Is Theta Token the Next Ethereum or the Next Dogecoin?

Because the meme-friendly Dogecoin has confirmed us, the subsequent scorching cryptocurrency can come from nearly anyplace. Whereas the bulk will undoubtedly be unstable, I do not suppose we’ve seen the final of crypto mania, and I’m positive there are different progress tokens that can emerge. It will likely be vital to separate them into two pots: People who have real-world utility, like Ethereum, and people which are extra artificially inflated, like Dogecoin, which might be able to stick round despite the fact that it does not presently have any distinctive technical benefit over different tokens.

The one I want to discuss right here is named Theta Token (CRYPTO:THETA), which is used on the decentralized Theta Community that seeks to enhance inefficiencies related to video streaming. Is it price your funding {dollars}?

How does Theta blockchain work?

The Theta blockchain is a decentralized infrastructure that seeks to enhance video streaming and supply. 

Corporations or web sites offering video streaming content material have historically stored it multi functional centralized system. Whereas this can be handy at first, if sufficient viewers attempt to entry the content material all on the similar time and put strain on the system, the stream can change into gradual and uneven. To treatment this, streaming suppliers will go for a content material supply system, by which they disperse a bunch of servers so viewers do not put as a lot stress on one single entry level, guaranteeing a smoother stream. However this may be pricey.

Theta blockchain is looking for to disrupt this mannequin by primarily establishing a peer-to-peer community that faucets into individuals’s computer systems to make the most of their unused bandwidth. Now, when somebody makes an attempt to view content material that’s accessible on the Theta Community, a number of the information powering that content material will come from the primary server internet hosting it, whereas some will come from the Theta Community.

Picture supply: Getty Photographs.

Many within the business don’t view Theta as a competitor to different video streaming websites, however as an alternative as a manner to enhance the plumbing behind the system, decreasing the price of streaming.

“Theta’s innovation is ready to disrupt at present’s on-line video business a lot in the identical manner that the YouTube platform did to conventional video again in 2005,” mentioned Steve Chen, co-founder of YouTube and an advisor to Theta. “One among our largest challenges had been the excessive prices of delivering video to varied elements of the world, and this downside is simply getting larger with HD, 4K and better high quality video streams.”

Moreover, Theta has made a number of large partnerships. As an example, Samsung plans to incorporate the Theta.television e-sports streaming community in future Galaxy S20 smartphones, and in addition could convey different Theta-powered content material platforms to its personal sensible tv platform. Main corporations like Sony and Artistic Artists Company are additionally backing Theta, in addition to a number of enterprise capital corporations.

There are two varieties of tokens utilized on the Theta Community.

• The primary is named TFUEL, which is how Theta pays individuals for extending their pc’s bandwidth into the community. That is proper — when an individual makes use of their pc to share content material with somebody viewing it on the Theta community, and therefore helps enhance streaming high quality and loading time, they’re compensated in full or partial TFUEL, which is presently buying and selling for roughly $0.34 per token.
• The second is the Theta Token, which is known as the governance token of the community. Theta tokens are extra akin to shares, and holders of those will supposedly be accountable for the course of the venture going ahead.

Curiously, Theta Token has arguably had a greater run than Dogecoin. The coin, which presently trades at $10.74 per token, had at one level this yr climbed greater than 17,000% from its worth early final yr. It just lately had a complete market worth round $10 billion, making it the Twentieth-largest cryptocurrency as of Might 14.

Is it extra like Dogecoin or Ethereum?

You may in all probability surmise that I view Theta Token to be extra like Ethereum than Dogecoin. Whereas it did have the sort of run-up that Dogecoin did, I believe it was a lot quieter and fewer meme-powered. Additionally, not solely does Theta Token have a real-world and distinctive utility like Ethereum, but it surely additionally has a set provide of 1 billion tokens, all of that are in circulation proper now, which is sweet for buyers as a result of it might probably create extra demand. Whereas the Theta Token will doubtless be unstable and there’s actually no assure, I see much more potential with this one than different tokens which have appreciated significantly.