A recent study by CISCO highlighted that by 2022, online videos will make up more than 82% of all consumer internet traffic and by 2026, the video streaming industry will be worth a reported $149.34 billion. These numbers represent an increasing demand for online streaming services as the world spends more time online than ever before.
But there are issues within this rapidly growing sector. Not only is the general quality of video used in live streaming relatively poor (even with global accessibility of high-speed internet), but content delivery networks (CDNs) do not cover all corners of the globe yet which results in slow loading times and constant re-buffering for many thousands of viewers. Lastly, today’s centralized live streaming platforms act as middlemen services, eating into the profits of the very content creators that make them so popular.
A Next Generation Video and Entertainment Blockchain, Powered By Its Users
With a decentralized peer-to-peer (P2P) video delivery model run on blockchain technology, Theta looks to replace centralized content delivery models that are run and controlled by big names in the industry such as YouTube and Twitch. Theta enables users to watch high definition video streaming content and earn token rewards while they do so; by sharing their excess bandwidth and resources and participating in the overall Theta Network they are rewarded with TFUEL tokens that can be traded on various popular exchanges, staked or stored on the platform’s Theta Wallet, which also has a Chrome extension.
Content creators can bypass middlemen services and earn TFUEL for their content streamed on Theta.TV, the platform’s main streaming service which is part of a wider open-source streaming network.
Theta is supported by some major names in technology and blockchain including Samsung and Binance; Google are enterprise partners of the company and their advisory board includes Steve Chen, Co-Founder of YouTube and Kyle Okamoto who is Chief Network Officer at Verizon Digital Media. Theta raised $17 million with the participation of names like Samsung, Sony and Atari.
Data privacy is a global issue that has taken centre stage in recent years, especially as the world spends more time than ever online in the wake of COVID-19. Various high-profile hacks and data breaches have occurred this year, with the U.S. the worst affected – U.S. computers connected to the internet are attacked on average every 39 seconds, with a whopping 45% of American citizens’ personal information compromised by data breaches in the last five years.
Decentr’s exciting approach to an internet of value means that all users of the platform have their own personal data value (PDV) and can derive tangible value from their data. Offering users a suite of features and tools that include payment solutions, a DEX (decentralised exchange) and a secure decentralised ID and wallet. Merchants using Decentr can accept the platform’s native DEC token as payment for goods and services from users, utilising dPay for online transactions.
Moving a step further and looking to become part of the DeFi (decentralised finance) revolution, Decentr also enables users to loan or borrow DEC tokens using their dWallet and in some cases through external DeFi dApps like Aave and Compound, with the variable APR they receive being based on the platform’s ADV, combined with the user’s PDV. Anyone can also buy or sell fiat, tokens and/or data through the platform’s internal DEX.
The Decentr team combines many years of expertise in software engineering, dev ops, mobile application and enterprise web development with senior developers having worked on exchanges, data storage, distributed computing and more in the past. As detailed in their 2021 roadmap, Decentr plans to complete multiple blockchain integrations with projects such as Chain Link and Tomochain and have recently partnered with open data marketplace Ocean, making their ERC-20 datatokens accessible and tradable via the Decentr dEX and accelerating the move into a new data economy.
As blockchain and the promise of a decentralized web begins to mature, the opportunities for both web users and businesses to monetize more effectively will continue to expand. The days of heavily monopolized tech sectors may well be up and some of the world’s brightest minds are working around the clock to give back the over nearly 5 billion web users around the world control of their data, time and content, resetting the scales and bringing fair value back to the internet.