Theta is a Layer 1 blockchain designed for decentralized platforms focusing on Video, AI, and Entertainment.
The network is unique with its “dual network” structure, comprising the Theta Blockchain and the Theta Edge Network. The Theta proof-of-stake blockchain facilitates payments, rewards, staking, and smart contract functionalities. Meanwhile, the Edge Network handles computation, storage, and the distribution of video streams, AI processes, and scientific, simulation, and financial modeling applications. Theta’s blockchain supports two native cryptocurrencies: THETA, which is used for staking and governance, and TFUEL, which acts as the gas for transactions and smart contracts. The upcoming Theta EdgeCloud, launching in 2024, is an innovative hybrid cloud computing platform based on a completely distributed architecture.
Theta’s Web3 infrastructure helps media companies boost their revenue streams, enhance user involvement, and craft new Web3 business models. With Theta Video API and Theta Web3 Theater, developers gain access to decentralized video APIs that drastically cut down the costs associated with video transcoding, storage, and distribution, all powered by patented Digital Rights Management technology.
The blockchain also supports the ThetaDrop NFT marketplace, in collaboration with well-known brands like Katy Perry, Samsung, Sony, American Idol, and The Price is Right, aiming to transform the digital collectibles sector.
Guided by an enterprise validator and governance council, the Theta Network’s development is directed by major players such as Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, and Blockchain Ventures. Supporting these efforts, strategic corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), and CAA. Additionally, Theta benefits from the expertise of advisors like YouTube co-founder Steve Chen and Twitch co-founder Justin Kan.
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