Theta Network is a decentralised blockchain built for media and entertainment content. Founded by Mitch Liu and Jeiyi Long in 2017, Theta rewards users for renting their computer resources and bandwidth on a P2P basis. Theta supports Turing smart contracts and is fully compatible with Ethereum, meaning that users can build a wide range of Web3 decentralised applications (dApps) on the network such as decentralised exchanges (DEXs), non-fungible tokens (NFTs), and decentralised autonomous organisations (DAOs). Anyone is able to broadcast video, set up a TV channel, or consume media and entertainment content quickly and at high-quality on any device using the Theta Network.

THETA is Theta’s native cryptocurrency, and in its founding year, the company raised $20 million by selling 30% of its 1 billion tokens. Theta’s governance council is led by global industry leaders, including Google, Samsung, and Sony, and the company is partnered with some of the biggest names in content production like MGM Studios and more.

Theta functions as a dual network and is split into the Theta Blockchain – which provides payment, smart contract capabilities, and rewards – and the Theta Edge Network – which deals with the storage and delivery of media content, such as videos and images. The Theta Blockchain uses a unique BFT consensus to produce more blocks in the chain, and validators use THETA, Theta’s governance token, to stake on the network. By staking, validators earn THETA FUEL (TFUEL), which is the operational token of the Theta ecosystem. The blockchain can process 1,000 transactions per second, and has almost no carbon footprint.

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