The total market capitalization of the cryptocurrency market including Theta surpassed $3 trillion this month. This figure is far too large to ignore, implying that practically cryptocurrencies interest everyone these days.
Most beginners, on the other hand, have a hard time understanding what cryptocurrencies are and why they are innovative.
Many well-known cryptocurrency projects went under scrutiny for being difficult to comprehend. As a result, the popularity of Theta is fast-growing. Theta network offers the clearest user case for any decentralized project that the writer is aware of.
When Netflix transitioned to streaming in 2007 and derided in 2017. To stream video information, the connection was simply too slow. However, it was overlooked that the internet was improving and would eventually be able to support Netflix without issue. In retrospect, it was a foresighted move on the part of the company, and it’s one of the reasons it’s one of the best stocks of the last decade.
However, today’s internet speed is unlikely to be sufficient to meet the strain of tomorrow. Streaming in 4K quality is only now becoming increasingly popular. However, future bandwidth hogs such as 8K streaming, multiplayer synchronous video games, and deep metaverse experiences may cause the existing system to slow down.
Slow internet connections are currently compensated by bringing content closer to the end-user via content delivery networks (CDNs). Cloudflare and Fastly are two well-known companies that profit from this market.
However, putting content on centralized servers has a drawback: if they go down, the internet becomes dark. Fastly, for example, went down earlier this year, bringing down large websites such as Amazon and Reddit with it.
Because Theta is a decentralized CDN, it overcomes this issue. Anyone with appropriate computing capacity can join the Theta network as an edge node by contributing to their computer. Users can simply access material from all of the other nodes on the network if one edge node goes down.
Theta Overcomes the CDN Challenge
However, it also enhances the benefit of CDNs. Traditional CDNs are always close to end-users geographically, enhancing connection speeds. Theta nodes, on the other hand, are theoretically closer to the user; the next-door neighbor may be an edge node.
Multibillion-dollar corporations such as Samsung and Sony are also investors in Theta. Both of these corporations are expanding their esports presence, which explains why they’re interested in the Theta project. As the display resolution of streaming games rises, the esports industry is now attempting to solve the barrier of sluggish internet rates. Serious gamers, after all, can’t afford even a split-second error when competing online.
Perhaps the Theta network will be the answer to quicker video and video game streaming speeds. And, given the size of those markets, this may be significant.
Theta Labs, the project’s creator, just received a patent for its decentralized CDN concept. As a result, any competitors to Theta face a significant challenge.
Theta, like the majority of cryptocurrencies, is a very volatile asset. The price of a token peaked at $15.90 early this year and has subsequently dropped by more than 60%. Surprisingly, the patent was granted during this downturn. This, if anything, should have served as a catalyst. However, fundamental improvements to the investing premise do not appear to be helping Theta right now.
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