There’s no denying the fact that Theta is one of the most discussed cryptocurrency projects on the market in 2021, so much so that the Theta token has already made its way into the top 10 list of cryptocurrencies by overall market capitalization, in what feels like almost no time at all.
In its most basic sense, Theta can be thought of as a decentralized video streaming platform that has been built using a blockchain framework. The platform seeks to mitigate many of the problems being faced by the traditional video streaming sector, allowing for the relay of high-quality video content at relatively low costs.
On a more technical front, it bears mentioning that Theta’s video streaming mechanism largely hinges on a distributed network of users who voluntarily contribute their spare computing resources to make sure that the platform works smoothly. For their efforts, they are rewarded in the form of Theta Fuel (TFuel) tokens.
Network users can also earn Theta tokens as a reward for sharing their content online via the platform’s native content transcription and distribution decentralized application called EdgeCast. As a result, Theta has put forth the technological proposition of a user-driven holistic media ecosystem that focuses on providing everyone with uninterrupted entertainment services, all while eliminating the need for any centralized authority.
But is that proposition really driving enough interest to merit a top 10 spot by market capitalization?
A closer look at Theta’s performance
Theta’s rise since the start of the year has been nothing short of spectacular, as is best highlighted by the fact that the currency’s value has surged from $1.82 to just over $14 during that timespan.
It also bears pointing out that the global video streaming industry is projected to expand at a compound annual growth rate of 20.4% within the next six years. The Theta team seems to be betting on exactly this and has devised multiple avenues through which to deliver…