Are THETA Bulls Ready To Charge For $50 Price Level In 2020?

What Is Theta Network?

Theta (THETA) is a network powered by blockchain developed for the purpose of streaming videos. It was released back in March 2019, Theta mainnet functions as a distributed network where users are allowed to share bandwidth as well as computing resources through peer to peer network. Project was recommended by Twitch and Youtube co-founders Justin Kan and Steve Chen, respectively.

Theta Network’s indigenous coin is THETA, which is able to do several governance acts inside network, and perceives Samsung, Sony Europe, Gumi, BLockchain ventures, Binance, and Google as Enterprise verifiers alongside Guardian network numerous guardian nodes operated by the community.

Whose Brains are Behind Theta?

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Jieyi Long and Mitch Liu co-founded Theta back in 2018. Liu has been in video streaming and gaming sector for a long time now and have also co-founded Tapjoy – a video advertising organization, and Gameview Studios – a social gaming startup for mobile devices, and Theta.tv – a live streaming project whose decentralized application was initially developed on Theta network.

Another Theta co-founder, Long, is also its Chief Technology Officer, following alike multi-year exposure to large-scale dispersed systems, gaming, VR, and design automation. He penned multiple critiqued scholastic papers and owns several patents in VR, Blockchain, and Video Streaming.

Why is Theta Distinct From Others?

Theta’s prime business notion is to make data delivery, edge computing, and video streaming decentralized, to increase its efficiency, making it more cost-effective and impartial for selector participants.

Its network operates on an indigenous blockchain, with a couple of indigenous tokens called Theta Fuel (TFUEL) and Theta (THETA), feuling its insider economy.

Theta is extensively luring because of three notions: Users will receive rewards for a better quality streaming facility, content creators make earnings better, and video platforms saves costs on developing framework and escalate subscription and advertising income.

Folks are incentivized for both, to feast their eyes on content on the network and to share resources of the network, as rewards are attained in TFUEL.

Theta’s platform is open-source, and token holders gain governance authority as with several blockchain ecosystems based on Proof of Stake algorithm.

Additionally to data, computing, and video. Theta serves to devs looking to release dApps on its entirely featured smart contract platform compatible with Ethereum Virtual Machine.

What is Theta Token Wallet?

Theta token Wallet is a virtual wallet developed by Theta Network and has three different versions: Theta Wallet Android, Theta Wallet iOS, Theta Web Wallet.

Mobile version of Theta token wallet was launched recently by the network, available both on Apple and Android devices. As Theta has its own mainnet launched and because it is compatible to both persisting ERC-20 Theta Token as well as tokens accessible on its mainnet, the virtual wallet suits the bill to manage future taken swap on Theta mainnet as well as TFUEL dispersion.

As part of security, folks need to set a mnemonic phrase facilitating as a key to Theta token Wallet for restoring it in case of events like losing the device. Users will have accessibility as long as they are holding this mnemonic phrase with them safe, just like in MetaMask.

Theta Web wallet is similar to a mobile wallet, but it can only be accessed through a web browser for operations. It was launched after Theta mainnet release.

What is Theta Swap?

ThetaSwap is an initially developed DEX on Theta blockchain, utilizing an open-source AMM-based smart contract system built alike UniSwap. It enables folks to exchange their freshly generated TNT20-tokens developed on Theta blockchain in a non-custodial and trustless manner.

For setting up a fresh trading pair on ThetaSwap, folks are required to make a liquidity pool. It is a pool of Theta Fuel (TFUEL) and a provided TNT20 token allowing people to trade in exchange for it. As a seller or a purchaser, individuals can TNT20 Token for TFUEL or just the opposite.

What Do Guardian Nodes On Theta Network Do?

In Theta Network, Verifier Nodes put forward and generate fresh blocks in the chain, while Guardian Nodes seal blocks and serve as a watchdog on malevolent or non-operable Validator Nodes.

Guardian Nodes have a critical part to play regarding security of Theta Network, as it constructs a second layer shield against any latent malevolent attackers. Folks need to install Guardian nodes to create a defense for Theta blockchain.

In order to install a Guardian Node on Theta, folk requires at least a thousand THETA to a stake, around 5 MBPS internet speed, CPU having 4 or above cores, and 16 or above Gigabytes of memory.

Theta Roadmap

Beginning in quarter 3 of 2021, official Theta application was released, and its whitepaper was publicly issued. In the following quarter Beta version of ThetaDrop or TDrop, Theta’s marketplace, was released.

Beginning of 2022, it holds its TDrop decentralized governance and token launch. Many more things are scheduled for upcoming months and years to make the network more robust.

Theta Vs. Youtube

Currently, CDNs (content delivery networks) have a reach deficiency, creating re-buffering and escalated loading time in various parts of Globe, delivering bad quality in videos most of the times.

Folks demand ultra high definition or higher quality in video streams, creating framework bottlenecks.

Centralized nature of Youtube leads to lower-income flow back to platforms and content creators.

In short, viewers have to experience lower quality videos and smaller rewards, as centralized CDNs bag most of them.

However, on Theta network, viewers will get TFUEL as rewards against sharing extra resources as well as bandwidth, users are currently given rewards for participation in network.

As a decentralized P2P network, Theta delivers higher quality and flawless video streaming across the globe efficiently.

In Theta network, video platforms aren’t required to develop costly frameworks, driving more innovative and distinct business models.

Finally, folks will flourish by sharing extra bandwidth and developing a community. Platforms as well as content creators everyone can bag more with less streaming expenses.

Theta Token Price

As this article was being written, Theta Network’s Indigenous token THETA was trading at a market value of $3.29 in the last 24 hours. This means if folks had purchased this coin at the time of its launch, they would be counting on a whopping 2040.17% of gains on investment.

THETA Price Prediction

Looking back in January 2018, roundabout the time it began trading, Theta had a market price of $0.1, lower than its live price today, it is a 2484% gain. And contrasting it from its all time low during March 2020, it has returned a whopping 9896% returns.

It reached its all time high in April 2021, reaching $15.9. Assuming it will reach $50 means over threefold growth in price of Theta.

There are numerous factors that needs to emerge practically in order to push Theta to $50. Initially, cryptocurrency market needs to be steady again this year, and most essentially, it needs a recovery from its recent plunge.

Another factor is that, Theta Network’s growth should be steady, without frequent turbulence in its price and keeping its value intact over a longer time span.

Finally, Theta decentralized video streaming facility requires to fulfill its promise and become broadly accepted product that would be beneficial for users as well as sustainable alternative to centralized video streaming facilities like Amazon and Netflix. If all 3 objectives are attained, it has a potential to attain $50 price levels.