Theta is a Layer 1 blockchain focused on Video, AI, and Entertainment. It has two main components: the Theta Blockchain and the Theta Edge Network. The Theta Blockchain uses proof-of-stake (PoS) for payments, rewards, staking, and smart contracts. The Edge Network handles video streaming, AI tasks, and data delivery.
There are two main tokens on Theta: THETA for staking and governance, and TFUEL for transaction fees. Theta EdgeCloud, launching in 2024, will be a hybrid cloud platform with a fully distributed architecture.
Theta’s Web3 infrastructure helps media companies lower costs and improve video delivery through its Theta Video API and Theta Web3 Theater. These are powered by Digital Rights Management (DRM) technology.
Theta also supports the ThetaDrop NFT marketplace, working with brands like Katy Perry, Samsung, and Sony to revolutionize digital collectibles.
Theta’s validator and governance council includes top companies like Google, Samsung, Sony, Binance, and Creative Artists Agency (CAA). Advisors include YouTube co-founder Steve Chen and Twitch co-founder Justin Kan.
Reference: CoinMarketCap