Theta to take on Transcoding Market
1pm update 01/18/21 - My Theta Edge node has already taken a Transcoding job and completed it. I earned 0.9534 TFUEL. Not bad for one job if you ask me!
Theta Recap - Theta is a leading decentralized blockchain powered by 7000+ Edge Node globally dispersed. One role of the Edge Nodes is they relay Video Content without need for Content Delivery Networks (CDN). Put another way they bypass the centralized offerings.
Why does Theta want a piece of the Transcoding Market? This market is worth $11BN , so even a small percentage is worth a lot of money! Additionally, this industry is centralized and thus ripe to decentralize. Another bonus is this industry has a CAGR of 15% and experiencing a huge growth spike as global pandemic lockdowns continue.
The newest Edge Node Client has a new feature. Video Transcoding (i.e. converting the video files from one format to another format.
How will this transcoding effort work? It is an on-demand workflow, that will be available as a turn-key video platform for all to utilize.
What is the reward for this transcoding effort work? Theta will allocate 150,000 TFUEL monthly for Edge nodes to perform transcoding efforts. Theta will add more TFUEL to the pool as the service grows.
Theta understands this market is ever evolving an open to the fact this workflow could morph into a Marketplace for other niche jobs etc.
Summary - Theta is going Full Bore into 2021, the Edge Node role continues to expand in features and functions providing you with greater ways to earn TFUEL!
Enjoy the Journey!
