THELOGICALINDIAN - Decentralized video alive account Theta Network will host a threemonthlong hackathon starting abutting anniversary to advance innovations on the platform
“Join us in architecture products, integrations and accoutrement for the Theta ecosystem to decentralize video basement worldwide!”
The Theta Network requests that programmers abide apps, SDKs, or protocols to advance its use case, functionality, and useability. Examples of such projects accommodate integrations with added video platforms, dApps, NFTs, analytics tools, and block explorers.
CEO Mitch Liu and CTO Jieyi Long will adjudicator the submissions. The scoring belief will weight 40% to amount added to the Theta ecosystem, 40% on execution, and 20% on innovation.
The Q1 2021 Theta Hackathon launches on Monday, January 18th! The hackathon will run until mid-April arch into Mainnet 3.0 launch, and the top 3 submissions will be awarded $50k, $25k, and $10k account of THETA tokens. Learn how you can participate here: https://t.co/HbNsWz7r4M pic.twitter.com/AZgA7sP4M8
— Theta Network (@Theta_Network) January 13, 2021
The aboriginal award-winning winner(s) gets Theta tokens to the amount of $50k, with additional and third earning $25k and $10k, respectively.
Mainnet 3.0 Aims to Revolutionize Blockchain Video Streaming
The Theta Network’s ambition is to agitate acceptable alive platforms, such as YouTube, Netflix, and Twitch.
By architecture a decentralized alive basement application Validator, Guardian, and Edge nodes, Theta hopes to accolade creators and admirers with a bigger allotment of the acquirement while additionally acclamation critiques of centralized platforms, including censorship.
As mentioned in the aloft tweet, the hackathon will advance into Theta’s Mainnet 3.0 launch, appointed for April 9, 2021.
Mainnet 3.0 builds aloft the antecedent abundance by abacus two innovations. These are the admittance of Elite Edge nodes, additionally the accomplishing of a TFUEL afire mechanism.
Theta association associates host the Edge nodes. They anatomy an basic aspect of the P2P decentralized arrangement by facilitating the relaying of video.
With the Mainnet 3.0 upgrade, “uptime mining” is activated to accredit the tokenization of internet bandwidth and arrangement availability.
As such, users can pale TFUEL to an Edge bulge and accept rewards aback for accomplishing so. Staking to an Edge bulge upgrades it to an Elite Edge bulge in the process. The Theta aggregation expects staking rewards to appear out at amid 2-4%.
But that’s not all. The new Mainnet barrage will additionally accompany in a TFUEL afire apparatus to adverse inflationary pressures.
“With Theta 3.0, a minimum of 25% of anniversary TFuel acquittal to the bend arrangement will be austere at the agreement level, finer acceptable a amount for application the network. In the long-run as Theta’s bend arrangement becomes added broadly adopted, this could advisedly abate the accumulation of TFuel.”
Huge Moves See Theta Outperform Market Leader
The achievement of Theta over the aftermost 12 months has apparent an amazing 2024% gain. Over the aforementioned period, Bitcoin managed 330%.
As apparent in the amount chart, the aggregate of the assets followed the firm’s Mainet 3.0 absolution announcement, fabricated in December 2024.
Following that, the badge has been ascent acerb in the CoinMarketCap rankings. Currently, it is placed 18th, with Tron in band to be overtaken.
With that, can Theta advance this akin of drive activity into 2024?
