The market data shows that the price of THETA has risen from $1.19 on February 24 to a high of $2.54 on March 3, more than doubling in 10 days. The main driver of the increase, in addition to the overall bullish market, is the announcement from Theta Lab about the upcoming EdgeCloud platform.
According to the official announcement, Theta Network plans to launch the first version of EdgeCloud on May 1, aiming to further strengthen its decentralized streaming service. As Theta continues to expand its technical boundaries and incentivize operators through upcoming software upgrades and new features, the market's interest in Theta is evidently increasing.
Next, let's learn about the transformation and upgrade of Theta.
Getting to Know Theta Network: Building a Multi-Chain Solution with Decentralized Video Streaming Technology
Theta Network is an innovative decentralized video streaming service platform designed to address the bottleneck issues in existing video transmission systems, such as high costs and low efficiency. By leveraging blockchain technology, the platform allows users to share bandwidth and computing resources in a decentralized manner, thereby improving the quality of video streams and reducing transmission costs. Theta Network employs a unique dual-token system, including Theta Token (THETA) as a token and Theta Fuel (TFUEL) as a utility token required for the operation of the network, ensuring the balance of network security and economic incentive mechanisms.
At the core of Theta Network's business is its decentralized video streaming technology, which not only provides content creators with an efficient, decentralized content distribution channel but also supports the development of decentralized applications (DApps) based on Theta, including video streaming platforms, games, and social media. In addition, Theta protects the rights of content creators through its digital rights management solutions and provides developers with rich application scenarios through developer tools such as Theta Video API and EdgeStore, driving the diverse development of the Web3 ecosystem.
The Theta Metachain represents an extension of the Theta network architecture, consisting of a multi-layered blockchain network with a main chain and customizable subchains. Unlike other multi-chain projects, the unique feature of the Theta Metachain lies in its high scalability and flexibility. Each subchain can be optimized for specific applications, providing a highly customized environment to meet different business needs. Compared to other multi-chain projects such as Cosmos, Polkadot, and Avalanche, the Theta Metachain offers a more efficient and user-friendly multi-chain solution through its unified EVM compatibility, simplified cross-chain communication protocol, and developer-friendly tools and SDK, setting it apart not only in terms of technology but also providing a solid foundation for the development of decentralized applications in media and entertainment, video games, and digital asset management.
In summary, Theta Network has demonstrated tremendous potential in the application and development of blockchain technology through its cutting-edge technology and innovative business model. With the further deployment and development of the Theta Metachain, Theta Network is expected to play a more critical role in driving the development of decentralized internet and digital economy.
Over the past 3 years, the technical iteration of the Theta Edge Network has been advancing, making it one of the world's largest distributed GPU computing powers
Over the past year, the Theta team has been dedicated to the development of Theta EdgeCloud, one of the most advanced decentralized software platforms in the field of edge computing. Its core mission is to provide optimized and cost-effective GPU processing power for various AI or video tasks to developers, researchers, and large enterprises. The innovation combines the best practices of cloud computing with the decentralized system supported by the Theta Edge Network, aiming to improve computational efficiency and reduce costs.
Since its launch with Mainnet 3.0 in 2021, the Theta Edge Network has focused on GPU-intensive tasks required for video processing, such as encoding, transcoding, and distribution. Today, nearly 10,000 active edge nodes operated by community members constitute one of the world's largest distributed GPU computing powers, with a performance of 77,538 TFLOPS, equivalent to the computing power of 250 NVIDIA A100s. This powerful GPU processing capability, combined with an additional 800+ PetaFLOPS capacity obtained through strategic cloud partnerships, provides ample resources for serving the largest language models.
In 2021, Theta applied for a patent for an "edge computing platform supported by smart contracts," paving the way for the construction of the next-generation hybrid computing architecture. This architecture can register computing tasks on the blockchain and distribute tasks to nodes in the decentralized computing network through secure peer-to-peer connections. Additionally, this solution allows for on-chain verification of core disputes through smart contracts, with participating nodes providing token rewards. The acquisition of this patent represents a significant advancement for Theta in building the infrastructure of EdgeCloud.
