Web2 and Web3 are two different generations of the World Wide Web. While Web2 is a centralized platform, Web3 is decentralized and powered by blockchain technology. The success of Web3 has been enormous, with many people now moving from Web2 to take advantage of its benefits. However, the path to Web3 is not always straightforward. It is complicated and requires a deep understanding of both technologies. Today's guide will ensure you have the right information to successfully move from Web2…
Theta Network Leverages New API Service to Revolutionize Web3 Video
THETA has unveiled a new API service to revolutionize web3 video, providing its users with a way to stream decentralized video content.
Theta Labs launched the “Theta Video API” that will assist developers in adding a decentralized video to any website or app. Interestingly, developers won’t go through the hassle of using any central servers, content delivery, or video hosting software.
In a nutshell, anyone can upload a video clip, and the API will return a playable link. Comprehensively, you can add a Theta-powered player to a site featuring the video clip. What’s more, Theta’s native TFUEL token powers the Theta Video API.
The new API will allow anyone to initiate the decentralized video to handle the delivery. And playback of their videos, therefore giving optimum convenience.
Through Theta’s decentralized infrastructure, anyone who watches any video can relay it over the Theta Network on a peer-to-peer basis. However, it doesn’t mean that you can embed an existing video stream. Instead, the Theta Video API can assist a user in uploading any video to their website with just a few clicks.
The CEO of Theta Labs, Mitch Liu, believes that the new service was an evolutionary stepping stone in what decentralized protocols can bring to a web 3.0. He added that the move proves their superiority over older web 1 era centralized services.
Liu noted that the company’s vision is to bring the principles of Web 3.0 to streaming video. He said that anyone could stream video over a decentralized network with no permissions, no interference, and no centralized entity collecting and selling a person’s data.
Liu also lamented that the company envisions the service to become a fundamental building block for Web3. He said that Theta Video API would allow users to add video. And other content to any site or app without contracts with centralized entities like AWS or Akamai.
What Theta Aims to Achieve
Theta Labs invented the new API to reduce the cost of opening a new video platform significantly. The API eliminates all barriers to entry and allows new content types and creators to flourish.
The new service will also allow small and medium-sized sites to compete with larger ones by taking advantage of the Theta Network to evade costly contracts with tech giants.
The new API will support video on demand (VOD) video ingest and delivery. And it will also offer live streaming support soon.
Because Theta Video API creates an end-to-end decentralized pipeline, anyone can craft a whole video platform with the API. In addition, the API eliminates the need for any other video encoding, delivery, or playback providers.
The API also includes a peer-to-peer (P2P) video delivery infrastructure. It will ultimately reduce CDN bandwidth costs without impacting video playback quality.
The new service will allow users to earn TFUEL tokens in exchange for providing computational power. Theta’s Elite Edge Nodes will enable these 8,000+ global nodes to perform commercial video encoding jobs with high readability and uptime.
The process aims to complete in 2022 after the release of decentralized storage support on Elite Edge Nodes. It will support the storage of the source video file and video-on-demand content.