Theta Labs announces the launch of a blockchain-based video streaming platform
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Answer Theta Labs announces the launch of a blockchain-based video streaming platform
The name “Theta” has emerged in the crypto market recently, thanks to its project aimed at democratizing the provision of visual content.
announced Yesterday, Thursday, Theta Labs announced the beta version of a (decentralized) blockchain-based video streaming platform.
The new platform announced is called “Theta Edgecast” and works with the goal of rewarding its users while reducing the cost of delivering video content using a decentralized network based on the blockchain.
Edgecast is a decentralized platform and application (dapp) built on the blockchain.
The new platform Edgecast offers peer-to-peer video streaming, with support from Theta Edge Network.
According to the announcement, the network currently consists of more than 2,690 nodes around the world.
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Mr. Mitch Liu, CEO of Theta Labs stated:
Building a decentralized video platform has been the company’s primary goal since 2017.
Our main thesis was to build a fully decentralized video infrastructure that would bring more benefits to every major stakeholder in the project.
The announced platform allows video capture and conversion in real time before it is cached and transmitted to users globally.
The network is also responsible for operating the esports streaming platform on the company’s Theta.tv app.
Liu commented on the advantages of the new platform by saying:
Unlike other video platforms, this means that Edgecast does not feature a single central server or service.
This means that we are facing a huge achievement and a huge challenge.
As part of the launch, the World Series of Poker will be streamed around the clock on the Edgecast platform, which means users can watch games directly from the new app.
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