costs of delivering video streams. Content creators and platforms all earn more.
Anticipated Use of Funds
- 60% Software development R&D
- 20% marketing, community development
- 20% Operational, legal expenses
It’s a unique field; the Theta team is working on. A wonderful journey to the insights of this platform that amazed me by its mind blowing roadmap.
Backed and advised by the likes of YouTube co-founder, Steve Chen, and Justin Kan, the co-founder of the live streaming video platform, Twitch, Theta’s platform is set to disrupt the modern online video industry.