Theta blockchain developers announced that they will extend preparations and the launch of the network’s next version, Theta 3.0, until June, in order to conduct more thorough and in-depth testing of the code and its NFT marketplace, and ensure a successful launch.
Theta, the net blockchain for video streaming, prepares its third version, Theta 3.0, loaded with new features and improvements that will provide users with the best experiences within the network, including interaction with tokens NFTHowever, the launch initially planned to take place next April will be extended until the end of June.
The developers of the protocol reported to the crypto community and stakeholders who decided to postpone the launch of the new version until June to focus on conducting in-depth tests on the code and its NFT market, considering the huge boom that these tokens have sparked in the crypto community currently.
The network development team has been working on the Theta 3.0 release for several months, and they note that they have made great progress. The new version of the protocol will integrate Elite Edge nodes to improve network scalability and tokenize Internet bandwidth. In addition, it will launch a service staking for users to generate returns by staking their TFUEL tokens within the network, and will activate the burning of tokens on the mainnet, which will favor the value of Theta in the medium and long term.
However, as the developers point out, to ensure the network runs smoothly and efficiently as it scales to over 100.000 Elite Edge nodes, it is important to have additional time for deeper review and more thorough testing of the code. This additional time will also allow the developers to build and incorporate some basic elements into their Theta NFT marketplace, one of the most important sectors of the crypto industry today.
“The Theta Mainnet 3.0 launch date will be moved from April 21st to June 30th, 2021. While delays are never ideal, we believe this change is the prudent path to take to ensure a successful Mainnet 3.0 launch.”
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Key opportunities in NFTs
As mentioned, one of the reasons why developers feel it is prudent to extend the launch of Theta 3.0 is NFTs. For Theta Labs, the development and growth opportunities that come with NFTs today is what has compelled developers to devote more time and resources to building Theta NFT, the next marketplace for non-fungible tokens in the industry.
Additionally, due to the huge NFT boom at present, Theta is focusing on helping its Theta Elite Edge nodes become a “true decentralized and universal edge storage for NFTs”, connecting their ecosystems with those of other blockchain networks.
A fast-growing blockchain
Theta is a blockchain born to facilitate the delivery of peer-to-peer (P2P) video content, without intermediaries. Since its launch in 2019, Theta has been innovating the industry, integrating functionalities that allow users to stream and share live video content to users around the world, transcode content in real-time, cache, and much more. All this through Theta's P2P network, which is managed by thousands of community members globally.
Also, within this network, users, viewers, content creators, and other participants have the opportunity to monetize their talent and time. In Theta, network users receive earnings and income for their participation within the blockchain platform.
The decentralized network recently integrated support for smart contracts, announced the launch of ThetaSwap, a decentralized exchange (DEX) to participate in the DeFi and received its second patent to create and protect a unique and trusted blockchain-powered payment system, as a solution to overcome bandwidth limitations and ensure the distribution of web content and streaming of high-quality video data worldwide.
All these elements led its native token THETA to reach a new high of $14,8 per unit, and enter the TOP 10 of the most important cryptocurrencies on the market, with a market capitalization of $13.770 billion yesterday.
Continue reading: Theta joins the DeFi ecosystems through its decentralized exchange ThetaSwap
