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Theta Token (THETA)

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The Theta blockchain is the end-to-end infrastructure for decentralized video streaming and delivery.

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Overview

Project industryMedia
Product typePlatform
FoundedUnited States

What is Theta Token

DSN and the Theta protocol solve various challenges the video streaming industry faces today. First, Theta tokens are used as an incentive to encourage individual users to share their redundant memory and bandwidth resources as caching nodes for video streams. This improves the quality of stream delivery and solves the “last-mile” delivery problem, the main bottleneck for traditional stream delivery pipelines, especially for high resolution high bitrate 360° virtual reality (VR) streams. Second, with sufficient amount of caching nodes, the majority of viewers will pull streams from peering caching nodes. This significantly reduces content delivery network (CDN) bandwidth costs, which is a major concern for video streaming sites. Lastly, the Theta network greatly improves the streaming market efficiency by streamlining the video delivery process. For example, advertisers can target end viewers at a lower cost and reward influencers more transparently.

The Theta blockchain introduces three novel concepts:

  • Reputation Dependent Mining: In the Theta protocol, the caching nodes play the role of miners in the blockchain. The block reward is not a constant, but depends on the reputation score of the caching node that mined the block. To obtain more mining rewards, miners not only spend computation power to mine blocks, but also relay video streams to downstream viewers to increase their reputation scores.
  • Global Reputation Consensus: We propose a mechanism for the Theta network to reach the global consensus on the reputation scores for each caching node.
  • Proof-of-Engagement: We introduce a novel Proof-of-Engagement scheme to prove that viewers legitimately consume the video streams, providing better transparency to advertisers and a basis for viewers to earn Theta tokens for engaging with the content
  • The company’s mission is to leverage the decentralized blockchain structure to create the first Decentralized Streaming Network (DSN) whereby video viewers are incentivized to share redundant memory and bandwidth resources to address today’s video streaming challenges. Using the Ethereum EVM “World Computer” metaphor, the DSN can be viewed as the “World Cache” formed by the memory and bandwidth resources contributed by viewers.

    Specifically, viewers around the globe can contribute their computers as “caching nodes” whereby they form a video delivery infrastructure that is responsible for delivering any given video stream to viewers anywhere around the world. The DSN can effectively address the technical challenges discussed in the previous section. First, viewers’ computers are geographically much closer to each other than to the CDN POPs. This reduces packet round-trip time and improves the stream delivery quality, and thus addresses the “last-mile” delivery issue. Second, with sufficient amount of caching nodes, most viewers will receive the stream from caching nodes, this will help streaming sites reduce their CDN bandwidth cost. Third, caching nodes also reduce round-trip time making foveated streaming technology practical.

    To encourage viewers to contribute their memory and bandwidth resources, we introduce the Theta protocol as an incentive mechanism. The caching nodes can mine new tokens as they relay video streams to other viewers. Not only does Theta tokens motivate viewers to join the network as caching nodes, but it also greatly improves the streaming market efficiency by streamlining the video delivery process. We will discuss more details later in the paper, but within the Theta network, advertisers can directly target viewers at a lower cost, viewers earn Theta tokens for their attention and engagement with video streams, and influencers earn Theta token as gifts directly from viewers.

    The full launch of the Theta protocol in phase II introduces a new blockchain and a native token structure where:

  • Advertisers spend tokens to support influencers, streaming sites and viewers
  • Caching nodes mine new tokens for caching and relaying video streams
  • Viewers optionally earn tokens from advertisers as engagement rewards
  • The Theta protocol builds upon the following novel concepts:

  • Reputation Dependent Mining: In the Theta protocol, the caching nodes play the role of miners in the blockchain. Similar to other blockchains, the caching nodes validate transactions and attempt to add new transaction blocks to the blockchain based on Proof-of-Work. However, in our protocol, the block reward is not a constant. The miners with higher reputation score (intuitively this means that they serve viewers more effectively) will have a higher block reward. To obtain more mining rewards, miners not only spend computation power to mine blocks, but also relay video streams to downstream viewers to maintain and increase their reputation scores. In other words, they are essentially “functional miners”.
  • Global Reputation Consensus: We propose a scalable mechanism for the Theta network to reach the global consensus on the reputation scores for each caching node, and thus the global consensus on the amount of mining reward for each block.
  • Proof-of-Engagement: We devised a novel Proof-of-Engagement (PoE) scheme to ensure that viewers legitimately consume the video streams. Viewers can earn tokens as rewards from advertisers in exchange for their attention to video streams and by providing Proof-of-Engagement. PoE not only brings benefits to viewers, but also to advertisers as it provides them with a reliable and verifiable engagement measurement of the delivered video streams.
  • Details

