The Theta Labs video platform that is also decentralized, will collaborate with the smart contract Chainlink to fight the $19 billion global issue of online video and fraud according to the latest press release in our latest chainlink news.
According to the website, Theta Labs video platform is a decentralized delivery network that has its own blockchain that is specifically designed for incentivizing the sharing of the bandwidth. The company noted that today’s content delivery networks have no reach which causes the videos to re-buffer and has high load times in countries across the world. Skyrocketing data needs means that the users demand 4K and 8K and higher quality streams which create infrastructure trouble.
The centralized nature means less revenue flows back to the content creators and platforms but with the massive presence of click-farms and bots, the manipulative content creators can easily manipulate data. Reports show that this is an international issue and will continue to grow to over $44 billion by 2022 as per the estimates unless the regulations stop that. Theta has a solution. The partnership with Chainlink will be the first blockchain-based solution to reduce digital ad fraud and increase the effectiveness of the money spent.
The solution that is live on TestNET, uses Google’s big Data solution to process the video performance data that is generated on the Theta Network and to create a reputation score for the streamer based on the viewership. Chainlink oracles can then broadcast the reputation scores to the ETH blockchain where they are stored as an immutable record for the online advertisers to reference when they are deciding where to allocate the capital.
The oracles are a third-party service that can fetch data from the “outside” a blockchain to the inside. This is required because the blockchain is a store of value and can’t validate the authenticity of the input data which means that blockchains can indefinitely store data that could not be corrected so Chainlink will change that. Theta is one of the long lists of crypto companies this year to have chosen the oracle services. The latter announced a new partnership that will onboard oracle tools and its adoption doesn’t seem to be stalling.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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