Theta is a "dual network" consisting of two complementary subsystems, the Theta Blockchain and the Theta Edge Network.Theta proof-of-stake blockchain provides payment, reward, staking and smart contract capabilities, while the Edge Network is responsible for the compute, storage and delivery of video streams, AI tasks, and other scientific, simulation and financial modeling use cases. There are two native cryptocurrencies on Theta blockchain: THETA, the staking and governance token, and TFUEL, used as gas for all transactions and on-chain smart contract interactions. The next-generation Edge Network, Theta EdgeCloud, is the first hybrid cloud computing platform built on a fully distributed architecture, set to launch later in 2024.
Theta’s Web3 infrastructure enables media companies to drive incremental revenues, user engagement, and new Web3 business models. Theta Video API and Theta Web3 Theater are turn-key decentralized video API for developers offering significantly lower costs for video transcoding, storage, and content delivery, powered by patented Digital Rights Management technology.
Theta blockchain also underpins the ThetaDrop NFT marketplace in partnership with Katy Perry, Samsung, Sony, American Idol, The Price is Right, Taste of Home, and other leading brands aiming to disrupt the digital collectibles industry.
Theta Network’s enterprise validator and governance council is led by Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, Blockchain Ventures, and other global leaders. Strategic corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), and CAA.. Theta is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.
Theta Network is a pioneering blockchain platform tailored for the video, media, and entertainment sectors. It stands out for its innovative approach to reducing content delivery costs, making it a cost-effective solution for developers and businesses in these industries. The platform is built on a blockchain that is compatible with Ethereum smart contracts, offering a versatile environment for developers.At its core, Theta Network operates as a dual network system comprising the Theta Blockchain and the Theta Edge Network. The Theta Blockchain facilitates payments, rewards, staking, and smart contract functionalities. In contrast, the Theta Edge Network focuses on the compute, storage, and delivery aspects of video streams, alongside AI tasks and other complex computational use cases. This dual structure enables Theta to offer a comprehensive infrastructure for video and entertainment applications.Theta Network is distinguished by its two native cryptocurrencies: THETA, which serves as the staking and governance token, and TFUEL, utilized for transactions and smart contract interactions within the network. These tokens play a crucial role in the ecosystem, supporting the decentralized nature of the platform.Looking ahead, Theta Network is set to introduce Theta EdgeCloud, a groundbreaking hybrid cloud computing platform. This platform represents the next evolution of Edge Network, offering a fully distributed architecture for cloud computing, set to launch in 2024.The network also provides robust Web3 infrastructure solutions, such as the Theta Video API and Theta Web3 Theater. These tools offer developers significant cost reductions in video transcoding, storage, and delivery, leveraging patented Digital Rights Management technology.Furthermore, Theta Network underpins the ThetaDrop NFT marketplace, which has garnered attention through partnerships with notable brands and personalities. This marketplace aims to revolutionize the digital collectibles market, showcasing Theta's versatility beyond video streaming.Theta's governance and enterprise validator council include leading technology and entertainment companies, reflecting its strong industry support and potential for widespread adoption. The network's advisory board boasts influential figures from the tech world, underscoring Theta's commitment to innovation and excellence in the blockchain space.