Google Cloud is poised to power Theta Labs, Inc., a disruptive video and data delivery network using blockchain and distributed ledger technology.
Google will power the cloud infrastructure for THETA.tv, an esports streaming site built on the Theta Network. The service will also allow users to run Theta nodes directly from Google Cloud’s marketplace. Along with Binance, Blockchain Ventures, and gumi Cryptos, Google will validate new blocks on Theta’s blockchain.
Theta’s new mainnet is scheduled to roll out on Wednesday. It will stake 5 million THETA tokens for Google to help secure the network with the tech giant serving as its first big European validator, operating out of Ireland.
Theta’s high-performance decentralized micropayment network uses crypto to scale its platform to millions of concurrent video viewers. The platform works with partners in mass media, entertainment, telecom, technology and gaming.
Mitch Liu, CEO and founder of Theta Labs, says,
“As we engaged with potential Theta partners over the past year, we heard more and more that live 24/7 esports content coupled with a loyalty or rewards program is strategic to their global business and user growth.”
By leveraging blockchain to deliver enhanced quality at significantly lower costs and by allowing users to simultaneously watch video content and earn THETA, the project aims to position itself as a next-generation video platform.
YouTube co-founder Steve Chen is an advisor to Theta, and says he believes the platform has the potential to shake up the industry.
“Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005.
One of our biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K and higher quality video streams. I’m excited to be part of the next evolution of the streaming space, helping Theta create a decentralized peer-to-peer network that can offer improved video delivery at lower costs.”
Google has also facilitated other companies in the blockchain space by making the Bitcoin and Ethereum datasets publicly available in 2018 through its BigQuery service, which helps decentralized autonomous organizations scale by rapidly retrieving and analyzing terabytes of data.
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