    Public sales: Jan 08, 2018 - Feb 08, 2018
    Token supply: 1,000,000,000 THETA
    Total tokens for sale: 600,000,000 THETA
    Hard cap: 20,000,000 USD
    Raised: 20,000,000 USD

    Legal

    Blockchain Platform: Ethereum
    Registration country: United States
    Registration year: 2017

    Token info

    Ticker: THETA
    Type: Utility-token
    Token standard: ERC-20
    Token price in USD: 1 THETA = 0.15 USD
    Accepted currencies: ETH
    Token distribution:
    40% - Token sale participants
    30% - Theta labs reserve
    20% - Network seeding
    10% - Advisors, partners, etc
    Funds allocation:
    60% - Software development R&D
    20% - marketing, community development
    20% - Operational, legal expenses

    Theta Token Roadmap

    1
    Q4 2015

    SLIVER.tv founded

    2
    Q2 2016

    Live streaming platform launched

    3
    Q2 2017

    $16MM equity financing, Theta project launch

    4
    Q3 2017

    Theta token pre-sale to strategic partners

    5
    December 2017

    Theta tokens live on SLIVER.tv platform

    6
    January 8 2018

    Public token presale

    7
    January 15 2018

    Public token sale begins

    8
    February 5 2018

    Public token sale ends

    9
    February 2018

    Theta ERC-20 tokens distributed

    10
    March 2018

    Theta tokens full integration into SLIVER.tv platform

    11
    Spring-Fall 2018

    Native Theta blockchain development

    12
    Q4 2018

    Native Theta network launch on new blockchain

    13
    Q4 2018

    Theta ERC-20 tokens exchanged 1:1 for Theta blockchain tokens

    14
    Q1 2019

    Theta Network goes live for caching and mining nodes

    15
    Q3 2019

    Theta Network debut of premium on-demand content

    Project team

    Mitch Liu
    Mitch Liu
    Cofounder / CEO
    Mitch Liu linkedin
    Jieyi Long
    Jieyi Long
    Cofounder / CTO
    Jieyi Long linkedin
    Ryan Nichols
    Ryan Nichols
    Chief Product Officer
    Ryan Nichols linkedin
    Ribao Wei
    Ribao Wei
    Principal Engineer
    Roy Zheng
    Roy Zheng
    Streaming Architect
    Qinwei Gong
    Qinwei Gong
    Platform Architect
    Jing Xu
    Jing Xu
    Blockchain Engineer
    zhenyang Tang
    zhenyang Tang
    Blockchain Explorer Engineer
    Rene Garcia
    Rene Garcia
    Platform Engineer
    Tim Li
    Tim Li
    Head of Platform
    Wes Levitt
    Wes Levitt
    Head of Strategy
    Bruce Chong
    Bruce Chong
    Head of Korea Development

    Advisors

    Steve Chen
    Steve Chen
    Co-founder of YouTube
    Dennis Fong
    Dennis Fong
    Founder Plays.tv, first esports celebrity
    Clifford Morgan
    Clifford Morgan
    CEO GFUEL
    Rajeev Surati, PhD
    Rajeev Surati, PhD
    MIT PhD, video compression and streaming expert
    Justin Kan
    Justin Kan
    Co-founder of Twitch
    Sam Wick
    Sam Wick
    Head of Ventures, United Talent Agency
    Kyle Okamoto
    Kyle Okamoto
    Chief Network Officer at Verizon Digital Media
    Karen Huh
    Karen Huh
    Senior Vice President of CJ Hello
    Riz Virk
    Riz Virk
    Executive Director at Play Labs @ MIT
    Riz Virk linkedin
    Steve Dakh
    Steve Dakh
    CTO at SmartWallet
    Travis Skweres
    Travis Skweres
    Founder CoinMkt, one of the first US bitcoin exchanges
    Dovey Wan
    Dovey Wan
    Founding Partner of Primitive Ventures
    Ma Haobo
    Ma Haobo
    CEO of aelf
    Fan Zhang
    Fan Zhang
    Founding member, Sequoia Capital China

    Social media

    Theta Token web-siteTheta Token RedditTheta Token MediumTheta Token TelegramTheta Token TwitterTheta Token FacebookTheta Token SlackTheta Token Github

    User rating:

    5/5 ( 1 )
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