What is the Theta Network? Interview with Wes Levitt with Grace Pham

By Le Thanh | Interview / AMAs

Theta Network AMA

Sequence chain AMA with potential Blockchain projects, Coin98 had a lively discussion with Wes Levitt - the head of strategy at Theta Labs.

The following are key contents summarized during the last AMA.

Theta is a network specializing in distributing videos built on Blockchain technology.

The platform allows suppliers and users to use video-related services such as: Live broadcast of sports programs, esports; create videos related to education and conferences.

Besides, users can upload their own creations so that their friends can watch the video with the best video quality, the widest spread and the best cost thanks to the technology. math of the platform.

Currently, video distribution networks do not have high access to underdeveloped countries. Moreover, the current infrastructure is not good for the acceleration needs that the Theta network will face due to 4K, 8K technology, virtual reality and other developments.

Theta is building a peer-to-peer (P2P) network to address current issues. Meanwhile, blockchain is still used to serve users, keeping the distribution network high performance and not clogged.

Theta Network's innovations are based on technical factors such as Multi-BFT consensus, Aggregated Signature Gossi Program and Resource-Oriented Micropayment Pool and streaming ecosystem providing many technical and economic solutions.

What is THETA?

THETA is the governance token of the Theta protocol. This token is used to stake and produce new blocks, as well as to vote for protocol administration and administration.

What is Theta solving?

Theta Network will help distribute content at a more affordable cost to platforms to attract users. Users participating in content sharing will be rewarded with THETA tokens.

What are Theta's biggest challenges?

One of the biggest challenges is to disseminate knowledge of Blockchain to Theta's partners.

The project's market access strategy is to cooperate with existing platforms such as Samsung VR, CJ Hello in Korea ... These partners will support Theta technically.

Theta will play a direct role in managing token storage, legal issues, management and community education ...

Who are Theta's customers?

Any project on the Theta Network can be used in the real world by anyone.

The www.sliver.tv streaming platform is still active, users will earn TFUEL when participating in the network and with some project partners such as Samsung VR and CJ Hello.

Who is Theta's top competitor?

In the field of traditional video distribution, the project's biggest competitor is Akamai.

In essence, however, Theta acts as a decentralized, supportive and complementary platform for traditional CDNs like Akamai. Theta Network can more or less capture market share from rivals. However, it is still enough to cooperate with them and overcome shortcomings.

On the Blockchain side, Livepeer and VideoCoin are also seen as potential competitors.

The Theta Network's strategy is to quickly gain acceptance faster, through working with existing platforms with a large user base. And Theta's direct competitor does not appear to have appeared yet. Current relationships with Samsung, CJ and LG ... are helping the project penetrate these large platforms.

Many people misunderstood Theta's rival as Youtube. However, the reality is not so. Theta is the video delivery protocol. Therefore, the project also hopes that YouTube will accept and use the Theta protocol.

What is special about Theta Network with other Blockchain projects?

One of the major differences is that the project has partnered with some well-known companies like Samsung. Moreover, Samsung has also invested in Theta Labs.

Theta Network can connect with these companies, so the process of accepting projects will also be significantly easier than starting with a few users.

Apart from operating in the crypto market, what will Theta be able to apply to the non-crypto market?

Any user with a good Internet connection can earn rewards for sharing content with nearby users. Then the Theta video platform can distribute their content more efficiently and cost-effectively.

What are the benefits of Theta Mainnet 2.0 over Mainnet Thera launched in March 03?

Users in the community will be able to run Guardian Nodes and vote in consensus. This helps to create a stronger community, a more decentralized network and better protection from cyber security threats.

Theta Token Distribution

1 billion THETA will be issued. In particular, TFUEL is the secondary token of the protocol, with a total supply of 5 billion.

The new supply will start to form in Q4, when Guardian Nodes is in operation and users can earn TFUEL for staking. This rate will increase to 5% per year.

The THETA token gives users the right to participate in consensus and network management. Meanwhile, TFUEL is used to pay rewards to network contributors. Moreover, users who want to operate video platforms to run Theta Network in their platform need to use TFUEL.

The Theta team currently holds about 30% of THETA's supply.

Why doesn't Theta work with iOS systems?

At the moment, cooperation with the iOS operating system is a difficult problem because this operating system is not used on many other common devices such as TVs. Therefore, Android is still the preferred choice at this time.

Roadmap of the project

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