Theta Network has started to develop online as interest in the project increases.
Theta Network, the native token of the Theta platform, has seen an increase in price and volume in recent days. Trading volume for the project increased 77% to $527,567,567, while its price has gained 1.6% over the past 24 hours to a price of $9.41.
A related token created for another aspect of the Theta platform, Theta Fuel, has also performed well recently, increasing by 12% in the last 24 hours.
Theta is a platform designed to monetize streaming video platforms, such as movies, TV shows and sporting events.
In the wake of the pandemic, people were stuck in their homes, and so streaming platforms recorded record sales. This also spurred the purchase of Theta, which could be the explanation for why the project could see some gains.
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What makes Theta a good buy at the moment?
The platform aims to work around bandwidth issues in video streaming by hosting videos on a decentralized blockchain. This could be a game changer in countries where there is limited internet infrastructure, but a growing number of consumers who want to access online content more than ever before.
Nodes would be able to cache content and provide easier access. Network participants acting as” cache nodes ” would be rewarded with tokens to create an incentive for network hosting of video streaming content.
This could have a big impact on how streaming works, especially for areas of the world that are still a decade or more away from a full Internet infrastructure, such as remote parts of Africa, Asia, and Russia.