Theta developers are integrating new features and improvements to enable smart contracts and improve all mainnet functionalities.
Theta, the streaming network based on blockchain With millions of users around the world, it integrated new functionalities to its main network, included in block No. 8.411.427 mined on December 10. The new functionalities include, among other things, smart contracts (smart contracts) within the Theta mainnet.
According to the announcement, the implemented upgrade allows for the improvement of several fundamental aspects of the network to offer a better quality of service to users and consumers. With the new feature package, Theta developers seek to enable smart contracts and expand the overall functionality of the network, effectively responding to the main needs and requests of its user community. Likewise, the new updates are designed to exponentially increase Theta's use cases, boosting the value of the protocol and further decentralizing the governance and security of this network.
Theta developers also announced the launch of a new documentation site and are updating the Network Explorer with new features for fetching smart contract data and insights, which will work similarly to the Theta tools. etherscan, for users to interact with smart contracts deployed on the blockchain.
These new Theta upgrades do not require existing token holders to take any action or move any tokens, but were automatically triggered in the aforementioned block. Theta developers monitored the network to confirm that all upgrades were triggered as expected.
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A network in constant growth
Since the closing of its private offering to qualified investors in January 2018, Theta has been growing, developing and consolidating itself as one of the most promising projects in the digital industry, where users and consumers can generate economic benefits, while contributing to the construction of a decentralized global network for the creation of digital content that is unique in the world.
Its constant growth and evolution has captivated millions of users, and large technology companies have joined this network to attract millions more users. In this sense, Google, Samsung, Binance, and several other companies are, today, partners of Theta. And to continue building its ambitious goal, the network integrates new functions that have the potential to open the doors to new and numerous use cases in streaming and much more, which will continue to add value to society and attract users and consumers to grow the network exponentially.
Theta's new features allow for token investments in streamers, all the way to creating automatic TFUEL reward splits between platforms, streamers, and/or users. These new features also allow for the creation of non-fungible tokens (NFTs), which represent top content creators, the platform's developers explained.
A platform with a vision for the future
Mitch Liu, CEO of Theta, has been at the forefront of the evolution and development of this network, which maintains a clear vision for the future with established goals that allow it to achieve its objective. In this way, Theta has been evolving from being a centralized platform to becoming a hybrid, which will soon become completely decentralized.
Theta is aimed at solving several of the fundamental problems that exist in conventional streaming platforms, such as low quality of streams, high operational costs of the platforms, and centralization issues.
Now, the integration of smart contracts into the Theta mainnet is one more step that is part of the evolution that the developers plan for this network, and it is possible thanks to the fact that Theta Virtual Machine It is “fully compatible” with Ethereum Virtual Machine (EVM). Therefore, migration to existing smart contracts based on the blockchain Ethereum It can be done in a simple and uncomplicated manner.
“Migrating to existing Ethereum-based contracts is simple and thousands of smart contract developers can easily jump into building on Theta.”
The developers also explained that between the Theta Labs team and the Theta network community, many innovative projects are being developed that will soon be available to continue providing value and importance to the network. These projects include the construction of decentralized exchanges (DEX), as well as participation groups and much more.
Upcoming updates
The developers indicate that the request for the extension Theta Wallet Chrome has already been sent to Google, and approval is expected so that it will be available to users shortly. Likewise, the platform will activate Theta Token Minter, to provide users with an easy-to-access and easy-to-use interface where they can develop their own tokens on the blockchain.
Finally, the developers announced that badges, emoticons and other elements present on THETA.tv will soon be converted into NFT tokens on the Theta blockchain.
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