Internet giant Google has teamed up with blockchain platform Theta Labs as a corporate validator of its blockchain-based video network.
The announcement was made known by the streaming platform Theta Labs. Who also reported that it has allocated around $2,4 million to the Google Cloud node in platform tokens (THETA).
Likewise, Theta Labs announced that Google Cloud will be the company's fifth Enterprise Validator. And that he would be with Theta as a partner in his network Theta Mainnet 2.0, which was launched this May 27.
In addition, the alliance with Google will provide Theta Labs with access to this company's Premium services. Such as YouTube. Which is a key and fundamental piece for the development and expansion objectives that the platform has planned.
With this union, Google becomes the first corporate validator in Europe, which will have a node at its headquarters located in Ireland. The Japanese investment and development fund is also incorporated into the alliance Gumi Cryptos. In addition to cryptocurrency exchange Binance and the risk fund Blockchain Ventures. Who will have the task of verifying all transactions carried out within the Theta network.
Likewise, Theta Labs aims to bring together 31 corporate validators in total for its blockchain network. It also intends to continue its collaborations for the development of studies and research that promote the growth of blockchain technology. As well as artificial intelligence, IoT, Big Data, among others.
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Google will be more than a validator on the Theta Labs platform
The fundamental role of validator nodes in the Theta network is to propose, verify and generate new blocks within the blockchain. Therefore, they are constituted as the central protocol of the network, responsible for maintaining its high-level consensus. A protocol of which Google will now be an essential part.
But in addition to being a corporate validator and partner of Theta, Google has become the platform's favorite cloud provider. Providing its services so that users of the Theta network can run their nodes directly through Google Cloud.
In reference to this, Theta Lab CEO and co-founder Mitch Liu mentioned that:
“We are delighted to deepen our partnership with Google Cloud in a number of key strategic areas to accelerate the adoption of Theta across industries.”
Expressing their clear enthusiasm that Google Cloud will also help them boost the video platform infrastructure Theta.TV.
What is the Theta platform?
Theta is an open source cryptographic platform that provides streaming services in the sports field. It is based on blockchain technology and operates on the network Theta Blockchain Video Network. In which the participants of this platform can enjoy different services with decentralized multimedia content. They will be able to watch live sports, participate in World Poker Tour tournaments and much more. As well as they will also be able to enjoy conferences on cryptocurrencies and blockchain technology.
Likewise, depending on the interaction and activities carried out by the participants within the platform, they may be rewarded with the token. THETA o TFUEL. The latter works in a similar way to the gas of the Ethereum network, and represents the asset used to finance operations within the network. In the same way, users will be able to place bets and other events that will also allow them to obtain more of the Theta network tokens.
It is important to highlight that the platform Theta has a total supply of 1.000 billion THETA tokens and a supply of 5.000 billion units of TFUEL tokens. Which are used in decision making, the proposal of technical improvements to the platform, the implementation of decentralized applications and smart contracts, and to guarantee the security and protection of the network.
For its part, the Theta platform also allows users to create decentralized applications (dApps) within its system. With which they can share the entertainment, multimedia, conferences or events content they prefer.
Theta Mainnet 2.0 Network Launched
The launch of Theta Mainnet 2.0 Its purpose is to present a two-layer decentralized consensus mechanism. That allows the optimization of video transmissions globally with reduced and affordable costs for everyone. However, the launch of this new network does not imply the creation of a new token. So users will be able to continue operating with the two existing tokens within the platform.
The platform's website specifies that with mainnet 2.0, users will be able to benefit from sharing their bandwidth and building a community. Likewise, content and platform creators will be able to obtain better profits with lower streaming cost levels.
Theta Partnerships with Other Companies
With the aim of continuing to grow and develop as a global network Theta has teamed up with Samsung. One of the largest multinationals that exist worldwide in the technology, electronics and other services industry.
Through this alliance, Theta seeks to develop an app that allows it to offer its services through mobile phones. Therefore, it hopes to reach more than 75 million users in the world. With updates that will be available for Samsung Galaxy S9, S10 and S20, as well as for the company's Samsung Note 9 and 10.
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