The cryptocurrency world is seeing myriads of inventions. Since the advent of Bitcoin, several altcoins are coming in to exploit different aspects of the financial landscape. One of this is Theta network which has emerged as one of the fastest growing cryptos in the market.
Theta has established itself as one of the foremost blockchain company in the Video streaming industry with its promise of inventive decentralized streaming services. This led the company to the development of its first DApp Sliver.tv which has received lots of views lately.
Theta informed users on Twitter on Tuesday about Sliver.tv reaching a new milestone of 6.8 million visits in July.
The first dapp to be built on the Theta Network, @SLIVERtv360, just had it's biggest month ever! Total visits in July increased by 68% to 6.8 million! Check out the Theta testnet channel on https://t.co/6Tk7ZrF8oY here:https://t.co/Bre0qmE0Gb pic.twitter.com/G5Tsh3fNXT
— Theta Network (@Theta_Network) August 7, 2018
According to Theta this new numbers represents a 68% increase in visit from June indicating the soaring popularity of Silver.tv.
Sliver.tv was launched by Theta and has gone on to provide a twitch like website which allows viewers to watch e-sports and private video game channels. Viewers can also win Theta tokens by watching videos.
Theta (THETA) have also seen increase in usage of the Theta Tetnet
Theta has also dedicated many resources to providing different services in the video streaming market and recently announced its launch of the Theta Blockchain Testnet in June. According to Theta, the new technology would help developers harness the potentials of its network.
The Testnet technology was integrated to the network’s first DApp Sliver.tv which would ensure audience to over 2 million end users and increase the capacity of Theta to develop into the mainstream market dominated by Bitcoin and Ethereum.
According to analysts, Theta testnet would improve upon Sliver.tv and bring a novel approach to decentralized content technology.
Testnet would allow users to adopt the blockchain in producing video content differently from traditional methods.
This would ensure the integrity and proper reward strategies in a unique and improved manner which removes chances of scam. Several token dedicated sites have been frown upon by internet users as being too good to be true, however, Theta wants to eliminate this notion.
Theta To Launch Competitor To Twitch And Netflix
The company aims to float Bitmovio to bring this challenge in video platform industry against traditional streaming websites such as Netflix and Twitch, which it aims to surpass in a few years time.
Bitmovio is developed by Play labs and receives direct funding from the blockchain company.
If Bitmovio can reach the levels of popularity being envisaged by the blockchain company, then Theta token would become the number one bitcoin in the entertainment industry. Entertainment stakeholders have commented on the new technology in positive light.
Popular movie producer Bill Guttentag believes this would represent a change from the outmoded methods of streaming and would bring a new experience for viewers. The lack of third-party financial medium such as PayPal according to him would be enticing to Bitmovio subscribers.
These Dapps developed would be powered by the mesh delivery mechanism which would ensure fast threading of bandwidth sharing and allows for easy peer2peer browser streaming. Also, Theta would offer tokens as an incentive to viewers.
The company also revealed that this token rewards would be monitored by a high-end protocol embedded in the PBFT consensus engine.
Users would also have the Theta wallet access to trade Theta tokens for other digital currency.
Theta coin is one of the reputable coin out there with the main objective of allowing viewers to share bandwidth and videos while cutting extra costs. Theta aims to cut off the problems of low-quality videos and costs of streaming platforms.
This according to the company should be resolved by providing a decentralized video streaming platform which would enable high-speed quality video streaming.
Theta has already tested this out with the successful launch of Sliver.tv
Theta In The Crypto Space
Theta is currently ranked 95th on Coinmarketcap with a $69milliion and a circulating supply of 664million THETA. Theta is also affordable, costing $0.1 to purchase and is accepted by some of the leading exchanges.
Theta also has some high profile backers which include Steven Chen co-founder of Google and Twitch co-founder Justin Kan. This shows the belief in the crypto by some of the biggest names in the mainstream video streaming industry
It is a good time to own a THETA as it could be the next currency of the entertainment industry if it continues with its gains and popularity.
Image Credit: Flixed.