What’s THETA And Does It Have A Purpose?

Theta’s Crypto Currency token (THETA) may be a governance token that runs on the Theta network. These tokens support the blockchain and purpose to produce users with a present of functionalities.

Theta fuel (TFUEL) are tokens that are given out to investors who view streams on the network (with their excess bandwidth being utilized to share the stream with new viewers).

In May 2020, Theta announced a partnership with Google. As a part of the arrangement, Google power the cloud infrastructure of Theta, and Google users can deploy and run nodes on the network.

​We saw this as significant because it was the primary time Google had gotten involved within the cryptocurrency industry and was an encouraging sign for Theta’s standing within the crypto world. They heralded the deal as a ‘game-changer’ by Forbes.

Also, in May 2020, Theta and Samsung announced a partnership. The arrangement involves Samsung pre-installing Theta. Tv, the decentralized video streaming platform, on all new Galaxy S20 smartphones.

In November 2020, Theta announced a partnership with Nervos, a blockchain from China. As a part of the deal, Nervos will help to supply broadcast content on Theta.TV.

Here is a look at some of the highlights of Theta’s roadmap for 2021:

• Decentralized exchange (DEX) to be launched on the Theta blockchain (Q1)
• Official Theta app released for Ledger and Trezor (Q2)
• Theta mainnet 3.0 launch (Q2)
• V2 of Edgecast decentralized streaming Dapp (Q3)
• V2 of the Advanced Smart Contract developer platform (Q4)

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The Theta blockchain is incredibly efficient, with an average transaction time of just 3 seconds and handling 1,000 transactions per second.

Developers say that the project aims to rearrange the video streaming industry in its current form — centralization, poor infrastructure and high costs mean that end users often end up with a poor experience. Content creators likewise earn less revenue due to the barriers between them and end users.