The Theta team has closely collaborated with numerous AI partners and experts in the field of natural language processing (NLP) and machine learning, developing an "AI model pipeline for video-to-text applications" that drives the development of various AI applications, such as semantic video search and exciting video generation for esports games. By providing an easy-to-use template library, AI developers can easily select and deploy popular AI models and build applications based on these models.
Understanding the THETA Economic Model: Adopting a Dual-Token Model and Innovating Copyright Revenue Distribution Solutions
Theta Network achieves the democratized management of the network through its governance token, allowing holders to determine the future direction of the ecosystem, ensuring its leadership position and continuous innovation in the crypto space.
Theta Network is committed to establishing a decentralized TV and video streaming ecosystem. Currently, Theta has successfully launched the Theta TV platform and plans to integrate more video platforms into the network. The realization of these plans depends on the votes of Theta token holders, demonstrating the practical application value of Theta's governance model.
In Theta's dual-token model, the TFUEL token is crucial as a payment medium for video streaming activities within the network. TFUEL is not only used to pay for video streaming fees but also supports smart contract operations within the network. The Ethereum Virtual Machine (EVM) compatibility of the Theta Ledger further promotes the development and deployment of decentralized applications (dApps), allowing developers to leverage the advantages of both Ethereum and Theta chains to create more diverse application scenarios.
Theta Network provides a revolutionary payment and copyright distribution solution for video streaming services. By introducing a consumption-based payment system, Theta allows users to pay for content they actually watch, providing a direct channel for content creators to profit. In addition, Theta's technology ensures fair distribution of copyright fees to all participants, protecting and incentivizing the rights of content creators through token holder decisions and the TFUEL payment mechanism.
Theta Drop, as a reward program, aims to encourage users to contribute unused network resources to improve video quality, which is a key factor in the sustainability of the Theta ecosystem. By sharing network resources, users can earn TDROP tokens, which not only enhance the performance of the Theta network but also provide users with an additional source of income.
Understanding the roadmap for this year and next year, learning about the future development direction and value logic of Theta Network
As Theta Network moves towards 2024, this year is undoubtedly a milestone year for the platform, with the first appearance of the hybrid cloud computing platform Theta EdgeCloud, which completely spans edge architecture. The launch of this platform aims to demonstrate the cutting-edge service capabilities for emerging AI applications in the video, media, and entertainment industries by responding to the rapidly growing demand for artificial intelligence and video through the combination of cloud and edge computing. In 2024, Theta will focus on launching the initial version of EdgeCloud's service capabilities and enhancing functionality through Theta Video API, including self-service studio-level NFT DRM support and advanced analytics dashboards, further expanding its technological and application domains.
In the second half of 2024, Theta will continue to expand the functionality of EdgeCloud, allowing partners to set up and operate hosted nodes in their own cloud or data centers, paving the way for a fully decentralized EdgeCloud model. Additionally, Theta Video API will further develop in a decentralized manner, supporting DRM, transcoding, and delivery in centralized environments. The integration of Theta Web3 Theater and the expansion of TDROP functionality in partner platforms will further enhance the applications and user experience within the Theta ecosystem.
Looking ahead to 2025 and beyond, Theta's roadmap will focus entirely on realizing a hybrid cloud computing platform under edge architecture, including the deployment of a job and workload marketplace, optimizing job supply and demand matching, and providing API interfaces for developers. As the Theta ecosystem advances towards higher levels of technological integration and application expansion, it will provide more flexible service options for efficient customers and key operators, while driving continuous innovation and growth throughout the entire ecosystem.
Through this series of development plans, Theta Network is not only pursuing innovation and optimization in technology but also committed to providing richer and more efficient services for users and partners, advancing its influence in the encrypted field and decentralized video transmission technology. Over time, Theta Network will continue to expand its impact and pave the way for a decentralized future.
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