Decentralized movie streaming company Theta Community will host a three-thirty day period-prolonged hackathon commencing up coming 7 days to establish innovations on the platform.
“Join us in building solutions, integrations and equipment for the Theta ecosystem to decentralize online video infrastructure around the globe!”
The Theta Community requests that programmers post applications, SDKs, or protocols to make improvements to its use scenario, operation, and useability. Illustrations of such projects consist of integrations with other online video platforms, dApps, NFTs, analytics equipment, and block explorers.
CEO Mitch Liu and CTO Jieyi Prolonged will judge the submissions. The scoring criteria will fat 40% to value additional to the Theta ecosystem, 40% on execution, and 20% on innovation.
The Q1 2021 Theta Hackathon launches on Monday, January 18th! The hackathon will run until eventually mid-April main into Mainnet 3. start, and the best 3 submissions will be awarded $50k, $25k, and $10k worthy of of THETA tokens. Learn how you can take part in this article: https://t.co/HbNsWz7r4M pic.twitter.com/AZgA7sP4M8
— Theta Community (@Theta_Network) January 13, 2021
The initially prize winner(s) will get Theta tokens to the value of $50k, with 2nd and third earning $25k and $10k, respectively.
Mainnet 3. Aims to Revolutionize Blockchain Online video Streaming
The Theta Network’s objective is to disrupt conventional streaming platforms, these kinds of as YouTube, Netflix, and Twitch.
By creating a decentralized streaming infrastructure making use of Validator, Guardian, and Edge nodes, Theta hopes to reward creators and viewers with a even larger slice of the revenue though also addressing critiques of centralized platforms, which includes censorship.
As talked about in the above tweet, the hackathon will guide into Theta’s Mainnet 3. launch, scheduled for April 9, 2021.
Mainnet 3. builds upon the earlier iteration by adding two innovations. These are the inclusion of Elite Edge nodes, also the implementation of a TFUEL burning mechanism.
Theta neighborhood members host the Edge nodes. They type an integral element of the P2P decentralized network by facilitating the relaying of video.
With the Mainnet 3. update, “uptime mining” is activated to help the tokenization of net bandwidth and community availability.
As this sort of, users can stake TFUEL to an Edge node and get benefits back again for doing so. Staking to an Edge node updates it to an Elite Edge node in the course of action. The Theta workforce expects staking rewards to appear out at in between 2-4%.
But that is not all. The new Mainnet start will also bring in a TFUEL burning system to counter inflationary pressures.
“With Theta 3., a minimum of 25% of each and every TFuel payment to the edge community will be burned at the protocol degree, properly turning into a value for applying the community. In the prolonged-operate as Theta’s edge network turns into far more commonly adopted, this could meaningfully lower the offer of TFuel.”
Massive Moves See Theta Outperform Industry Chief
The efficiency of Theta above the very last 12 months has noticed an astonishing 2000% achieve. More than the identical interval, Bitcoin managed 330%.
As found in the value chart, the bulk of the gains adopted the firm’s Mainet 3. release announcement, built in December 2020.
Pursuing that, the token has been growing strongly in the CoinMarketCap rankings. At the moment, it is put 18th, with Tron in line to be overtaken.
With that, can Theta manage this degree of momentum heading into 2021?
Supply: THETAUSD on TradingView.com