Theta is revolutionizing video streaming. They want to reduce the content delivery costs of networks. Theta does this with a network of shared content. Therefore, now they announced their new Mainnet 4.0 upgrade that goes by the name of Metachain.
We will show you the highlights of their new Theta Metachain and Mainnet. So, let’s see what this is all about.
Theta Metachain will Revolutionize Video Streaming.
The Theta Metachain will power Web 3.0 businesses. You can compare the new Web 3.0 tools to the state of the internet in early 2000. Everything is about to change, and Theta wants to be at the forefront.
Currently, in Web 2.0, big companies like Netflix take 80% of the created value. 10% goes to the creators and 10% to the users.
Introducing the next evolution of Theta blockchain – Theta Metachain goes live in Q4 2022. Learn how Theta Metachain is designed to scale to the needs of Web3 businesses in the new whitepaper: https://t.co/5FnRkKgvIp pic.twitter.com/k8L8vpheXX
— Theta Network (@Theta_Network) April 8, 2022
As a result, Theta intends to change this situation where new businesses will take only 20% of the created value. Also, they can offer bigger scalability, to 10x. This allows the new Web 3.0 firms to be 200% more successful. This, in turn, has the potential to make the current Web 2.0 businesses obsolete. Just like it happened in the early 2000s. That’s when Netflix made video rental companies obsolete.
Note: On April 18th, 2022, we published the article “Cosmos Theta Upgrade Quietly Goes Live Boosting Interoperability“. In that article, we talked about how Theta, the latest Cosmos Upgrade, has optimized the user experience in the Cosmos ecosystem. However, we putted a wrong featured image and first subtitle. These errors have been corrected and we regret the error.
Theta Mainnet 4.0
The Theta mainnet 4.0 gives platforms the option to run their own subchains. As a result, they can manage and control their governance and tokens. Furthermore, they can build their own ecosystems. In the meantime, they still have all the benefits of the new Theta Metachain. This will be very cost-effective. In the same vein, scalability plays an important role.
1/ Aiming at powering future Web3 Businesses, Theta Labs is introducing the Theta Metachain concept, which is a "chain of chains" that can freely scale horizontally and potentially achieve 1-2 seconds, or even subsecond block finalization time. A 🧵 https://t.co/jz5jRJ9pYX pic.twitter.com/UU5C7vMtKj
— Jieyi Long | Theta Network (@jieyilong) April 11, 2022
Moreover, participating platforms will need the Theta token to run their subchains. On the other hand, each subchain can use its own token. As a result, there is a higher demand for the Theta token.
According to their new white paper, expect the Testnet launch on October 1st, 2022. This also includes the Theta Metachain SDK. The general release should be on December 1, 2022.
The Price of the THETA Token
The THETA token went up by 3.4% during the last 24 hours and is at $3.19. During the last 30 days, it was up 10.7%. Also, the market cap is currently at $3.18 billion, and all 1 billion tokens are in circulation.
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