Video and entertainment blockchain, powered by its users
DappRadar is excited to announce the integration of Theta Network and its ecosystem of dapps. DappRadar’s 1 million monthly site visitors can now analyze which dapps attract the most trading volume, unique user wallets, or process the most transactions through the Theta dapp rankings. This way, everybody can understand which dapps and tokens build solid communities and value on Theta.
Theta’s blockchain network is based on a peer-to-peer protocol that enables participants to be rewarded with payments for content distribution. The advisory board includes Twitch co-founder Justin Kana, YouTube co-founder Steve Chen and several Verizon senior executives who bring a wealth of experience in online content and live streaming to Theta.
Live streaming is one of the fastest-growing industries on earth, estimated to have increased from a value of around $30 billion in 2016 to $70 billion by the end of 2021. Online audiences consume increasing amounts of video content, both live and pre-recorded, via YouTube, Spotify, Netflix, and several other platforms. Arguably, the next frontier in online streaming is video delivery platforms that reward the community, powered by blockchains like Theta.
Theta Dapps on DappRadar
At launch, DappRadar will track five dapps on the Theta Network across the DeFi and Marketplace categories, with more dapps to come in the future. ThetaSwap is the network’s native exchange and token swapping platform. Using an open-source smart contract system based on logic similar to that of UniSwap. It allows users to exchange their newly-created TNT20 tokens built on the Theta blockchain in a trustless, non-custodial way.
ThetaDrop is the network’s leading NFT marketplace which dropped its TDROP token at the start of February 2022. TDROP rewards activity on the ThetaDrop NFT Marketplace and provides decentralized governance for ThetaDrop, and rewards stakers with TDROP token rewards. Additionally, the platform just announced partnerships with Resorts World in Las Vegas to launch utility NFTs and Samsung to offer NFT digital collectibles to all Korean pre-orders for Samsung Galaxy S22 and Galaxy Tab S8. We encourage the DappRadar community to explore all Theta Network dapps tracked by DappRadar.
Theta for developers
Theta Network is a dual network consisting of the Theta blockchain and the Theta Edge Network. The Theta blockchain provides payment, reward, and smart contract capabilities, while the edge network is responsible for storing and delivering media assets like images and videos.
Theta supports Turing complete smart contracts and is fully compatible with Ethereum, enabling a wide range of dapps to flourish on Theta. Additionally, smart contract developers can quickly jump over to building on Theta by porting over existing Ethereum-based contracts. Also, since last year Theta supports the Ethereum RPC API similar to Binance Smart Chain and the Polygon Network. Theta utilizes a proof-of-stake consensus mechanism which means participants lock large amounts of THETA tokens to gain the right to process transaction blocks.
Theta in summary
Because server locations limit video streaming platforms and content distribution networks, ordinary content distribution networks are paid to deliver video content to end-users, but centralized servers simply can’t keep up with the ever-increasing demand.
Theta encourages a global network of users to create and support a fully decentralized video streaming platform. Bridging gaps between streaming quality and speed by enabling its global user network to relay videos using its computing power and spare bandwidth.
The more users are active on the network, the more bandwidth available for video streaming, increasing streaming speed and quality with each new node. Additionally, Theta can enable content creators to exercise more control over their content and monetization techniques.
Learn more about Theta and visit the dapp rankings.