If you are a Web3 lover, love to stream on Twitch or are a streamer you should definitely try . The idea behind it is interesting and is connected to the crypto world. In fact, it is possible to earn tokens by watching streams, NFTs, emotes and badges. THETA Network is a blockchain created in 2018 for the distribution of P2P video streaming. Theta is a peer-to-peer network where viewers are incentivized to share their excess computing resources and spared bandwidth.
The protocol is open source, meaning anyone can build on the Theta blockchain. Content providers are able to develop specialized decentralized applications for their audience. The streams mainly concern the gaming sector but you can find everything: even audio or video streaming from NASA! In fact, Theta has entered into a number of strategic partnerships, such as with Metro Goldwyn Meyer, Lionsgate, NASA, the Fail Army and the World Poker Tour. NASA channel:
CONSENT ALGORITHM AND TYPES OF NODES
The Theta blockchain uses a Proof of Stake consensus mechanism, with both Validator and Guardian nodes needing to stake THETA to participate. The multi-level Byzantine Fault Tolerance (Bitcoin, Cosmos) mechanism solves the so-called "impossible triangle" by striking a balance between consistency, transaction throughput, and decentralization.
The Theta Network consists of Edge Nodes that are hosted by members of the Theta community (they contribute bandwidth and facilitate data delivery and edge computing in general). The network is capable of globally caching and forwarding live streaming video data, as well as capturing live video and transcoding it in real time. Anyone can set up an Edge Node by downloading the app for Windows, macOS, or running the command-line version on Linux. This precisely allows users to earn TFUEL by broadcasting video streams on the Theta network. For more info: Edge Node Guide
Enterprise Validator Nodes propose and produce new blocks in the chain. Companies operating Enterprise Validator Nodes include Binance, Google, Sony, and Samsung. Community-managed Guardian Nodes seal blocks and verify that Validator Nodes are not acting maliciously. Running a Guardian Node means installing the software via GUI, CLI or Google Cloud Marketplace.
Minimum requirements: 1,000 THETA, Internet speed of at least 5 Mbps, CPU of at least four cores and a memory of 8 GB. For more info: Running a Theta Validator
There are 3 tokens:
1) THETA (governance token)
2) TFUEL (utility token for gas fee, for the market and tip for streamers)
3) Coins (usable for contests and giveaways on the network)
is the governance token of the protocol and is staked by the Validator and Guardian nodes. is the “gas” token used for network operations such as interacting with smart contracts. Edge Nodes earn TFUEL for sharing resources and forwarding video streams. Through TFUEL it is also possible to buy merchandising on ThetaTV Store
is not really a token, we could define it as a non-spendable currency that can be earned by watching streams as simple spectators. Through these Coins it is possible to participate in contests and giveaways to win NFT and boxes with TFUEL for example.
Where do you find your coins? As mentioned you earn coins when you watch videos, every minute. Then you can use them for giveaways (picture above), the balance of your coins can be found at the top right of your inventory. You can accumulate up to 5,000 coins but if you participate in the giveaways you will have no problem spending them! Coins in the inventory:
HOW DOES IT WORK
You must register with email and password on ThetaTV (Sign Up). It is also possible to connect a Theta wallet to transfer Theta tokens and TFuel and register onThetaDrop (NFT Market) with the same account. If you are a simple content viewer, you can earn coins by watching videos. On almost all portals there are giveaways by answering questions. It is possible to win badges, emotes, NFT and chests with TFUEL. Furthermore, by watching streams on each channel, it is possible to earn experience points () by leveling up. Many content creators can reward you with badges, emotes and TFUEL. It's not uncommon for that to happen (you check in your inventory
There are also daily rewards via the calendar where by interacting on the platform at least once every 24 hours (for example by placing 1 like, subscribing to the channel, commenting in chat, etc.) you receive badges and emotes. Definitely a nice idea. You remember to log in every 24 hours, otherwise the calendar will reset (from object 1).
I recommend accumulating these NFT (emotes, badges) and interacting on the platform because one day they could perhaps acquire great value, if web3 is successful and if ThetaTV replaces Twitch!
Attention! This article is not sponsored and is not investment advice. I just presented how works and how to have fun with it by watching or creating streams. You must always do your research (DYOR).
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