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Is Theta Network currency worth buying? Theta Network is a decentralized network for video transmission. Using its proprietary blockchain, Theta Network is trying to incentivize the launch of video sharing channels. To learn more about Theta Network and the fundamental analysis of Theta currency, stay with us on Pooyan music site.
The main problem of this network in developing countries is the high installation cost and the presence of centralized governance. Due to the increase in demand and acceptance of virtual reality, the infrastructure of Theta Network is not responsive.
Theta is an ERC-20 token based on the Ethereum network. Theta Network created a peer-to-peer network called Mesh. This layer solves the problems that arise in the use of blockchain and also increases the performance of the network in transferring information.
Theta network consists of two parts. The first part is a video transmission network. This network consists of nodes that connect to the network and prepare their desired bandwidth. Theta Network has created a true decentralized network to transmit videos. The second part of the blockchain is Theta. The existence of this blockchain helps to increase the desire of users to connect to the transmission network.
Theta Network created a peer-to-peer network of users who share their bandwidth. This leads to the creation of a global network that can be used as an alternative to the existing CDN infrastructure or a competitor to it.
Users can set their devices as storage nodes and transfer video all over the world. Storage nodes in Theta Network are where video data is stored. Theta network has better memory and more relays than existing systems, which leads to the improvement of quality and speed in this network. Storage nodes receive theta tokens as a reward.
Is Theta Network worth buying
The main purpose of Theta Network is to use in a dedicated ecosystem as a proof-of-concept consensus algorithm for payments and rewards. Files are not stored in the blockchain and Theta blockchain is completely open. The developers of this network hope that other developers will create their own decentralized applications on the Theta blockchain platform.
Theta uses a method called concatenated signatures. In this method, instead of sending their signature to all nodes, the guard nodes send their signature only to the neighboring nodes. This process continues and the signature of the guard nodes is published in the entire network. This process increases scalability.
In 2017, the sale of tokens of this currency started. Its initial release ended in January 2018. The initial price of this token was $0.1117. 750 million tokens were issued this year. After creating its own blockchain, Theta experienced its first price growth in February 2018, reaching $0.22, a doubling.
The process of increasing its price continued with the news of the listing of this token on the Binance exchange and also its joining the Ethereum community. When he signed a contract with Aelf, he got his highest price, which was fixed until 2020.
Many opinions regarding the future of the Theta Network digital currency are positive. Pay attention to the fact that Theta Network digital currency is an altcoin, whose price movements in most cases depend on the price of Bitcoin.
