Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Theta Launches Testnet for Blockchain Video Delivery Network with $2M Dapp Development Fund

Theta Launches Testnet for Blockchain Video Delivery Network with $2M Dapp Development Fund

Public testnet for first video delivery network built on native blockchain now available to 3M+ users; code base open-sourced on Github

CUPERTINO, Calif- Theta, the first video delivery network powered by blockchain, today launched a testnet (Beta) to introduce its decentralized blockchain video streaming protocol. To support the testnet, Theta is launching a $2M Dapp Development Fund to empower developers to create new decentralized apps (dapps) that harness the power of Theta’s network to engages users and reduce CDN costs. The testnet initially integrates with, a leading esports streaming website with over three million users, and extends Theta’s leadership in technological development while marking an important step toward mainstream availability.

“We first invested in for its novel approach to mitigating the bandwidth-intensive costs of video streaming,” said Ajay Singh, Samsung NEXT Ventures. “The Theta testnet represents the evolution of’s initial thesis, and builds on the idea of a decentralized content delivery system. With the launch of the Theta testnet, developers can begin using blockchain to deliver video, ensure content integrity, and reward content creators in innovative new ways.”

Theta invites business partners and community developers to seed the ecosystem and prepare Dapps for the upcoming mainnet launch slated for late 2018. Theta is an open protocol, capable of supporting Dapp partners in various segments which include streaming video, enterprise video conferencing, online education, music and journalism, among others. Bitmovio, a decentralized Netflix-like video platform incubated at Play Labs at MIT, is building on Theta’s testnet and is the first Dapp to receive funding from Theta’s Dapp Development Fund.

“Bitmovio is building a breakthrough model for entertainment content creators that can only be enabled by the power of the Theta blockchain,” said Bill Guttentag, a double Oscar-winning filmmaker and a founding advisor to Bitmovio. “For too long, streaming has been passive and lacked the power of engagement and interactivity to create superfans. Existing content delivery systems are ripe for disruption, and Bitmovio and Theta are at the forefront of this revolution.”

“This launch extends Theta’s technological head start as the only active decentralized video delivery network,” said Mitch Liu, co-founder and CEO of Theta Labs. “Launching our testnet and $2M fund empowers developers to push the limits of our blockchain network and create innovative apps that take advantage of decentralized video streaming. We believe future decentralized video platforms will be built on Theta infrastructure — so let’s get started.”

The Theta open source project includes the source code of the Theta mesh delivery protocol client as a packaged Javascript library, and the full source code of the Theta blockchain ledger protocol, server-side Theta wallet and Blockchain explorer. The mesh delivery protocol handles bandwidth sharing, and enables instant browser-to-browser stream data sharing among viewers. In turn, the blockchain ledger protocol governs the token rewards that incentivize bandwidth sharing among peer viewers. It is implemented as a high-performance Proof-of-Stake blockchain built on top of a PBFT consensus engine.

To apply for resources from the Theta Dapp Development Fund, developers should reach out to the Theta team here.

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post