Following a USD Twenty million private token sale held a year earlier, Theta hit the market in 2018. Theta Labs is the San Francisco-based company in charge of this endeavor. Theta’s creators initially decided to run the system on Ethereum. Since then, the company has developed a native blockchain. Investor confidence in Theta has increased.
Mitch Liu, co-founder, and CEO of the network is regarded as a trailblazing figure in the sector. Theta has succeeded in securing several well-known consultants. Steve Chen, a co-founder of YouTube, and Justin Kan, a co-founder of the gaming streaming site Twitch, are among these consultants.
Theta As ERC20 Compliant
Theta storage options are very flexible for users. Since the coin is an ERC-20 token, you have access to a wide range of ERC-compliant choices. Metamask is one of the most widely used wallets for storing Theta. One of the benefits of bitcoin wallet is that it is a reliable choice for traders buying bitcoins using bitcoin trading software and the browser extension is called Metamask.
Due to its compatibility and simplicity of setup and use, the wallet is the most widely used ERC-20 wallet choice. A hardware wallet is your best bet if you want to make a significant investment in Theta or if you intend to hold onto this cryptocurrency for a very long time.
Is Theta Still A ERC20 Token?
When the Theta blockchain debuted in March 2019, all ERC20 Theta coins were switched over to it. The identical location as the one where they were stored on Ethereum was used to create the mainnet coins. After that moment, the Theta blockchain is unaffected by sending ERC20 Theta coins.
Use the ETH address private key to import the ETH handles into the Theta web wallet to access the new tokens on the Theta blockchain. This was done using the desktop version of the Theta web wallet, not the mobile one.
You could use the Ledger with the Theta online wallet to retrieve the exchanged mainnet tokens at the same location if the Theta tokens were kept on a Ledger address. To your Theta Wallet, you should never transmit ERC20 tokens. By doing this, you run the risk of losing your tokens, and Theta Labs is unable to help you get them back.
What Is Theta Blockchain?
Theta’s developers wish to report the myriad issues that the video streaming sector is now facing by utilizing a cutting-edge new blockchain. The system’s design, in particular, removes bottlenecks from conventional content distribution pipelines. Professionals refer to this problem as the last resort problem. High-resolution, high-bitrate 8k, and next-generation streaming sites are seriously concerned about it. Theta is a cryptocurrency and decentralized video delivery service that was created specifically for this purpose.
This ground-breaking platform offers the streaming industry both technical and financial answers to its issues. As a result, the Theta blockchain was created to encourage network-wide bandwidth sharing. Customers are given a chance to donate their unused bandwidth and processing power in exchange for token prizes.
Theta’s Road Map
Theta is more of an added platform for content creators from regular video streaming and their users to monetize their audiences. Twitch, its primary rival, takes a 50 percent share of streamers’ earnings and has 944.5 million monthly visitors compared to 3.71 million on SLIVER.tv, the first application made using Theta.
And the viewership is much the same. From this perspective, the initiative needs more partnerships with advertising and content producers to be successful. The great connections with live testnet channels that the project has been able to establish with SLIVER.tv and MBN in a short amount of time have already established themselves as Theta’s key benefits.
After the network is initiated, more intriguing features are being scheduled, such as shared mining incentives to split benefits among many customers, anti-piracy measures to deter piracy, and the integration of a general service platform that offers services other than streaming videos, like smart streaming contracts.
Theta protocol is reorganizing the video broadcasting and data-sharing industries to guarantee that cost-effectiveness and speed are emphasized through ongoing blockchain development and aiming for innovations. The video streaming market is anticipated to undergo significant changes shortly as THETA seems destined to keep growing and developing to continue recognizing and resolving the preexisting problems within the sector.