Theta blockchain platform has been operating since the beginning of 2018. During this time, many crypto experts and blockchain analysts became interested in it. This is primarily due to the investment attractiveness of Theta Token cryptocurrency. But in order to understand the perspectives of the coin and soothsay its price, we should learn the features of the project standing behind it.
Contents
What Is Theta Project?
Theta is a blockchain platform and cryptocurrency of the same name. As conceived by its creators, they should be used for the functioning of a decentralized network for delivering and viewing videos and streams.
Users of this platform are encouraged to share unused memory and computing power of their computers with the help of Theta Token. Thanks to this, viewers, if they wish, will be able to offer their devices as caching / rebroadcasting nodes for a fee. This creates a video delivery infrastructure to other viewers. This scheme resembles mining, but in fact it is different.
The project’s team expects their platform to be used by the creators of decentralized television apps, music, films, training programs, and corporate conferencing. The network is already integrated into SLIVER.tv (a platform for various video content). This is not surprising, because SLIVER is the parent company of Theta Labs, Inc. In fact, the blockchain platform was created primarily for its needs.
The company also has other partners, namely SamsungVR and Aelf. SamsungVR has the largest collection of VR apps that can be viewed on many devices. Aelf is a new decentralized cloud blockchain network with high-performance segregation of resources and a management structure.
The Theta team promises that other equally important and promising partnerships will be announced in 2019.
The Project’s Blockchain
The essence of Theta’s technical solution is to create an off-chain pool for micropayments to support the ultra-high transactional bandwidth required for the global transmission network and streaming video content. So far, the project’s own blockchain is at the final stage of development, but very soon the crypto community will see all its benefits.
For the time being, the platform is based on the Ethereum blockchain, using a proof-of-work (PoW) consensus algorithm. However, its native blockchain will use proof-of-stake algorithms based on the Tendermint protocol. It is believed that this will significantly increase the scalability of the network and reduce the loss of resources.
With the launch of Mainnet to the network, the proof-of-engagement (PoE) (proof of participation) consensus algorithm will start functioning. With the help of PoE, viewers can earn network tokens as a reward from advertisers in exchange for their attention to video content. In addition, advertisers will receive reliable and controlled interaction with broadcasted video stream.
Theta Token (THETA) Cryptocurrency
The blockchain platform token has an unpretentious name Theta Token. At the moment, this is not an ERC-20 token based on Ethereum blockchain. The swap has begun, which means the old token is exchanged for a new one in an 1:1 ratio.
The main task of the altcoin is to serve as a long-term incentive mechanism for network users.
THETA performs the following functions:
- it can be used as a reward for caching streams and their rebroadcasting;
- users can donate in Theta to support streamers and video content creators;
- it can be used for financing advertising campaigns by advertisers;
- it also can serve as a reward for viewers from advertisers for attention to advertising content.
Analogs of this coin are application tokens exclusively for ERC-20. They do not have the technical ability to function at the structural level of video broadcasting with built-in incentives.
The cryptocurrency became available for trading and investment on January 17, 2018. It is traded now at multiple top crypto exchanges.
Where to buy THETA?
- Binance (the most traded pair is with bitcoin);
- Bithumb (there is only pair with KRW);
- Huobi (maximum trading volumes are observed in a pair with USDT);
- Fatbtc (here you can buy the coin with ETH);
- Hotbit, OKEx, Gate.io, IDEX, DDEX (trading volumes are low at these crypto exchanges).
Team
Theta team members used to develop streaming video applications. They also participated in projects related to virtual reality. Some of them have received patents on technologies that are used in the media field. Here are leadership members:
- Mitch Liu (Cofounder / CEO);
- Jieyi Long (Cofounder / Chief Technical Officer);
- Ryan Nichols (Chief Product Officer);
- Riz Virk (Head of Corporate Development).
You can see blockchain stuff on the screenshot below.
The Company’s Partners and Investors
The company has a lot of partners and investors. It has agreed on strategic partnership with the following firms:
- Sierra Ventures;
- Sparkland;
- Nirvana Capital;
- Synapse Capital;
- Aelf (as mentioned above);
- Gumi, and others.
The list of investors is as follows:
- DHVC;
- DCM;
- GREE;
- Greycroft;
- BDMI;
- The Venture Reality Fund, etc.
According to the information on the project’s official website, such behemoths as Samsung and Sony are also its investors. It should be noted that some companies are both investors and partners.
Theta Token News that May Affect the Price
Not to mention the launch of Metachain on December 1, 2022. This is a very important event that is fundamental to the future of the network. This is not a hype thread. Such upgrades are met with a restrained price in the short term. A long-term view of things makes understanding crypto enthusiasts bullish. The main thing is that the further development of the network should not move towards centralization. This is a possible option, taking into account the latest trends in the market as a whole. In this case, the prospects become not so rosy.
THETA Price Prediction for 2023
You can visit CoinMarketCap and see the all-time cryptocurrency price chart. Please note that this is an altcoin with history and background. It is included in the list of the most profitable coins of 2021. The apparent further drain made investors nervous, but from the summer of 2022 a long period of accumulation began, which will bear fruit.
An analysis of the features of the project leads us to the conclusion that THETA is still a very promising token. We will present the main factors that potentially indicate the future growth of the coin.
Price growth factors are as follows:
- the project has managed to earn a good reputation;
- the blockchain being developed is unique in its decisions regarding the video and stream content delivery industry;
- fast switching to Mainnet;
- high popularity of the coin, which is traded on the main crypto exchanges;
- availability of information about the project and its future plans;
- governments might be interested in the project as it can be used in educational purposes (distance learning).
We advise you to pay attention to the company’s website. There is nothing superfluous on it. There you will find everything you need for possible investments or direct participation in the project. We think it’s possible to compare Theta informational base with that of Zilliqa project. Read our ZIL overview and analysis of perspectives.
After weighing all the pros and cons, we’ve made our Theta price predictions for 2022-2023, which you can see in the table below.
| Period | THETA Price Prediction |
| Fall-Winter 2022 | $0.94 |
| Early 2023 | $1.8 |
| Spring 2023 | $2.6 |
| Summer 2023 | $4.4 |
Technical analysis
In 2022, the coin found its support level in the area around $1. In addition to being an important price zone, it is also a psychological level. There is a lot of liquidity behind it, which must inevitably be withdrawn.
The immediate upside target is around $2.6/coin. This area cannot fail to react to the downside, but given our bullish sentiment for 2023, the level will be broken.
The final target, which is very plausible, is $4.4. A return to the maximum price is possible only together with a similar movement of bitcoin, so you should not run so far.
Why Do We Need Theta Network in 2023?
The project’s network is designed not only to become a base for exchanging video data but also to solve a number of problems in the stream industry. The network functions to improve the processes of creating and consuming video content in three ways:
- Improving the quality of streams by offering an optimal technology that solves the “last-mile” problem.
- Reducing the cost of networks and simplifying content delivery processes to the consumer.
- Improving the efficiency of video ecosystem and the transparency of payments and advertising.
In addition, the platform allows one to receive a reward for maintaining the network.
Disclaimer: We’ve analyzed the project and the factors affecting its future prospects. Our positive opinion about this cryptocurrency may be wrong. Trust only those facts that you get personally from primary sources. This will allow you to make reasonable investments and your own cryptocurrency price forecasts.
