Theta Token’s Testnet is now Live!
As you can see on the original Theta Token roadmap that “Native Theta blockchain development” is occurring between Spring to Fall of 2018. Great news is that Theta is right on schedule with their roadmap! Theta just launched the “first video delivery network powered by blockchain.” This is the first functional consumer facing blockchain with immediate real world utility. Most importantly for average users like you and I, Theta incentivizes us with real money, to join their network and share our bandwidth to help offset the massive video distribution needs of some of the biggest data distributors in the world! Yes, the more video you share to others in your area (~200–500 miles near you), the more tokens you receive!! These tokens can be used within the network to purchase items/services, but also can be exchanged for fiat!!!
Currently, the Theta Testnet blockchain is in testing only mode, which means that any tokens earned will not transfer over to the Mainnet which launches in Q4 of 2018. However, the Theta team wants to collect as much data as possible during the testnet so they are currently incentivizing users to share bandwidth in exchange for prizes and raffles. The team will be rewarding streamers based on different metrics that have yet to be announced, but have mentioned in their Telegram chat that they will select users with the most time logged on the testnet, as well as the most data streamed. Of course, when Theta releases their final product, aka the Mainnet, in Q4 of 2018, users will be able to earn real tokens which are transferable, valuable, and can be converted to fiat!
In order to start participating in the Testnet, follow these two simple steps:
1) Visit www.Sliver.tv and create an account, it’s free and takes 30 seconds. Make sure to check your e-mail to verify your Sliver account.
2) Go to https://www.sliver.tv/win/theta and you will see your data, similar to the picture below.
Keep in mind that when the Theta Mainnet launches in Q4 of this year, you will be able to earn real tokens which can be used within the network as well as converted to fiat on an exchange!
This streaming process is not analogous to Bitcoin mining in the sense that sharing your bandwidth only uses your internet bandwidth as a resource, and doesn’t require special hardware or use exorbitant amounts of energy. Compared to energy and hardware intensive Bitcoin mining, Theta uses zero additional energy beyond the normal usage of your computer. Also, this means that if you have multiple computers in one home (via the same internet connection) that your internet is the limiting resource, not your computers. Thus, if you have 10 computers all streaming on the Theta network, it will not increase the rewards you get, they will just be distributed among the 10 computers.
Theta is an infrastructure to compete with traditional and cumbersome CDN servers (Akamai.com) by creating an efficient mesh network that incentivizes people with unlimited hi-speed internet packages, via tokens as rewards for streaming, to help offset the bandwidth needs of major video distributors. The Theta team is developing an economic formula that benefits streamers, advertisers, publishers, and networks. The Testnet provides the team with valuable insight and allows the team to work out any bugs, vulnerabilities, or other potential issues, in advance of their final product release.
Disclaimer: This blog is for educational purposes only. Do not use any information provided by myself or this blog as professional/financial/legal advice or personal suggestion.