Theta Network: Adoption, Exchanges, and Staking (in a bull market)
As we’re in the early stages (or officially) of a potential bull market, there are projects new and old making major gains. As I have emphasized in previous posts, my goal is to find blockchain projects that are first and fundamentally, secure, and equally as important, efficient with high utility and demand.
Theta Network has been developing and running their dual token (Theta and Theta Fuel) custom proof-of-stake blockchain for over two years. The team has done an amazing job covering the entire video delivery vertical and working to integrate their value proposition into the video-meets-consumer internet infrastructure.
Roughly 2/3 of all internet traffic is used for video (per Cisco’s Annual Internet Report). This means that there are massive cloud data farms and high speed internet highways redundantly delivering video to each and every household. Theta Network solves this redundancy and creates a more efficient system by incentivizing users to retain video they view and in exchange for earning cryptocurrency, to share their internet bandwidth by uploading in-demand video to their neighbors.
If you consider that a significant percentage of households around the world are watching the same live sporting event, premier TV/film (Game of Thrones, HBO, Netflix), or popular Instagram/YouTube streams, that accounts for a ton of data delivery redundancy to not only be reduced, but for millions of dollars to be saved by video platforms and CDNs (Content Delivery Networks).
The best part yet is that when users get rewarded for sharing their bandwidth, and earn Theta Fuel or potential “Samsung Token” or “Netflix Token”, they are more likely to spend it than to cash it out. This means that not only do large corporations save on their operating cost of delivering data, but they also retain further money by receiving the same incentivized tokens they previously paid out to users for sharing their data delivery costs.
Now the fun part!… Where is Theta Network at right now during this recent pump in Ethereum, De-Fi hype, LINK moon, and UniSwap dreams made, and finances drained?
Theta Network has some exciting news coming up, according to a recent AMA done exclusively for the Guardian Nodes via private Slack. The main takeaways from the AMA are the implementation of Theta Network on a large video platform within the next few months. There is a likelihood of Theta Token (and ideally Theta Fuel as well) being added to Coinbase per Coinbase’s offical blog posting. Best of all, there is a recently added enterprise Validator Node with over 6,681,518 Theta Tokens staked at a UDS value of ~$3.6 million dollars (see picture below taken from GuardianMonitor.io) !! That accounts for the largest Validator Node outside of Binance’s pooled Theta holdings. That is more than Samsung and Google Cloud have staked!
Needless to say, Theta Network is solving a real world problem of insanely increasing bandwidth needs both with more data consumption, higher quality music/film streams, and evolving entertainment formats (4k and VR). The Theta Labs team has been working non-stop developing infrastructure products such as block explorer, staking apps, as well as working with all types of international video networks and publishers to integrate Theta Network as the first additional layer to the legacy internet!
Very exciting developments ahead.. Join the Theta Network revolution and begin running your Edge Node to start earning Theta Fuel now for sharing your bandwidth!
Disclaimer: This is not financial advice.
