Theta Labs launches the beta release of its video platform

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Dec 5, 2020
  • Theta Labs recently announced the launch of its blockchain-based video streaming platform.
  • The platform, which was in development for over three years, is fully decentralized and available globally.
  • The company's CEO noted that the project has been a major challenge, and that this is a huge accomplishment.

Theta Labs, a blockchain project that aims to deliver decentralized video streaming to the masses, has just made a major move forward. The project’s recent announcement revealed that its streaming platform is coming out in beta.

Theta Labs’ video streaming platform is finally ready

The announcement of the platform’s beta release came this Thursday, December 3rd. The so-called Theta Edgecast platform will allow users, while at the same time, it will lower the cost of video content delivery through the use of a distributed network.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Essentially, Edgecast is a dApp that was created on Theta Labs’ P2P video blockchain technology. It is powered by Theta Edge Network, which currently has around 2,690 nodes, based on the announcement.

It is also worth noting that Theta Labs received assistance from Google earlier this year. The tech giant behind the world’s largest search engine linked up with the project to help with the video delivery network by onboarding new users via its Google Cloud. The company even helped with the launch of Theta (THETA) mainnet 2.0.

How does the platform work?

Theta Labs has been working on its video platform for a long time, now. It actually started building it back in 2017. Mitch Liu, the company’s CEO, stated that the firm’s core thesis was to create a fully decentralized video infrastructure.

The platform allows users to capture a video, transcode it in real-time, caching it, and relaying the captured content to its users across the world. The same network is also powering Theta.tv, which is the project’s esports streaming platform.

Liu stressed that this means that there is not a single centralized service, or even a server, in the entire Theta ecosystem, which is a major accomplishment. However, Liu also noted that it was quite a challenge to achieve it.

As part of the platform’s official launch, The World Poker Tour revealed that it will offer non-stop content on Theta Edgecast. As a result, users will be able to watch the games from the platform, directly.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money