Analyst Lark Davis explains the reasons Google, Samsung, Sony, and Binance all back THETA
In the recent video, crypto KOL Lark Davis explains the reasons Google, Samsung, Sony, and Binance all backing THETA and gives his prediction about the price potential for this coin.
The cryptocurrency market has blown up in the past year, with every other token setting a new record high this year. Among those, THETA is one of the best-performing cryptocurrencies “that has been moving from strength to strength over the last few months. It’s managed to even now breach into the top 10 rankings for the first time in its history”.
Theta (THETA) is a blockchain-powered network purpose-built for video streaming.
“Theta’s main business concept is to decentralize video streaming, data delivery and edge computing, making it more efficient, cost-effective and fair for industry participants”.
Being a proof-of-stake platform, Theta is very efficient and can process up to 1,000 transactions per second.
“The Theta Network operates by using unused Internet upload bandwidth. It automatically rewards people providing that with TFUEL tokens, basically paying you for watching your favorite content”.
The network has generated immense excitement at the prospect of launching its mainnet 3.0 which was originally planned in April. However, the team behind the project announced that it would delay the launch by 3 months till June 30, 2021.
In continuation of the video, Davis points out the 3 outstand selling points of Theta:
“Currently, Google, Sony, Samsung, and Binance, among quite a few other big but lesser-known companies are operating nodes running the Theta Network. They are using enterprise validator nodes. That’s a big deal. Not many blockchains can boast about something like that”.
Moreover, a second key feature is the Aggregated Signature Gossip Scheme:
“Basically, it allows for significantly reduced messaging complexity between nodes and makes it easier for the network to communicate between different computers”, he explains.
The third selling point is a resource-oriented micro payment pool that actually allows a user to create off-chain micropayment pools purposely built for video streaming.
“This allows viewers to be able to reward content creators directly. That’s pretty cool, meaning that creators can have more freedom and of course less reliance on advertisers and third-party hosting websites”.
At the end of the video, Davis points out that Theta has proven to be a token that has real-world applications and is not just riding the hype.
“We will continue to hear a lot about in the future of the crypto economy”, he adds.
However, the crypto KOL urged caution when investing in this coin in its current run as it has seen 9x return this year and is bound to see a correction soon.
“Remember, mainnet v3 was delayed for 3 months. That’s a long time in crypto land for people to pay attention and keep the hype train going. My guess is that you will get some good entry points before the V3 launch. But do keep in mind that the V3 launch is coming in June. It will likely see a new hype cycle heating up three or four weeks before the June launch”.
Disclaimer: Opinions expressed at AZCoin News are not investment advice. Investors should do their due diligence before making any high-risk investments in cryptocurrencies. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. AZCoin News does not recommend the buying or selling of any cryptocurrencies.
Read more:
- Analyst Mike Jenkins Says This Altcoin Could Supercharge Gaming NFTs
- Here Are Micro Cap Altcoin Gems With 1000x Potential, According To Crypto KOL Josh Moden