page contents Decentralized Video Platform Theta Hosting Hackathon With $85k up For Grabs | The News Headline

Decentralized Video Platform Theta Hosting Hackathon With $85k up For Grabs

Decentralized video streaming carrier Theta Community will host a three-month-long hackathon beginning subsequent week to increase inventions at the platform.

“Sign up for us in construction merchandise, integrations and equipment for the Theta ecosystem to decentralize video infrastructure international!”

The Theta Community requests that programmers post apps, SDKs, or protocols to give a boost to its use case, capability, and useability. Examples of such initiatives come with integrations with different video platforms, dApps, NFTs, analytics equipment, and block explorers.

CEO Mitch Liu and CTO Jieyi Lengthy will pass judgement on the submissions. The scoring standards will weight 40% to price added to the Theta ecosystem, 40% on execution, and 20% on innovation.

The primary prize winner(s) will get Theta tokens to the price of $50ok, with 2d and 3rd incomes $25ok and $10ok, respectively.

Mainnet three.zero Targets to Revolutionize Blockchain Video Streaming

The Theta Community’s objective is to disrupt conventional streaming platforms, comparable to YouTube, Netflix, and Twitch.

By means of construction a decentralized streaming infrastructure the use of Validator, Dad or mum, and Edge nodes, Theta hopes to praise creators and audience with a larger slice of the income whilst additionally addressing opinions of centralized platforms, together with censorship.

As discussed within the above tweet, the hackathon will lead into Theta’s Mainnet three.zero release, scheduled for April nine, 2021.

Mainnet three.zero builds upon the former iteration by means of including two inventions. Those are the inclusion of Elite Edge nodes, additionally the implementation of a TFUEL burning mechanism.

Theta neighborhood participants host the Edge nodes. They shape an integral side of the P2P decentralized community by means of facilitating the relaying of video.

With the Mainnet three.zero improve, “uptime mining” is activated to permit the tokenization of web bandwidth and community availability.

As such, customers can stake TFUEL to an Edge node and obtain rewards again for doing so. Staking to an Edge node upgrades it to an Elite Edge node within the procedure. The Theta crew expects staking rewards to come back out at between 2-Four%.

However that’s now not all. The brand new Mainnet release will even herald a TFUEL burning mechanism to counter inflationary pressures.

“With Theta three.zero, no less than 25% of each and every TFuel fee to the brink community can be burned on the protocol stage, successfully turning into a value for the use of the community. Within the long-run as Theta’s edge community turns into extra extensively followed, this may meaningfully cut back the provision of TFuel.”

Large Strikes See Theta Outperform Marketplace Chief

The efficiency of Theta over the past 12 months has observed an astonishing 2000% acquire. Over the similar duration, Bitcoin controlled 330%.

As observed in the fee chart, the majority of the good points adopted the company’s Mainet three.zero liberate announcement, made in December 2020.

Following that, the token has been emerging strongly within the CoinMarketCap ratings. These days, it’s positioned 18th, with Tron in line to be overtaken.

With that, can Theta take care of this stage of momentum going into 2021?

Theta daily chart YTD

Theta daily chart YTD

Supply: THETAUSD on TradingView.com

http://platform.twitter.com/widgets.js

Leave a Reply

Your email address will not be published. Required fields are marked *